Serbia’s state-owned power utility, EPS, has sent revised electricity supply offers to businesses, proposing price increases ranging from 8% to 12%.
Over the past year, businesses have been paying €94 per megawatt-hour (MWh) for electricity. However, EPS has now issued new contract offers with higher rates. According to Zoran Drakulic, owner of Point Group, companies have received two options:
- A price of €106.14/MWh, valid until the end of 2025 (an 8% increase).
- A price of €101.9/MWh, valid until the end of 2026 (a 12% increase).
Drakulic has criticized these offers, arguing that electricity prices for businesses are significantly lower in neighboring countries such as Montenegro, Bosnia and Herzegovina, and Croatia. He noted that since May 1, 2023, electricity prices for businesses in Serbia had been reduced by about 20%, down from €119.67/MWh in 2023.
EPS explained that in September last year, a new pricing methodology was introduced for commercial consumers. This approach aims to balance competitive electricity prices with financial stability and sustainability for the utility.
Under the new model, EPS offers various pricing structures, including:
- Fixed-rate contracts for the entire duration.
- Periodic price adjustments based on market conditions.
- Variable rates linked to electricity prices on the reference exchange, changing monthly.
Businesses opting for variable pricing can adjust their electricity consumption strategically to manage costs.
EPS also emphasized that companies are free to choose from 80 licensed electricity suppliers operating in Serbia. The updated pricing methodology, set to take effect in September 2024, seeks to establish fair electricity prices while maintaining financial stability.
Experts note that EPS categorizes customers based on their electricity consumption levels—whether measured monthly or annually—and usage patterns (day vs. night). Typically, businesses with lower electricity consumption face higher prices, while large consumers can access discounts from suppliers.