Energy near-sourcing as Germany’s industrial pressure valve: How Serbia fits into power, grid, equipment and services value chains

Germany’s energy transition has entered a phase where technical feasibility is no longer the binding constraint. The bottleneck is industrial execution under cost, time and risk pressure. Power generation assets can be planned, grids can be modelled, and hydrogen strategies can be drafted, but the physical delivery of energy infrastructure—plants, substations, converters, storage systems, control […]

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Cross-border electricity pricing distortions in South-East Europe: Recent cases, structural mechanics and industrial consequences

South-East Europe’s electricity markets now operate under formally liberalised and largely EU-aligned frameworks, yet their real-world behaviour continues to reflect structural fragilities that distinguish the region from deeper and more liquid European markets. Limited system size, persistent import dependence, thin trader participation and constrained interconnections combine to produce outcomes that are legally compliant but economically

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CBAM and the unintended collision between Europe’s climate policy and its renewable-industrial base

The entry into force of the Carbon Border Adjustment Mechanism on January 1 is not occurring in isolation. Its effects extend well beyond traditional heavy industry and are beginning to intersect with the European Union’s renewable energy, battery and broader clean-technology value chains in ways that were insufficiently anticipated during the design phase of the

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Manipulation of electricity import prices in SEE power market

A report by the Kosovo Transmission System and Market Operator (KOSTT) suggests possible manipulation of prices for electricity imported into Kosovo, implicating Serbia’s state energy company Elektroprivreda Srbije (EPS) and private trader Noa Energy Trade in coordinated behaviour during cross-border capacity auctions in 2025. The findings raise questions about how auction mechanisms were used to inflate transmission costs beyond the underlying electricity

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Why EPS ceded coal landfills to foreign JV partners instead of building solar and storage alone

The decision by power utility EPS to open its coal ash landfills, overburden dumps and degraded mining land to foreign joint-venture partners for solar and battery storage projects looks puzzling at first glance. EPS owns the land, controls grid access, understands the system better than any private player, and in theory enjoys implicit sovereign backing. In

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EPS between reversible hydropower and gas plants: Flagship projects that never cross the point of no return

Within EPS power utility company the story of repeated feasibility does not stop with classical hydropower. It becomes even more pronounced when looking at projects explicitly designed to solve Serbia’s most visible system weaknesses: flexibility, balancing and security of supply. Reversible hydropower and gas-fired generation have been identified for more than a decade as strategic answers

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Hydropower in South-East Europe: Feasibility without commitment, projects without groundworks

Across South-East Europe, hydropower development has settled into a stable but deeply unproductive equilibrium. Feasibility studies are commissioned, revised and relaunched with increasing technical sophistication, while the physical projects they describe remain untouched. This is not a failure of hydrology, engineering or economics. It is a deliberate system in which analysis substitutes for decision-making and

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Perspective gas interconnections but never converted into steel in the ground

Across South-East Europe’s gas sector, feasibility studies have become a permanent layer of the energy system rather than a transitional step toward construction. The region is not short of concepts, routes, demand forecasts or engineering detail. What it lacks is the moment when capital, regulation and political ownership converge tightly enough to force execution. The

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Carbon cost pass-through in post-Russian SEE energy systems 

The withdrawal of Russian ownership from oil assets across South-East Europe has not only altered who controls energy infrastructure, but also how costs are transmitted through the energy system. One of the most consequential shifts lies in the treatment of carbon. Under the previous ownership and pricing regime, carbon costs were often implicit, absorbed within

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Hydrogen economics under gas repricing 

Hydrogen has been positioned across South-East Europe as a strategic bridge between energy security, industrial decarbonisation and European integration. National strategies, pilot projects and policy roadmaps have converged around hydrogen as a future-proof solution capable of absorbing surplus renewables, decarbonising heavy industry and anchoring new investment cycles. Yet the ownership exit of Russian oil assets

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