Public money continues to flow through various channels in Serbia’s energy sector to companies linked to Nikola Petrović, who has close ties to President Aleksandar Vučić. Companies associated with Petrović have for years generated substantial profits under a system of privileged renewable energy producers, primarily through small hydropower plants. Between 2013 and 2023, the state paid approximately €23.4 million for electricity generated by these plants.
After exiting this support scheme, Petrović’s business interests shifted toward public procurement. The company “GBG snabdevanje”, founded in 2023 and co-owned by Petrović, began supplying electricity to public institutions. Since 2024, it has secured contracts worth approximately €6.3 million in total. These tenders have typically attracted only two bidders, with minimal differences between their offers: “GBG snabdevanje” and the state-owned utility EPS. Experts from Transparency Serbia and the CEE Bankwatch Network warn that this points to weak competition. Other licensed suppliers may perceive little realistic chance of success, or tender conditions may be designed to favor only a limited number of companies. In either case, there is a risk that public contracts are not awarded at fair prices or under equal conditions.
Further concerns arise from close personal and business ties within the energy sector. GBG is headed by Aleksandar Slijepčević, a former senior manager at the state-owned energy company EPS. According to the Office for the Prevention of Corruption, his transition to the private sector did not constitute a conflict of interest; Petrović declined to comment on the matter. In addition, a significant share of public contracts in this sector has been awarded to companies owned by Ivan Pantelić, Petrović’s business partner. The reluctance of key actors to comment leaves unresolved questions regarding transparency, conflicts of interest, and the concentration of influence in Serbia’s energy market.
The article by Nina Čolić was originaly published with the support of the project Enhancing the Capacities of Serbian Independent Media in Informing about the Green Transition Challenges by CINS.
