Bosnia: Electricity trade deal of two power utility companies worth 11MEUR

25. November 2013. / SEE Energy News

Chief executives of the company “Elektroprivreda BiH” Elvedin Grabovica and PC “Electric Croatian Community of Herceg-Bosna” (HZ HB) Nikola Kresic signed on Wednesday last week in Mostar contract of sale of electricity in 2014, amounting to 11MEUR. Grabovica said after the signing that to 229 gigawatt-hours of electricity will be delivered to “Electric Power Industry of HZHB”, which is a continuation of business cooperation between the two power utilities, especially in electricity trade.

He pointed out that his company, after conducting all the necessary preparations, organized a tender for the sale of balance surplus of 1,200 gigawatt-hours of electricity in 2014, announced the “Electric Power Industry of Bosnia and Herzegovina”.

Kresic said that electricity purchased from “Electric Power Industry of Bosnia and Herzegovina” is intended for the period when it is most needed to “Electric Power Industry of HZHB”, from 1 July to  30 September.

– Cooperation between the two companies on the basis of other issues is at a high level, and of particular importance, because they are a state-owned companies – said Kresic.

Contracts for the sale of balance surplus of electricity in 2014, “Electric Power Indusry of BiH” signed with six companies from BiH and one from abroad, which has significantly reduced the risk of collection, the statement said.

Board meeting of two power companies was held prior to contract signature, on which, among other things, it was discussed about the activities related to the initiative to start the procedure at the Constitutional Court of the Federation of Bosnia and Herzegovina to review the constitutionality of the waters of the Herzegovina-Neretva Canton, and about the law on the separation and allocation of part of the company income generated using hydro accumulative objects of Federation of BiH.

Source; Serbia Energy See desk

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