Electricity

Hungary, Slovenia, Serbia to roll out electricity trade platform

Photo: Emilija Jovanović

Published

November 17, 2023

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Published:

November 17, 2023

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Hungary, Slovenia and Serbia will establish an electricity trading platform, Minister of Mining and Energy of Serbia Dubravka Đedović Handanović said after a meeting with Hungary’s Minister of Foreign Affairs and Trade Péter Szijjártó. They discussed natural gas supply cooperation, the proposed oil pipeline project and the possibility to boost bilateral electricity transmission capacity.

At the meeting in Belgrade, Dubravka Đedović Handanović and Péter Szijjártó highlighted the rise in electricity trade between Serbia and Hungary and the plans to continue investing in transmission capacity.

“We also spoke about the Blue Sky project, which should enable the establishment of a joint platform for the trade of electricity between Serbia, Slovenia and Hungary, after Serbia and Slovenia already launched the first regional electricity exchange,” she stated.

The Slovenian and Serbian transmission system operators – ELES and Elektromreža Srbije (EMS) – founded the ADEX exchange last December with European company EPEX Spot.

The electricity trade agreement with Hungary should be signed by the end of the year

The agreement on Hungary’s accession to the platform established by Serbia and Slovenia should be signed toward the end of this year. The idea is to finalize the initiative in the first months of next year, Đedović Handanović asserted.

She announced that the start of construction of the Serbia-Hungary oil pipeline, an investment valued at EUR 150 million, is expected in the second half of 2025, and that the capacity is planned at 5.5 million tons per year.

The ministers also discussed Bulgaria’s new Russian gas transit tax, which they already fiercely criticized. Đedović Handanović said talks are underway on the measures that the two countries can take to shield their positions.

“Serbia also went officially to the Energy Community with regard to the issue, and the issue is on the European Commission’s table as well. We want to make sure there is no breach of either the European regulations or contractual obligations and agreements,” she explained.

The two governments will tend to find a solution, she underscored, with the Bulgarian side as well and to overcome the challenges that would negatively impact natural gas supply.

Szijjártó: Hungary, Serbia to harmonize further steps with regard to Bulgaria’s tax

Hungary Slovenia Serbia electricity gas oil pipeline djedovic dedovic szijjarto
Photo: Emilija Jovanović

Hungarian Minister Péter Szijjártó stressed that Bulgaria’s move is unacceptable.

“No one has the right to compromise a country’s security of supply. Without any notice, Bulgaria introduced a Russian gas transit tax, compromising the security of supply of North Macedonia, Serbia and Hungary,” Szijjártó underscored, as quoted by the Serbian ministry.

He said Hungary and Serbia agreed today to harmonize their further steps and respond jointly.

“This hostile act compromises European solidarity but it also goes contrary to European regulations, given that it is not allowed to introduce taxes and customs tariffs between EU members as it limits the free flow of goods and breaches European regulations,” the Hungarian official stated, the readout adds.

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