Bosnia's Federation govt approves 9.7% rise in wholesale gas price

Under the decision, the wholesale gas price is rising to 1,095 marka ($542.4/559.9 euro) per 1,000 standard cubic meters Sm3, VAT excluded, applicable as of October 1, the Federation's government said in a statement.

The previous wholesale gas price was 998 marka per 1,000 Sm3.

The government added that it acted at the request of state-owned gas supply company Energoinvest, which sought urgent price adjustment in line with market developments.

Local daily Avaz reported earlier this week that Russia's Gazprom has increased the price of gas deliveries to Energoinvest by 9.7% under a new contract which came into effect on October 1.

The government of the Federation raised the wholesale gas price by 23.4% in July and by a further 21.7% in April.

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

(1 euro = 1.95583 marka)