Professor of Public Finance at FEFA, Goran Radosavljević, warned that transferring electricity bill payments from the Serbian Treasury to Alta Bank, owned by businessman Davor Macura close to the ruling party, could have significant consequences for both citizens and Elektroprivreda Srbije (EPS).
He explained that payments through a commercial bank like Alta typically involve transaction fees, unlike previous payment methods such as post offices or e-government platforms which were free or low-cost. According to current tariffs, a physical person paying at an Alta Bank branch would be charged around 50 dinars per transaction.
With approximately 3.37 million households in Serbia paying an average monthly electricity bill of 4,000 dinars, these fees could lead to about 2 billion dinars in annual bank commissions — nearly 40% of Alta Bank’s last year revenue. Although Radosavljević expects the bank may offer lower fees or waive them for EPS payments, the limited number of Alta Bank branches (six in Belgrade and one in eight other municipalities) could make bill payments harder and more costly for citizens.
EPS may also face higher operational costs, as it will now pay commissions to Alta Bank for processing payments—a cost that did not exist when funds were handled through the Treasury. These fees could amount to at least €2.3 million annually.
Moreover, directing approximately 450 billion dinars (around €3.8 billion) per year through Alta Bank will significantly increase the bank’s liquidity and value, raising concerns about favoritism and lack of transparency in managing public revenues. Radosavljević criticized EPS for not allowing payments through multiple banks, which would promote competition and potentially reduce fees.
This move coincides with announced electricity price increases for consumers, expected to rise by at least 7% by September 2025, despite prior assurances by EPS leadership that prices would remain stable this year. The International Monetary Fund’s recent review of Serbia’s financial arrangements, which has not been fully disclosed, likely includes these developments.
Notably, the Minister of Mining and Energy did not address the price hike or payment changes in a recent public broadcast.
