Serbia’s recently approved Energy Balance for 2026 outlines a steady trajectory for the country’s electricity sector, with total gross electricity generation projected to reach 39,299 GWh. This figure marks a 5% increase compared to the previous year. The dominance of thermal power plants is set to continue, contributing over 62% of the overall production.
Hydropower is expected to maintain its position as the second-largest source of electricity, estimated to generate around 9,833 GWh, which constitutes approximately a quarter of total output. Meanwhile, wind energy is anticipated to account for just over 5%, with all other energy sources contributing significantly less.
The installed generation capacity in Serbia stands at 10,198.3 MW, comprising 4,322 MW from thermal sources, 3,014 MW from hydropower, and 1,004 MW from wind energy. Additionally, combined heat and power facilities contribute about 486 MW. As for electricity consumption, a slight increase of 6% is expected from the previous year, with households representing the largest segment at 44.5% of final usage. The industrial and construction sectors collectively account for roughly one-third of total consumption.
On the trade front, Serbia plans to import around 6,931 GWh in 2026—a reduction of approximately 14% compared to 2025—while exports are projected to rise modestly by 2%, reaching an estimated 7,410 GWh. Transmission and distribution losses are forecasted at about 3,796 GWh, resulting in final electricity consumption of approximately 29,972 GWh—about a 1% increase from the previous year.
The demand structure indicates that households remain the primary consumers of electricity in Serbia. This is followed by commercial and public services at 19%. Both transport and agriculture sectors contribute just over 1% each. Analysts highlight that Serbia’s industrial consumption appears lower than expected due to the categorization practices that separate industrial and construction activities from commercial services. Together, these sectors represent nearly 53% of total consumption but still fall short of Western European averages where industrial use typically accounts for around 70%, underscoring the comparatively limited role of heavy industry in Serbia’s energy landscape.
