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Reforming electricity pricing: Enhancing market alignment for economic resilience

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The implementation of the new methodology is set to commence in November this year, aiming to mitigate significant discrepancies in electricity prices during both low and high market periods. The economic impact is substantial, given that electricity constitutes a significant portion of total costs for many businesses.

The Ministry of Energy, in collaboration with “Elektroprivreda Srbije” (EPS), is actively revising the methodology used to determine electricity prices for commercial customers. This initiative aims to align prices more closely with market trends, providing EPS with the flexibility to respond to market volatility. The new methodology will ensure that prices reflect market principles, thereby avoiding drastic deviations from market rates.

With the stabilization of prices on reference exchanges, the need for price limitations, imposed since October 2021 due to the energy crisis, has ceased. These limitations were implemented to shield the economy and commercial customers from exorbitant price increases. The new methodology will facilitate more efficient electricity supply contracting under competitive conditions, enabling EPS to navigate market competition effectively while generating revenues to support necessary investments in adapting its power portfolio for future changes, including the implementation of the cross-border carbon price adjustment mechanism (CBAM) in Serbia.

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The focus for “Srbijagas” is on the commercial sector, aiming to balance the need for funds for key infrastructure projects with maintaining competitiveness across the Serbian economy, which heavily relies on natural gas in production processes. The goal is to ensure sufficient funding for infrastructure while preserving the economy’s competitiveness.

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