For most of Serbia’s industrial history, on-site power generation and storage occupied a marginal role. Diesel generators existed for emergencies, gas engines for niche applications, and electrical storage was largely absent. These assets were treated as insurance policies—rarely used, reluctantly maintained, and economically justified only by the risk of blackouts. That framing no longer reflects

Power purchase agreements have become one of the most discussed instruments in Serbia’s industrial energy transition. For manufacturers under pressure to decarbonise, stabilise costs and demonstrate long-term energy security, PPAs appear to offer a clean solution. A renewable generator supplies electricity at a fixed or indexed price over many years, emissions are reduced, and exposure

For most Serbian industrial consumers, power hedging has historically meant one thing: securing a fixed price. The logic was simple and rational in a system dominated by coal and hydropower. Electricity prices moved slowly, volatility was limited, and the main risk to manage was gradual upward drift. Fixing a price over one or two years

Electricity has become one of the most decisive strategic variables shaping Serbia’s export competitiveness into the European Union. What was once treated as a background operating cost has evolved into a multidimensional factor influencing margins, contract stability, financing conditions, and regulatory compliance. Between 2026 and 2035, Serbian producers exporting to the EU will operate in