Energy Crisis

Serbia to spend EUR 3 billion on energy imports next winter

Serbia to spend EUR 3 billion on energy imports next winter

Photo: iStock

Published

August 22, 2022

Country

Comments

comments icon

0

Share

Published:

August 22, 2022

Country:

Comments:

comments icon

0

Share

Serbia will need EUR 3 billion to secure enough energy for the coming winter, said Zorana Mihajlović, Serbian Deputy Prime Minister and Minister of Mining and Energy. The import of natural gas and electricity cost Serbia EUR 1.65 billion last winter.

According to Zorana Mihajlović, the state is doing everything to ensure sufficient amounts of energy for the upcoming winter, and it will need to EUR 3 billion for imports. However, to ensure long-term energy stability, it is necessary to invest in new capacities for electricity production, primarily powered by renewables, said Mihajlović.

She said that the consumption of energy will be increased during the winter and that electricity will be imported in the coming months as well, but that it will cost a lot. By the end of March, Serbia will spend around EUR 3 billion on energy purchases, according to Mihajlović.

Electricity will be imported from Azerbaijan

Since May, Serbia has been in talks with Azerbaijan on the purchase of electricity, and certain quantities have already been agreed. Serbian President Aleksandar Vučić yesterday spoke with Azerbaijani President Ilham Aliyev and secured additional amounts of electricity, Mihajlović added.

Of note, the Serbian president’s office has announced that Aliyev has met Vučić’s request and approved an agreement on the purchase of electricity from Azerbaijan. No further details of the agreement were provided.

Mihajlović pointed out that for a stable and sustainable energy sector in Serbia, it is necessary for state power utility Elektroprivreda Srbije (EPS) to build new power plants through strategic partnerships, ensuring that the energy generated from renewable sources is consumed in the country, with surpluses exported.

Fiscal Council: the import of electricity and gas will cost EUR 1.5 billion, but prices are rising

At the beginning of June, Zorana Mihajlović said that Serbia would spend EUR 1 billion on electricity and coal imports by the end of the year, and that the imports would continue until 2024.

According to the Fiscal Council, EUR 500-550 million will be needed to import electricity and coal this coming winter. The calculation is based on the import of 2,000 GWh at a price of EUR 200 per MWh, but the prices on the Serbian power exchange SEEPEX have hovered around EUR 600 in recent days. Last winter, EPS spent EUR 650 million to import 2,900 GWh electricity.

When it comes to gas, imports will cost Srbijagas EUR 950 million next winter. Last winter, it was EUR 1 billion.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

GGF Kostadinov Western Balkans responded energy crisis innovation ambition

GGF’s Kostadinov: Western Balkans responded to energy crisis with innovation, ambition (video)

20 May 2025 - The past three to four years have been nothing short of transformational when it comes to the energy transition in the Western Balkans, said Borislav Kostadinov, Finance in Motion's Fund Director for GGF

Alteo's Chikán Aggregators AI solutions grid stability production optimization

Alteo’s Chikán: Aggregators have AI solutions for grid stability, production optimization (video)

19 May 2025 - Volatile prices, policy changes and flexibility needs are driving a momentum for developers and aggregators, Alteo's CEO Attila Chikán says

Akuo Energy signs PPA with EPS for Bela Anta 2 wind project in Serbia

Akuo Energy signs PPA with EPS for Bela Anta 2 wind project in Serbia

19 May 2025 - Akuo Energy signed a power purchase agreement (PPA) with Serbia's Elektroprivreda Srbije (EPS) for the Bela Anta 2 wind power project

power grid outage substation

Low consumption causes grid failure, power outage in North Macedonia

19 May 2025 - Bulgaria’s balancing facilities were crucial in stabilizing North Macedonia’s grid, Bulgarian energy minister says