Serbia plans to hike electricity prices by 12%, gas tariffs by 10% – media

The decision was reached after a heated discussion at a high-powered get-together during the weekend, news outlet Blic (www.blic.rs) reported, not naming a source.

According to the media, Srbijagas CEO Dusan Bajatovic was initially pushing for a 25% hike in gas tariffs while EPS director Aleksandar Obradovic was eyeing a 27% increase in the electricity prices. The new gas tariff will be 38.5 dinars ($0.44/0.34 euro) per cubic metre.

The main argument that the two energy bosses made in favor of the requested tariff hikes is the unsustainability from an economic point of view of the current prices which are dooming the two companies to losses, Blic said.

(1 euro=113.7738 Serbian dinars)