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Serbia’s energy and mining sector anchors industrial stability but faces transition costs, capital intensity and structural execution risk

Serbia’s energy and mining sector remains the backbone of the country’s industrial system, yet the Q4 2025 bulletin from the Serbian Chamber of Commerce (PKS) reveals...

Serbia is reducing its dependence on Russian gas and accelerating new regional pipeline connections

Serbia is intensifying efforts to diversify its natural gas supply ahead of a broader European shift away from Russian energy, with major new pipeline...

Serbia’s power sector under EU accession: Market integration, capital deployment and grid-reality stress tests

Energy has become one of the most revealing accession chapters for Serbia, not because of legislative alignment alone, but because the electricity system now...

Wires before watts: Financial performance and capital economics of Serbia’s energy transition infrastructure in 2025

In 2025, Serbia’s energy sector increasingly revealed a structural truth that investors had long understood but policymakers only gradually acknowledged: the bottleneck of the...

Hungary’s energy encirclement of Serbia: How MOL and MVM are quietly reshaping the oil and gas economy — and what it means for growth,...

Hungary’s advance into Serbia’s energy sector is no longer a collection of unrelated transactions. It is cohering into a system-level strategy that spans oil,...

Gas dependence and strategic blind spots: Serbia’s energy truths no longer hide

Experts have been brutally honest: Serbia remains structurally dependent on gas arrangements shaped by geopolitical vulnerability. This is not simply an energy issue. It...

Energy sector uncertainty increases short-term liquidity pressure on domestic companies

Energy-sector uncertainty is beginning to surface not only as a cost issue, but as a liquidity challenge for Serbian companies. Delays in payments, fluctuating...

Who really controls Serbia’s energy future? The invisible power struggle between EPS, the regulator and the Ministry

Serbia’s energy sector stands at a turning point: squeezed between decarbonisation pressures, the slow decline of lignite, rising demand, regional competition, and the shift...

Private investors in Serbia’s renewable energy sector: Owners, lenders, strategy, risks and opportunities

As Serbia embarks on its energy transition, the role of private capital in the renewable energy sector is becoming more visible and strategic. A...

Serbia power utility EPS in the slow lane: Why EPS is struggling to deliver new power generation facilities 

Serbia’s energy system is built on a paradox. The country urgently needs new electricity-generation facilities to secure supply, support industry, and accelerate the shift...

Serbia faces gas supply challenges as EU moves to phase out Russian gas imports

Serbia’s energy sector faces uncertainty following the European Union’s October decision to gradually ban imports of Russian natural gas, a move that will take...

Reforming Serbia’s energy sector: Sustainability, efficiency and public interest

Despite electricity prices in Serbia being roughly three times lower than in the EU, this policy primarily benefits large consumers rather than low-income households....

Serbia has the “dirtiest” energy sector in Europe, high CO₂ emissions threaten competitiveness

Professor Dejan Molnar from the University of Belgrade highlights that Serbia is one of the largest carbon emitters per unit of GDP in Europe,...

Serbia invests €180 million in Radljevo coal mine to boost energy security

Ivan Janković, Assistant Minister of Mining and Energy of Serbia, stated that the Radljevo surface coal mine in the Kolubara Mining Basin is a...
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