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Serbia energy report

Serbia energy report
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Format
3 files (PDF report, 2 Excel files)
Pages
39 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • 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.
2/3
share of lignite in power generation in 2022
33.6%
share of renewables in final consumption in 2030
-40%
in GHG emissions by 2030 compared with 1990

  • 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

    Resources:

    Serbia has limited oil and gas reserves (around 11 Mt and less than 5 bcm, respectively, in 2022), but has significant lignite reserves (7.1 Gt). Its hydroelectric potential is estimated at 27 TWh.

  • Energy Prices

    Gas:

    Residential gas prices were relatively stable at around €3.4c/kWh between 2017 and August 2022, when they rose by 9%; in 2023, they surged by 21%, but remained much lower than the EU average (-71% in 2023). Industrial prices declined between 2019 and 2021, before surging in 2022 (+26%) and again in 2023 (+20%). In 2023, they were 50% lower than the EU average.

  • 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, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.

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).