Energy Minister says higher power prices needed this year

“Higher electricity prices are being negotiated and we think they need to be raised before the new year. We will try to keep the price rise as low as possible but the correction is needed for the sake of the long-term stability of our energy system,” the minister told Tanjug.

She said that budget funds have been included to cover discounts for poor households and added that sufficient amounts of fuels have been secured to cover the needs of the economy and households this winter.

According to the minister, gas and electricity prices were at low levels for decades which, she said, is untenable in the long term. “Our job is to increase investments and that requires a company that can finance investment projects,” Djedovic said.
“The goal is to have the lowest or among the lowest prices of electricity and gas in the region. We managed that last year when prices rose by more than 100 percent as they did in North Macedonia and Romania,” she said.