Copenhagen Economics has successfully advised the Republic of Serbia and Elektroprivreda Srbije (EPS), one of the largest companies in the energy sector in the Balkans. Thorough economic analysis combined with expert legal advice had a significant impact on the decision of the authorities to close a state aid investigation against EPS.

On 25 June 2018, the Secretariat of the Energy Community announced that it had closed the case regarding three alleged state aid measures from the Republic of Serbia to EPS. Two of the measures related to the improvement of environmental protection and exploitation technology at the ‘Kolubara’ mining basin, whereas the third related to a transfer of property ownership.

During the investigation, Copenhagen Economics cooperated closely with a team of legal experts from Gecic Law. In particular, Copenhagen Economics produced an economic expert report containing an in-depth assessment of the three measures. The legal and economic arguments put forward by Copenhagen Economics together with Gecic Law convincingly led to the decision by the Secretariat of the Energy Community to close the case. The first two measures were found to be compliant with state aid rules, whereas the third measure was deemed not to constitute state aid.  

For more information on the case, please see webpage of Gecic Law or contact Adina Claici.