Mining and Energy Minister Zorana Mihajlovic said on Thursday that the Serbian government spent 1.5 billion Euro on imports of electricity and natural gas to date.

She said that electricity prices rose to unbearable levels and warned that consideration has to be given to saving power. According to the minister, Serbia has the lowest electricity prices in Europe but will raise prices by 6.5 percent. “The most important thing is securing the money to pay for fuels and power by March, producing poer and being able to import enough, Mihajlovic said.

She said energy efficiency is the prmary issue in saving power along with investments that, she added, should have been made in the national power company (EPS). “We have to invest in power systems like we did in roads. If the energy industry isn’t stable, Serbia will not be independent,” the minister said.