Mihajlović: ‘We have sufficient energy sources and electricity price will not go up’

Minister of Mining and Energy Zorana Mihajlović said that the price of electricity in Serbia will not increase this year and that Serbia will have enough energy, but that the government still doesn’t know at what price they will procure natural gas.

Mihajlović told Euronews Serbia that, due to the Ukraine-related crisis in Europe, the Electric Power Industry of Serbia (EPS) has no plans to increase the price of electricity for households and businesses this year. She also said that Serbia will have sufficient sources of energy, crude oil, crude oil derivatives, natural gas and electricity, and that she was confident that the price of gas will not remain the same as before.

“There will be no problems in terms of supply and we will have sufficient quantities. This means that quantitatively speaking, we have everything we need, that is enough crude oil, crude oil derivatives, natural gas and electricity. But I’m not sure if we would be able to procure natural gas at the same price (270 euros),” Mihajlović warned.

She recalled that the European and global market is facing tectonic disruptions. “The earlier price of $170 per 1,000 cubic metres (of gas) is now over $1,500. We are negotiating a new (gas supply) agreement with the Russian Federation,” Mihajlović said, adding that the existing agreement between Serbia and the Russian Federation expires in May.

“The question here is at what price we can expect to buy the gas. It will not be 270 euros, that’s for sure. It will probably be higher but no one is able to predict how high,” she concluded.

(Euronews, 14.04.2022)




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