Price of electricity to rise by 3.8% from October 1 – Average price rise per household EUR 1

The price of household electricity will rise by 3.8% from October 1, announced Minister of Energy and Mining Aleksandar Antic on Wednesday, August 31. He said that the average rise per household was EUR 1 and that citizens would see it in their November bills, but he advised consumers to save the amount.

Antic also said that the rise was the lowest possible one and that it was a result of hard negotiations with international financial institutions. – This is the lowest possible price adjustment we managed to agree on and it is twice lower than the latest demand by the International Monetary Fund – Antic said and added that the IMF had earlier requested a double-digit rise and then a rise of 7.7%.

According to him, this is the lowest electricity price adjustment in the last 15 years and it will minimally impact household bills.

Antic also said that, even with the new price, the people of Serbia would still be paying by far the lowest electricity price in Europe and that the rise wouldn't have an inflationary effect. He said that the support to socially vulnerable citizens would continue and reminded that 56,400 households used free kilowatts.

Electricity in Serbia is cheaper by 18.7% than in Albania, by 20% than in B&H, by 21% than in Macedonia, by 38.7% than in Bulgaria, by 43.2% than in Montenegro and by as much as 90.1% than in Croatia, the minister said.

He said that the money accrued from the rise would be used to consolidate the electric energy system of Serbia, i.e. that the rise was not “inflationary in nature”.

Increase in production of coal and electricity

In the first seven months of 2016, compared to the corresponding period of 2015, the production of coal increased by 6%, and of electricity by 2%, stated Antic. He also said that the production of coal in July had increased, following certain delays, by 3.7% compared to July 2015.

Ministarstvo rudarstva i energetike Republike Srbije

Međunarodni monetarni fond-MMF Beograd

price of electricity

electricity price rise

Ministry of Energy and Mining

Aleksandar Antic

electricity bill

International Monetary Fund

IMF

price of electrical energy

production of coal

production of electricity