The Kopaonik Business Forum discusses electricity market integration, renewables and carbon pricing in Serbia

At the 30^th edition of the Kopaonik Business Forum in Serbia, a high-level panel discussed the country’s options and challenges on the path towards the transition of its energy sectors. Alongside participants including Minister Dubravka Dedovic, the CEO of Srbijagas and the World Bank’s country manager, Deputy Director Dirk Buschle advocated for the usage of an open and integrated electricity market in pursuing Serbia’s ambitious policy towards investments in renewable energy.

“Integration of Serbia’s advanced electricity market with Europe is a major asset for the green transition, and can also make balancing intermittent renewables more cost-efficient” Buschle said. In December 2022, the Ministerial Council paved the way for full power market integration in December 2022. The Secretariat is currently working with the Serbian authorities in the finalization of amendments to the Law on Renewables, which include solutions for the balancing challenge.

Referring to the Berlin Declaration and the Energy Community’s Decarbonization Roadmap, Buschle underlined: “The upcoming discussions on a regional carbon pricing mechanism in line with the European Emissions Trading System (ETS) is important in the context of the carbon border adjustment mechanism to be applied by the European Union and will generate revenues to promote the transition and keep prices socially acceptable.”