Vucic: No electricity, gas price increases until end of year

Vucic told the Serbian state TV (RTS) that while electricity prices are rising worldwide and Serbia is currently exporting power, it would be beneficial to invest in gas-fired power plants in the coming years.

“If we could build one large gas power plant, it would largely secure our future electricity needs,” said Vucic, who is attending the COP29 Climate Change Conference in Baku, Azerbaijan.

He explained that such projects are costly and added that the main topics at COP29 include global peace preservation and funding for these types of projects.

According to him, it would be advantageous if Azerbaijan, the conference host, could participate in building either one large or two smaller gas power plants in Serbia.

“This would solve our problems for the next seven, eight, maybe even nine years,” said the Serbian President.

He also emphasized the importance of Serbia considering nuclear modular reactors as an option.