Promise to IMF - Electricity price goes up in May 2016

Four large public companies will downsize their personnel next year. This can be concluded from the Memorandum of Understanding signed with the International Monetary Fund (IMF). These companies are Serbian Railways, the Electric Power Company of Serbia (EPS), Putevi Srbije, and Srbijagas.
According to the MoU, the plan is to reduce the number of workers at EPS by 1,000. Most of them are expected to retire, while some of them will have to be laid off.

The Memorandum explicitly reads that the price of electricity will be increased in May 2016 and that it may additionally go up in 2017 as well. This year, on August 1st, electricity price was raised 12%. As the MoU says, the aim is to align the price of electricity with the market price.

Also, the plan is to transform EPS into a joint-stock company on 1 July 2016 and to improve payment collection at both EPS and Srbijagas.

Međunarodni monetarni fond-MMF Beograd

Železnice Srbije a.d. Beograd

Elektroprivreda Srbije ad Beograd

JP Putevi Srbije Beograd

JP Srbijagas Novi Sad

International Monetary Fund

IMF

electricity price