- Update
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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
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67 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- ENERGY AND CLIMATE POLICY FRAMEWORK
- ENERGY COMPANIES
- ENERGY SUPPLY AND DEMAND
- ENERGY USE AND PRICE BY SECTOR
- ISSUES AND PROSPECTS
- STATISTICS
- ABBREVIATIONS
- GLOSSARY
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After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).
Overview
Serbia is advancing its energy and climate policy framework, aligning with EU standards through legislative reforms and strategic initiatives. Recent updates to its Energy Law and adoption of the National Energy and Climate Plan (NECP) outline targets for emissions reduction, renewable energy expansion, and energy efficiency by 2030. The government is prioritising diversification of energy sources—including nuclear, renewables, and gas—while phasing out coal. Key institutions, such as the Ministry of Mining and Energy and regulatory bodies like AERS, oversee policy implementation, market liberalisation, and infrastructure development. Challenges remain in balancing energy security, EU integration, and sustainability amid evolving regional dynamics.
Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.
Highlights
- Serbia is slowly integrating the EU acquis.
- In 2024, Serbia adopted its NECP and amended its Energy Law, paving the way for nuclear.
- Two public companies control the power and gas market: EPS for electricity (around 90% of production and sales in 2024) and Srbijagas for gas (nearly 80% of total sales).
- NIS, a subsidiary of Gazprom, is the main oil supplier.
- The power mix is dominated by lignite, but its share varies depending on hydropower generation (2/3 on average since 2020).
- Final energy consumption decreased in 2023, after increasing since 2014.
- Electricity and gas prices have increased significantly since 2022 for both industry and households but remain lower than the EU average.
- Many large wind and solar projects are under development.
- Serbia is developing new power and gas interconnections with neighbouring countries.
Energy & Climate Policy Framework
The Ministry of Mining and Energy is responsible for energy policy through six main departments: electricity, renewables, energy efficiency and climate change, oil and gas, geology and mining, and international cooperation and European integration.
Energy Companies
Gas:
NIS is the only natural gas producer. Its gas production is declining (-2.3% in 2024 to 291 ktoe).
Srbijagas, the national gas company is in charge of imports (2.4 bcm in 2024, -8%).
Energy Supply & Demand
Resources:
Serbia has limited oil and gas reserves (around 11 Mt and less than 5 bcm, respectively, in 2024), but has significant lignite reserves (7.1 Gt). Its hydroelectric potential is estimated at 27 TWh.
Energy Use and Price by Sector
Energy Prices in Residential:
Electricity prices are regulated for households, but not for non-householdsmall customers, and are kept low for political reasons. In a context of soaring electricity prices on the SEEPEX power exchange (tripling in 2021 and more than doubling in 2022), the government ordered EPS to limit the increase in residential prices to 9% in 2021; the growth was also limited in 2022 (+4.6%).
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: Primary Consumption Trends by Energy Source
- Graph 2: Total Consumption Market Share by Energy (2023)
- Graph 3: Installed Electric Capacity by Source
- Graph 4: Installed Electric Capacity by Source (2023)
- Graph 5: Gross Power Production by Source & Consumption
- Graph 6: Power Generation by Source (2023)
- Graph 7: Crude Oil Production & Consumption
- Graph 8: Petroleum Products Production & Consumption
- Graph 9: Gas Production & Consumption
- Graph 10: Coal Production & Consumption
- Graph 11: GHG Emissions and CO2-energy Emissions
- Graph 12: Final Demand Trends by Energy Source
- Graph 13: Final Consumption by Sector
- Graph 14: Final Consumption Market Share by Sector (2023)
- Graph 15: Final Consumption in Industry by Energy Source
- Graph 16: Energy Prices Including Taxes in Industry
- Graph 17: Final Consumption in Transport by Energy Source
- Graph 18: Energy Prices Including Taxes in Transport
- Graph 19: Final Consumption in Residential, Services, Agriculture by Energy Source
- Graph 20: Energy Prices Including Taxes in Residential
- Graph 21: Upcoming New Capacity by Energy Source
- 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).