EPS readies for a possible nuclear role as Serbia reshapes its power mix

Serbian state-owned power utility EPS is preparing to take a leading role in the country’s potential development of nuclear energy, according to CEO Dušan Živković. Speaking at an energy conference in Zlatibor, he said the company already has the scale and technical expertise needed to operate a future nuclear facility, while stressing that Serbia must also develop a qualified nuclear workforce to support any transition.

Nuclear as part of Serbia’s longer-term restructuring

EPS frames the possible shift toward nuclear power as part of broader restructuring of Serbia’s energy mix. As decarbonization efforts accelerate, Živković argued that traditional baseload sources will need to be replaced, with nuclear increasingly viewed as a key long-term option. He also pointed to international experience, saying countries with nuclear capacity are often among the most economically developed—an argument he used to underline why Serbia should evaluate its potential role in this segment of the sector.

Investment pipeline continues alongside transition planning

While discussing nuclear ambitions, EPS is simultaneously advancing several major infrastructure projects. The construction of the Bistrica pumped-storage hydropower plant is described as the company’s most important strategic investment, with initial project documentation already completed and first tenders for supporting works expected soon. In parallel with hydropower development, gas-fired generation remains under consideration as a transitional solution, including discussions about a potential plant in Niš.

Recent performance supports capacity expansion

EPS also reported strong operational and financial performance in recent years, supported by completed investment projects. These include commissioning a new coal unit at Kostolac, adding wind and solar capacity, and upgrading key hydropower plants. The utility said it has implemented significant environmental improvements as well—particularly through flue gas desulfurization systems at major thermal facilities—leading to sharply reduced emissions.

Overall, EPS said it has added several hundred megawatts of new capacity in recent years, strengthening energy security and modernizing its generation portfolio. The expansion is presented as part of efforts to align the utility with long-term energy transition objectives.

Regulatory risk: EU carbon border adjustment mechanisms

Živković also highlighted regulatory challenges affecting how Serbia’s power exports compete in Europe. He warned that the European Union’s carbon border adjustment mechanisms could weaken regional electricity export competitiveness even though there is strong demand within the EU. He added that resolving these regulatory issues could unlock significant export potential from renewable energy sources and improve the region’s position in the European electricity market.

Taken together, EPS’s message suggests that any move toward nuclear would require both industrial readiness and human-capital development—while near-term investment priorities continue to focus on balancing capacity additions with environmental upgrades and navigating evolving EU rules that shape export economics.