The level of investments in energy in Serbia is low and in order to boost investment activity the country needs to harmonize its energy price policy with the needs of the economy, advisor with the EU Delegation in Serbia Jose Gomez-Gomez said Monday.
The EU will continue to support the development of Serbia’s energy sector, in which it has invested EUR 550 million since 2005, Gomez said at the conference Energy Day Serbia, held for the first time in the country as part of the EU Sustainable Energy Week which starts Monday and ends April 15.
International financial institutions are ready to support energy projects in Serbia, but are often frustrated that in some instances the money is not used for the intended purposes and projects, Gomez pointed out.
He stressed that European partners and international financial institutions need proactive partners in the Serbian government, who will propose good projects whose realization would contribute to general progress in Serbia.
The EU has acknowledged Serbia’s progress in developing the energy sector, but a lot remains to be done, especially in terms of legislation which is needed to harmonize the Serbian energy sector with that of the EU, Gomez assessed.
State Secretary with the Serbian Ministry of Energy Dusan Mrakic said that the structure of energy resources is unfavorable because coal exploitation is prevalent, along with large oil and gas imports.
Mrakic pointed out that renewable energy sources should be used more, something the ministry is working on intensively.
It is also working on modernizing Serbia’s oil refineries, diversifying gas sources and completing the South Stream gas pipeline and underground storages.
Mrakic announced that a new energy law will be passed by the end of June, and that a new strategy for energy development through 2030 will be prepared by the end of the year, which will define new development directions of Serbia’s energy sector.