By 2025 South-East Europe’s electricity market has turned into a dense web of cross-border flows where almost every country is simultaneously an importer and an exporter, often within the same day. Annual balances, hourly flows and price patterns show a region that is no longer a peripheral appendage to the core EU market but an […]
Carbon Border Adjustment Mechanism is about to turn from a regulatory acronym into a direct price signal that reshapes capital investment for South-East European power utilities and coal-fired thermal plants. From 2026, electricity imported into the European Union will carry a carbon cost that mirrors the EU emissions trading price. For non-EU countries in the
While hydropower determines how fat the margins are in wet years, coal and lignite still determine whether the lights stay on at scale in much of South-East Europe. Serbia, Bosnia and Herzegovina, Bulgaria, Greece, Romania and North Macedonia all continue to rely on coal-fired thermal power plants (TPPs) for a substantial share of baseload. Behind
Hydropower is still the quiet balance-sheet engine of the South-East European power system. While wind and solar dominate headlines, it is the big river cascades, mountain reservoirs and ageing dams that decide whether utilities report record profits or scramble for imports at thin margins. Across Serbia, Montenegro, Bosnia and Herzegovina, Albania, North Macedonia, Croatia, Romania,
The narrative of EPS’s financial and operational stabilisation is inseparable from the utility’s evolving capital-expenditure (CAPEX) and financing strategy. After years of emergency borrowing, reactive repair spending and short-tenor loans, EPS is now managing a deliberate, long-horizon investment pipeline totalling several billion euros. These investments are structured not as ad-hoc line items but as a
Elektroprivreda Srbije (EPS) today stands as the central pillar of Serbia’s energy system, emblematic of the transition from crisis-mode operations to stable, strategic utility performance underpinning macroeconomic stability, export earnings and industrial competitiveness. After the volatility of the early 2020s — characterised by deteriorating hydrology, rising import requirements and high European wholesale prices — EPS
If operational stability defines the present of South-East Europe’s electricity utilities, investment and financing define their future. Across the region, utility balance sheets are repositioning around large capital-expenditure programmes covering renewable generation, grid digitalisation, environmental compliance, flexible backup capacity and storage. The dominant source of capital is not speculative private finance but long-tenor, policy-aligned financing
South-East Europe’s power utilities have moved from being passive state monopolies to becoming the most systemically influential corporates in their national economies. They are at once suppliers of baseload stability, hard-currency earners through cross-border electricity trade, primary vehicles for renewable-energy deployment, and quasi-sovereign financial institutions anchoring domestic banking and capital-market ecosystems. When looking across Serbia,
A critical layer beneath everything previously argued about Serbia’s potential role in mining fabrication lies in a question few address explicitly, yet every serious industrial strategist understands instinctively: who engineers the complexity, and where does that engineering capacity actually live? Engineering outsourcing, when examined deeply, becomes neither a threat nor a supplement to Serbia’s mining
Europe’s next industrial cycle is not a story of uncertain aspiration; it is a story of necessity. The continent has entered the execution phase of its Green Transition, infrastructure renewal, industrial electrification, defence-relevance strengthening, logistics modernisation and competitiveness rebuilding. That requires real factories, real equipment, real materials and real manufacturing ecosystems. It requires locations that
