Bosnia and Herzegovina: Elektrokrajina’s closing of branch offices

, SEE Energy News

As a part of its restructuring process, Bosnian electricity distributor Elektrokrajina, a subsidiary of power utility ERS, plans to close its branch offices in 11 towns as of 1 January 2021. The company said that its shareholders will vote on this proposal at the next Extraordinary Meeting scheduled for 16 December.

Elektrokrajina recorded a net loss in the amount of 12 million euros in the first nine months of 2020, compared to a loss of 1.8 million euros recorded in the same period last year. The company’s operating revenues dropped by 25.2 % in the first nine months of the year and reached 64.5 million euros, while its operating costs also dropped by 14.7 % to 88.5 million euros in the same period. In late 2019, ERS took over a part of Elektrokrajina electricity distribution business, taking a part of its revenues at the same time. ERS’ Directorate for electricity supply took over the supply of large industrial consumers as of 1 September 2019, while households and commercial customers remained to be supplied by regional distribution subsidiaries.