energy crisis

EPS faces a new energy crisis: Rising imports, delayed investments and the high cost of inaction

Serbia’s state energy company, EPS, enters 2026 under conditions that are no longer temporary disturbances but structural failures. Electricity imports are climbing again, especially in the winter months, while domestic generation remains insufficient to cover rising demand. Hydropower output is below plan. Coal units are aging and inefficient. Renewable projects exist mostly on paper. And the investments that were supposed to modernize Serbia’s energy backbone have faced years of delay. Energy analysts and local media have documented a decade-long stagnation…