- Update
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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
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39 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
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Overview
This analysis includes a comprehensive Serbia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- Serbia aims to phase out coal and lignite and reach carbon neutrality by 2050.
- The implementation of the EU acquis is uneven, but the country has adopted many energy and climate strategies since 2021.
- Two public companies control the power and gas market: EPS for electricity (over 90% of production and sales in 2022) and Srbijagas for gas (80% of total sales).
- NIS, a subsidiary of Gazprom, is the main oil supplier.
- The power mix is dominated by lignite (2/3 in 2022) but varies depending on hydropower generation.
- Residential electricity and gas prices are lower than in the EU, but electricity and gas prices have been rising since 2021.
- Lignite still covers nearly half of total energy consumption despite the rising share of oil products.
- Many large wind and solar projects are under development.
- Serbia is developing new power and gas interconnections with neighbouring countries.
Institutions & Energy Policy
The energy policy is a prerogative of the Ministry of Mining and Energy. The Ministry has six main departments: electricity, renewables, energy efficiency and climate change, oil and gas, geology and mining, and international cooperation and European integration.
Energy Companies
Oil:
NIS, Nafta Industrija Srbija (Gazprom 56.15%, State 29.9%), is the main oil company. In 2008, Gazprom bought 51% of NIS's shares and acquired a further 5.15% stake in 2011. The government is now considering acquiring a majority stake in NIS to reduce its dependency on Russian oil, after the EU decided to ban Russian oil supplies via the Adriatic oil pipeline in Croatia as of December 2022.
Energy Supply
Gas:
Gas production has been decreasing rapidly since 2015 (-7.7%/year) to 328 mcm in 2022 (-9% in 2022), i.e., 11% of the consumption; according to preliminary estimates, it declined again by 10% in 2023 to 315 mcm. Gas production more than doubled between 2007 and 2015.
Energy Prices
Oil:
Since the liberalisation of the oil market in 2011, motor fuel prices have been following international trends. Prices have been rising by 11%/year since 2020 (around +14% in 2021, +12% in 2022 and +7% in 2023), reaching a record high in 2023. Despite this growth, the price of gasoline was around 18% lower than the EU average in 2023, and that of diesel 10% lower.
Energy Consumption
Energy consumption per capita amounts to 2.5 toe (14% below the EU average in 2022), including 4 500 kWh of electricity (19% below the EU average, 2022).
Issues & Prospects
Serbia's NECP expects final energy consumption to increase by 1.3%/year between 2020 and 2050 to 13 Mtoe in 2050 (including 32% of oil, 28% of electricity, 17% of gas and 13% of renewables and biofuels), while primary energy consumption should rise by 0.8%/year to around 20 Mtoe in 2050 (39% solid fuels, 26% oil, 20% gas and 17% renewables).
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2022, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2022, %)
- GRAPH 5: Gasoline & diesel prices (€/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Consumption trends by energy source (Mtoe)
- GRAPH 8: Total consumption market share by energy (2022, %)
- GRAPH 9: Final consumption market share by sector (2022, %)
The Serbia energy market data since 1990 and up to
is included in the Excel file accompanying the Serbia country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Serbia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Serbia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).