Cadez: Economy Should be Able to Get Power Supply from Local Sources at Capped Prices

The disturbances in the international market of electrical energy are creating huge costs for the economy and companies are facing the problem of how to maintain the operations and secure the raw materials, because the electricity price increase leads to an increase in the price of everything else, warns Marko Cadez, the president of the Chamber of Commerce of Serbia (CCIS). Cadez sees a temporary solution in supplying the economy with power from local sources at capped prices.

Cadez reminds that the new contracts on the procurement of electrical energy in the free market, signed in the past days, have been three to four times more expensive for companies than the previously contracted deliveries and cites the example of companies from the rubber industry, for which the electricity procurement costs under the new contracts would exceed the employee wage funds.

– No one expected this kind of a disturbance and the huge increase in the prices of gas and electrical energy – Cadez said on the “Oko” TV show on RTS.

According to the president of the CCIS, the complicated situation could be temporarily solved by the prolonging of the new contracts for 60 to 120 days in order to see what the market will act like, as well as the supplying of the economy from local sources at a price that would be capped, while not creating losses for the power system.

– EPS is the one which, in extraordinary situations such as this, preserves the economic system – Cadez pointed out.

The president of the CCIS expressed his expectation that the Work Group will find a solution that would enable the economy to operate smoothly as soon as possible.

The price of natural gas in Europe has jumped to the record USD 1,900 per 1,000 cubic meters.

Privredna komora Srbije

Elektroprivreda Srbije ad Beograd

Chamber of Commerce of Serbia

EPS

Marko Čadež

gas

electricity

gas price increase

electricity price increase