No Decision Made on Increasing Price of Electricity for Economy – Much More Than EUR 3.5 Billion to Be Needed for Import Until End-March, Minister Announces

The minister of mining and energy, Zorana Mihajlovic, has stated that there are no plans for power cuts for households and that the government has not made the decision to increase the price of electricity for the economy.

– Here, the price for the economy, for commercial supply, at the moment, is EUR 75 per megawatt-hour, and in Europe, it is EUR 540 to 640, which means that it is around eight times cheaper here, which is not sustainable and we are considering, together with EPS, whether and when there would be a price increase, but the decision has certainly not been made yet – she stated.

While visiting the site where the oil and oil product storage tank is being built in Smederevo, she said that 8% of the total consumption had been imported the day before and that there would be even more in the winter.

Mihajlovic said that it was impossible to estimate how much money would be needed by the end of March for the purchase of electricity, considering the nearly daily increase of the prices in the market.

– It is certain that we will need much more than the estimated EUR 3.5 billion. It’s not a question whether there will be electricity, but at what price, because the price of electricity today is EUR 702 per megawatt-hour, the price of gas is EUR 3,200. We are also talking with Hungary and Azerbaijan about getting electricity at more favorable prices by the end of March – Mihajlovic said, as announced by the ministry.

The president of Serbia, Aleksandar Vucic, stated that Serbia had not yet made a plan for power cuts in the winter period and that he hoped that there would be enough money for the purchase of energy so that it wouldn’t happen.

– All European countries have made plans for power cuts in the winter period, but Serbia hasn’t yet, because we hope that we will be able to secure enough money to get out of the bad situation – he said at the opening of the Plum Fair in Osecina, Beta reported.

Ministarstvo rudarstva i energetike Republike Srbije

Predsedništvo Republike Srbije

Ministry of Mining and Energy

president of Serbia

Aleksandar Vučić

Zorana Mihajlović

electricity

price of electricity for the economy

import of electricity

power cuts