In 2024, Serbia’s electricity production remained largely dependent on lignite-fired thermal power plants owned by EPS, though its share is gradually declining, according to the publication Electric Power Industry of Serbia 2024 by the Association of Energy Professionals. Lignite exploitation, crucial for the system, is becoming increasingly complex, and investment funds are limited.
Ilija Batas Bjelić highlighted that while EPS can explore development options with external consultants, produce green hydrogen, and adopt new billing models, it lacks capacity to build large-scale solar plants, develop complex international projects like “HPP Đerdap 3” with Romania, or implement household solar programs like Elektroprivreda Crne Gore. Production remains stable, but seasonal consumption imbalances are evident, and market opportunities for trading at variable prices are increasing.
Investment in renewable energy in Serbia remains insufficient despite favorable borrowing options. Elektromreža Srbije has strong development plans, but existing capacities are underutilized. Its market and geographic positioning could yield additional benefits. Meanwhile, Elektrodistribucija Srbije requires modernization and digitalization due to outdated infrastructure. The Association recommends timely and detailed annual technical reports to allow expert discussion and informed planning. Publicly accessible data on production, network topology, voltage quality, and critical events would further improve transparency.
Looking at Serbia’s energy future, a domestic-resource-based mix—including hydro, wind, solar, biomass, geothermal, waste-to-energy, advanced storage solutions, and green hydrogen—represents a promising technological reality rather than an idealized vision. Acting Assistant Minister of Mining and Energy Radoš Popadić emphasized the legal groundwork laid in 2024, including the Integrated National Energy Plan, updated energy strategy, and amendments to the Energy Law. Serbia also strengthened the Energy Agency’s oversight powers, removed the nuclear construction ban, and introduced the concept of hydrogen in energy planning.
EPS inaugurated a new facility, Kostolac 3, and completed desulfurization at TENT A. CEO Dušan Živković noted a shift in perspective as private actors now control 15% of Serbia’s energy market. He raised strategic questions for EPS about balancing profitability with its role in ensuring national energy security, weighing investment choices like hydro versus nuclear power, and the financial feasibility of large-scale projects.
