Bajatovic: Price of natural gas to increase once, maybe twice in 2023

Tanjug/Jadranka Ilić

The price of natural gas will go up at least once, maybe even twice this year, said the CEO of Serbia’s national gas supply company, adding that the price increase will apply to both households and to non-domestic consumers.

Srbijagas CEO Dusan Bajatovic said the reason for the price increase is that Srbijagas sells gas on the local market at a lower price than it pays the supplier.

The International Monetary Fund (IMF), with which Serbia has signed a stand-by arrangement, has asked that, in addition to the January 2023 electricity price raise, prices of electricity and gas be additionally increased three more times – on May 1 and November 1, 2023 and on May 1, 2024.

This is contained in the document published by the IMF following the approval of the two-year stand-by arrangement worth 2.4 billion euros.

According to the IMF, gas prices should go up by “at least” ten percent each time, while the price of electricity should increase by at least 8 percent each time.

Srbijagas CEO said that the IMF has approved a total of 800 million US dollars for the needs of Srbijagas, which he said – is not enough.