Bosnian regional government limits electricity price hike to 20%

SARAJEVO, Dec.31 (Reuters) – Lawmakers in the Autonomous Bosnian-Croat Federation on Thursday evening passed a bill limiting electricity price hikes to 20% after large companies threatened not to sign new contracts with the dominant electricity supplier EPBiH.

EPBiH has offered new electricity contracts to large steel and metallurgical companies that include price increases of 50 to 200%. Many companies, some of which are Bosnia’s biggest exporters, have said such an increase will shut down their operations.

Bosnia is the only country in the Balkans that exports electricity.

Register now for FREE and unlimited access to


In an emergency online session on Thursday, the Federation’s parliament amended an electricity law allowing the government to intervene to limit price increases to businesses by more than 20% from the previous year .

The government has said it will act urgently to make the legislation effective.

The EPBiH has warned it would suffer an estimated loss of 85 million Bosnian marks ($ 49.2 million) if the legislation is passed.

($ 1 = 1,726 Bosnian marka)

Register now for FREE and unlimited access to


Reporting by Daria Sito-Sucic; Editing by Jan Harvey

Our Standards: Thomson Reuters Trust Principles.

Source link

About Mallory Brown

Check Also

Turkish inflation hits 70%, its highest level in two decades

Turkey’s annual inflation jumped to 69.97% in April, above forecasts and a two-decade high, data …