State-owned power utility ERS has been lending electricity to its Serbian counterpart EPS since last October, thus helping the neighboring country to maintain the stability of its electricity system.
According to media, so far ERS has transferred some 38 million euros worth of electricity to Serbia.
However, this amount covers the transfers by the end of January, but if February and the first three weeks of March are accounted for, the sum rose to more than 50 million euros, given the average price of 245 euros/MWh.
Since mid-October 2021 to the end of January 2022, a total of 155,000 MWh of electricity was transferred, most of it (69,860 MWh) during December .
According to the informal agreement between Serbian President Aleksandar Vucic and the member of BiH Presidency Milorad Dodik, the Republic of Srpska (RS) is to export electricity to Serbia free of charge, while Serbia will return the same amount in the future.
Due to poor condition of its electricity generation facilities and the lack of coal supply, EPS has been importing significant amounts of electricity during the winter. It is estimated that more than 500 million euros has been spent on electricity imports, with prices reaching up to 575 euros/ MWh.