Minister: I Expect Electricity Prices to Go Up

Electricity (Free Image)

Minister of Mining and Energy Zorana Mihajlovic said on May 9 that she expected power price jumps, adding that a government ordinance had been prepared to help vulnerable consumers pay for electricity, gas or heating.

“I am aware that it can’t be a popular move, but I expect electricity prices to go up. The Ministry of Mining and Energy has prepared an ordinance to protect vulnerable consumers, and ensure they have access to affordable electricity, gas or heating supply,” Mihajlovic said in a comment for BETA.

The new electricity prices need to meet all the parameters of sustainability for Elektroprivreda Srbije (EPS) power utility, the state and citizens, and “the company must survive the crisis on its feet, not on its knees,” the minister said, suggesting that a clear and transparent plan is needed to define where exactly the EPS will invest the money from the price increase.

“Serbia is among the few states that haven’t increased power prices after the war in Ukraine broke out. Serbian electricity prices are among the lowest in Europe, despite soaring oil and gas prices, as well as the growing cost of electricity production and spare parts. The trouble is that we now have a wounded power utility, which we need to protect to ensure energy stability,” the deputy prime minister at the helm of the energy department said to a BETA reporter.