Serbia has just limited price of meat, cooking oil, milk, flour and sugar for a period of 3 months

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The Government of the Republic of Serbia today decided to limit the prices of basic foodstuffs: sugar, T-400 type flour, edible sunflower oil, pork and 2.8% fat UHT milk with 2.8, in order to prevent them exceeding the level recorded on November 15, 2021.

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The price limitation has been introduced to eliminate harmful consequences and prevent market disturbances and will not apply to reduced prices (sales, seasonal discounts or promotional sales) if they were in place on November 15, 2021, but to regular prices before discounts.

The decision, which will be applied for a period of 60 days, states that producers may not deliver these products in quantities lower than the average over the last 12 months, and for violating the above provisions, fines in the amount of 100,000 to 2,000,000 dinars are envisaged, as well as a ban on performing activities for a period of six months to one year.

Electicity price conditions

Bearing in mind the drastic increase in the price of electricity on stock exchanges in the last few months, the Government of Serbia passed a conclusion on the price of electricity for backup electricity supply to end consumers who are not entitled to guaranteed supply after December 1, 2021.

This act determines the price of electricity for companies that would conclude contracts on reserve supply, which would enable them to continue doing business and create a climate for preserving a favorable economic environment in the Republic of Serbia. The determined price of electricity will be applied until the situation on the reference stock exchange stabilizes.

In order to prevent the consequences that the increased price of electricity would have on the total market in the Republic of Serbia, the Government of Serbia adopted a conclusion on regulating mutual rights and obligations between the public company Elektroprivreda Srbije (EPS) Belgrade and buyers of electricity on the commercial market whose contracts expire on November 30. The decision allows them to extend the contracts until December 31. In this way, they would have the same the contractual conditions, primarily regarding the price of electricity, for a period of an additional 30 days.

The delayed application allows the same treatment to a group of customers that signed electricity supply contracts with EPS which enter into force on December 1, 2021, and with their consent the application will be delayed until January 1, 2022.

(Telegraf Biznis)