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- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
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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.
- Serbia almost reached its 2020 target of 27% of renewables in final energy consumption.
- Two public companies control the power and gas market: EPS for electricity (over 90% of production and sales in 2020) and Srbijagas for gas (81% of total sales).
- NIS, a subsidiary of Gazprom, is the main oil supplier.
- The power mix is dominated by lignite (over 60%), but varies depending on hydropower generation (2021).
- Residential electricity and gas prices are lower than in the EU, but electricity and gas prices have been rising since 2021.
- Lignite still covers half of total energy consumption despite the rising share of oil products.
- Many lignite-fired and hydropower projects remain on hold, despite new capacity needs.
- 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, green energy, oil and gas, energy efficiency, geology and mining, and European integration, international cooperation, and project development.
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 EU decided to ban Russian oil supplies via the Adriatic oil pipeline in Croatia as of December 2022.
Crude oil production has been declining by 4.2%/year since 2013, reaching 0.88 Mt in 2021. It had nearly doubled between 2008 and 2013 following the acquisition of NIS by Gazprom. Production covered 22% of domestic oil supply in 2021. Oil fields are located in Vojvodine, in the north of the country.
Since the liberalisation of the oil market in 2011, motor fuel prices have been following international trends. Prices fell by around 10% in 2020 but they have been rising by 13%/year since then, reaching record high in 2022. Despite this growth the price of gasoline was around 25% lower than the EU average in 2021, and that of diesel 12% lower.
Energy consumption per capita amounts to 2.4 toe (22% below the EU average in 2021), including 4 500 kWh of electricity (22% below the EU average, 2021).
Total energy consumption grew by 3.7%/year between 2019 and 2021 to 16.5 Mtoe. It declined by 3%/year between 2004 and 2014 to 13 Mtoe, mainly because of the 2014 floods that cut lignite consumption by 23%.
Issues & Prospects
According to the 2025 Energy Strategy (with projections to 2030), the share of lignite in primary energy consumption should remain dominant, although declining from 49% in 2015 to 40% in 2030. The share of oil should also decline, from 26% in 2015 to 23% in 2030, to the advantage of gas (from 12% to 16%), biomass (from 7% to 13%), hydropower and other renewables (from 6% to 8%).
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2021, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2021, %)
- 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 (2021, %)
- GRAPH 9: Final consumption market share by sector (2021, %)
- 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.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
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).
The Serbia country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
- New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
- Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.