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Is the energy crisis in Europe spilling over to the Serbian market?

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Gas and electricity prices in Europe have reached a record. Experts say that Serbia has no reason to worry when it comes to gas, but businessmen will feel the increase in the price of electricity.
Enjoying a warm room in the cold winter weather is no longer so carefree for the inhabitants of European countries – gas prices have skyrocketed due to the shortage of this energy source.
Serbia is not among those countries, because, with the agreement with Russia, the supply of gas at a low price is guaranteed until the end of the year, experts say.
“The crisis in Europe will not affect us. We have good contracts and a full underground storage of this energy source,” Vojislav Vuletic, secretary general of the Gas Association of Serbia, said.
The shortage of gas does not threaten Serbia, but the deficit in Europe has caused an increase in electricity prices, which reach unprecedented amounts.
Households in Serbia will not feel the increase in the price of electricity for now, although it will spill over into the pockets of some businessmen whose bills will increase between 120 and 150 percent.
That is why some of them will have to raise the price of the product, economist Sasa Djogovic thinks.
“Examples are bakeries that consume a lot of electricity, but they will not close because they offer basic food products,” he said.
In Serbia, in 2020, the total electricity consumption in households and businessmen was 29 terawatt-hours (29 billion kilowatt-hours), according to data from the Serbian Energy Agency.
Households spend an average of 400 to 600 kilowatt-hours per month.
In the same period, natural gas consumption was 2,505 million cubic meters, according to the Agency, B92 reports.

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