Dušan Živković, General Director of Elektroprivreda Srbije (EPS), announced today that Serbia will maintain its current electricity prices through the end of the year.
Živković noted that Serbia has some of the lowest electricity prices in Europe, despite experiencing record-breaking electricity consumption this summer.
“We’ve had historically high consumption during this summer, with one day reaching 108 gigawatt-hours. The average temperatures have been the highest on record, but we’re managing this demand through both local production and market supplies,” Živković told RTS. He highlighted the revitalization of the Bajina Bašta pumped-storage hydroelectric plant as a significant development.
EPS has introduced a new methodology for calculating electricity prices for industrial and commercial customers. Živković explained that as the electricity market evolves, new rules will be necessary. The revised methodology aims to improve EPS’s engagement with the business sector, providing more flexibility and options for negotiating electricity prices.
“The primary change is that market prices will have a major influence on future contracts with commercial buyers,” Živković said.
He detailed that the new system will involve quarterly adjustments to balance risks. This will help prevent scenarios where either EPS or commercial customers face disadvantages due to significant price fluctuations.
“All current contracts will remain in effect until they expire. However, new contracts, when the existing ones end, will incorporate these new methodologies and offer greater flexibility,” Živković added.
This increased flexibility is expected to help businesses better plan, optimize their energy use, and enhance their energy efficiency.
