- 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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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 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
Gas:
Gas production has been decreasing rapidly since 2015 (-7.2%/year) to 315 mcm in 2023(-4% in 2023), i.e., 11% of the consumption; according to preliminary estimates, it declined again in 2024 (-11%). Gas production more than doubled between 2007 and 2015.
Energy Use and Price by Sector
Energy Prices in Industry:
The surge in electricity prices on the SEEPEX power exchange (tripling in 2021 to €114/MWh, and more than doubling in 2022 to €273/MWh) prompted EPS to raise end-consumer prices by 70% to 135% in October 2021. The government then ordered EPS to freeze prices for business customers until the end of 2021.
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).