Monday, July 22, 2024
HomeFinanceSerbia secures 165 mln euros of EU aid for energy sector

Serbia secures 165 mln euros of EU aid for energy sector

The Serbian government has secured 165 million euros in aid for the country’s energy sector, following the signing of a Financial Agreement between Serbia’s Minister for European Integration, Tanja Miščević, and the Deputy Head of the EU Delegation in Serbia, Plamena Halačeva, the Serbian Ministry for European Integration announced on 14 February.

The agreement aims to aid Serbia in responding to the ongoing energy crisis by financing Serbia’s “energy road map” which outlines what the EU funds ought to be spent on.

The roadmap lists a number of measures, including subsidies for vulnerable households, which will enable the government to extend and expand the current subsidy scheme, originally introduced in 2022. This also includes the extension of an energy price cap for small and medium-sized businesses, also introduced in 2022.

“A donation of 165 million euros is equal to 1 per cent of Serbia’s total budget and in just one day our country received this amount from EU citizens, which is a huge help! Thank you EU citizens for your help in overcoming the energy crisis! EU and Serbia, together for energy!” said Serbia’s Mining and Energy Minister, Dubravka Djedović via Instagram.

In addition, the roadmap sets out energy-saving measures through incentives for electricity consumers. It also sets out plans for increased competition in the gas and electricity markets, which includes separation and certification of all gas operators, opening of the gas market and conducting auctions for producers of electricity from renewable sources.

The funds will also be used for the “promotion of energy efficiency and renewable energy sources.” This will consist of a subsidy scheme for households in multi-family residential buildings to implement energy efficiency measures and subsidies for solar panels, and heat pumps for private homes, small and medium-sized enterprises and public buildings.   

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular