Bosnia's Federation declares state of power supply emergency for 2024

In a state of endangered power supply security, the Federation's government can introduce special measures for the formation and control of electricity prices, it said in a press release on Thursday.

Based on current market conditions, the average price of electricity for the year 2024 would be 141.53 euro($154.2)/MWh, representing an average increase of 87% compared with the previous year, the entity's government said, citing estimates by power utility Elektroprivreda BiH.

"Without the application of any form of price restriction, over 96% of current electricity customers affected by previous decisions on price limitations would experience an increase in electricity supply prices of over 60%," the entity's government said.

The Federation is one of two autonomous entities that form Bosnia and Herzegovina. The other entity is the Serb Republic.

($ = 0.918034 euro)