EU, Energy Community extend support to Serbia in its energy transition

Minister of Mining and Energy Dubravka Đedović met with European Commissioner for Neighbourhood and Enlargement Olivér Várhelyi and Energy Community Secretariat Director Artur Lorkowski, who both expressed support for Serbia in its energy transition.

“This electricity cable is not only an electricity cable but this is an electricity cable to which we can double up speed due to the trade electricity between the EU and Serbia,” European Commissioner for Neighbourhood and Enlargement Olivér Várhelyi said at the presentation of the Trans-Balkan Electricity Corridor in Serbia.

The European Union has approved EUR 31 million for another package of grants for the project, within its Economic and Investment Plan for the Western Balkans. Várhelyi expressed hope it can be sped up and added the grid extension would strengthen the security of supply and enable the country to switch much faster to renewable energy sources. He also noted that the EU has prepared EUR 165 million in direct budget aid for Serbia to cope with the energy crisis.

Serbia to exit coal by 2050

Várhelyi met with Minister of Mining and Energy Dubravka Đedović, who said the country needs a stronger power network to trade more electricity with its neighbors. She revealed that last month power imports cost EUR 40 million and that they are seen at EUR 50 million in December, adding the tally is set to rise next month.

Đedović said the government is determined to cut the use of fossil fuels and to exit coal in electricity production by 2050.

Serbia is already connected with Romania via the Trans-Balkan Electricity Corridor, and works are ongoing to create high-capacity links with Bosnia and Herzegovina and Montenegro, which in turn has a submarine power cable to Italy.

Đedović: Serbia is firmly committed to the green energy transition

Đedović has also held a meeting with a delegation from the Energy Community Secretariat, led by Director Artur Lorkowski, on cooperation to advance the country’s energy transition and reforms in line with the EU acquis, as well as on energy security and affordability.

“Despite the challenges of dealing with the energy crisis, I can clearly see that Serbia is fully committed to continue the path of energy sector reforms and the energy transition. The secretariat will continue to do all it can to support Serbia on its energy decarbonization pathway and bring tangible benefits to its citizens,” Lorkowski said.

One of the priorities is to reform the energy sector and the main companies

Serbia is firmly committed to the green energy transition, Đedović stressed and vowed to work closely with the Energy Community in increasing the share of renewables and cutting greenhouse gas emissions.

“Making progress toward the targets in the areas of energy and climate implies preserving our energy stability while reaching the goals for the energy transition, which should be financially and socially sustainable and just and should help us have a strong and sustainable energy system in the long term,” the minister stated. One of the priorities is to reform the energy sector including achieving more efficiency in the operations of energy companies, Đedović said.

The meeting also served to prepare the upcoming Energy Community Ministerial Council, to be held on December 15 in Vienna.