Serbia freezes electricity prices to help businesses through energy crisis

by Cristian Florescu

The Government of Serbia has ordered state power utility Elektroprivreda Srbije (EPS) to keep electricity prices for business customers unchanged until the end of November in a move aimed at supporting the economy amid recent dramatic price hikes, of between 70% and 135%, EPS officials said at a panel titled “Electricity prices for business: What to expect”, organized by the American Chamber of Commerce in Serbia (AmCham), write

Capping electricity prices for November, according to panellists, is only a short-term fix, while prices are expected to remain high until the end of the year and in the first quarter of 2022.

Experts say that electricity prices will not revert to levels seen before the ongoing energy crisis, of about EUR 60 per MWh, and that the average price in 2022 is projected to be around EUR 120 per MWh.

They recommend businesses to change the way they purchase electricity, proposing solutions such as trading on power exchanges, concluding corporate power purchase agreements with wind farms and solar power plants, and becoming prosumers by building their own electricity generation capacities.

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