Podgorica, (MINA-BUSINESS) – It was concluded at the panel “New Energy Trends”, organized by Elektroprivreda (EPCG) as part of its energy symposium, that energy markets are entering a period of high volatility and higher prices, making electricity storage one of the most important factors in the future development of the power sector.

According to a press release from EPCG, participants agreed that flexibility will be crucial for the successful integration of renewable energy sources into the system, without which a sustainable energy transition cannot be achieved.

Dragan Ostojic, a member of the Supervisory Board of Serbia’s EPS, said three key trends can be identified in the energy sector.

“The first is related to prices, the second to new technologies emerging on the market, and the third, which has not been discussed much so far, is the changing role of consumers,” Ostojic said.

“We are all aware that we have entered a period of significantly increased turbulence and price volatility, as well as generally higher prices. This year alone, we have seen energy prices rise by around 50 percent as a result of geostrategic and geopolitical developments,” he added.

Ostojic explained that these developments are closely linked to the energy sector, as many geopolitical processes are directly connected to global energy trends.