Serbia to buy 2,600 MWh of electricity from Azerbaijan

The State Energy Company of Serbia will purchase 2,600 MWh of electricity from Azerbaijan.

Serbian Deputy Prime Minister, Mining and Energy Minister Zorana Mihajlovic told Reuters.

Mihajlovic said that the state-owned power utility company EPS agreed with Azerbaijan over the purchase of 2,600 MWh and Belgrade was now in talks with Türkiye over the transmission of that electricity.

It was also discussing additional electricity imports from Hungary, Mihajlovic said.

Serbia plans to spend 3 billion euros ($2.99 billion) or 4.5% of its annual gross domestic product (GDP) on electricity, gas and fuel oil imports between October and March to meet rising costs of electricity and heating consumption.

Earlier, President of Serbia Aleksandar Vucic said that Serbia plans to buy gas from Azerbaijan in 2023.

The country's finances are resilient enough to provide alternatives to Russian energy sources and cope with supply shortages expected in the coming months, he said.