Serbia to increase prices of electricity, natural gas

The price of electricity in Serbia will be increased on January 1, 2023, by less than ten percent, and natural gas by 11%, Minister of Mining and Energy Dubravka Đedović said.

The price of electricity was last increased on September 1, by 6.5%, after a hike in the price of natural gas on August 1, by nine percent.

“From 2023, the price of electricity will be increased by less than ten percent, which will make it more expensive by under RSD 300 per month for the average household. The government will continue to subsidize the power price, so the price of electricity will be among the lowest in Europe,” Đedović wrote on social media, adding that the price of natural gas would also be lifted, by 11%.

Her announcement apparently doesn’t apply to businesses. The decision is up to the Government of Serbia, which earlier fixed the price for the corporate sector at EUR 95 per MWh until December 1.

Electricity savings can lower bills by 30%

Đedović added that in the previous two weeks the price of natural gas tripled on the global market while that in Serbia it is currently among the lowest for firms in Europe, and the third lowest for households.

According to her, consumers will achieve a discount of up to 30% for electricity if they reduce consumption.

“Considering the world energy crisis, we have to adopt measures that will ensure a safe and continuous supply,” Đedović said.

Earlier this month, just after she became minister, she suggested that the prices of electricity and gas would be increased, arguing they are unsustainable.