News

Electricity price increase of 12% set for August

Published

June 22, 2015

Comments

comments icon

0

Share

Published:

June 22, 2015

Comments:

comments icon

0

Share

Higher budget revenues will be the main effect of the new 7.5% excise duty on electricity, Serbian finance minister Dušan Vujović said, state-owned Tanjug agency reports. The cost of electricity in Serbia is currently RSD 4.97 (4.12 euro cents) per kWh, plus 0.88 euro cents in tax, he said in the National Assembly.

Mining and energy minister Aleksandar Antić announced on June 11 that the price of electricity in Serbia will increase 12% on August 1, the Government of Serbia said, as reported by the media. At a press conference in the government headquarters, he added that the price hike was agreed with the International Monetary Fund (IMF), and pointed out that the socially disadvantaged will have 120 to 250 kWh per month for free.

The price of electricity in Serbia will remain by far the lowest in Europe, and will be 50% cheaper than in Montenegro, two times cheaper than in Croatia and 15% below the price in Bosnia and Herzegovina, Antić said. He noted that the price increase is necessary to ensure a stable power system, new investments in the energy system of the country and the creation of new jobs. The 7.5 percentage points from the price hike proceeds belong to the state budget, while the remaining 4.5 points would go to EPS, the country’s power monopoly.

Related Articles

Greece lowers 2030 renewable penetration goal in its final NECP

Greece lowers 2030 renewable penetration goal in its final NECP

19 July 2024 - Greece's final National Energy and Climate Plan (NECP) is expected to be submitted to the European Commission in the following days or weeks

Renewable energy spatial plan delayed again in Greece

Renewable energy spatial plan delayed again in Greece

19 July 2024 - It has now been ten years since the European Commission first asked Greece to modernize its renewable energy spatial plan

hydrogen germany subsidies

Germany providing EUR 4.6 billion in grants for hydrogen projects

18 July 2024 - Germany is disbursing EUR 4.6 billion in subsidies for 23 projects for hydrogen production, transportation and storage

Romania-ambitious energy storage plans 5 GW by end 2026

Romania’s ambitious energy storage plans: 5 GW by end-2026

18 July 2024 - These ambitious energy storage targets are aligned with transmission system operator Transelectrica’s recommendations and analyses