FBiH Employers' Association: Companies that previously signed contracts for more expensive electricity should be allowed a 20 percent price increase

SARAJEVO, (Patria) - The Employers' Association of the Federation of Bosnia and Herzegovina insists that the Government of the Federation of BiH, when making a decision on limiting electricity prices, oblige electricity companies to sign addendums to contracts with companies that have previously signed supply contracts, and by which their prices have been increased by more than 20 percent. The UPFBiH emphasized that these companies must receive addendums to their contracts, which will increase their prices by a maximum of 20 percent and which will take effect from 01.01.2022.

The UPFBiH thanks the leadership and deputies of the House of Representatives of the Parliament of the Federation of BiH for urgently organizing an online session at which an amendment to the Law on Electric Energy in the Federation of BiH was adopted, in the text as adopted by the House of Peoples. The UPFBiH thanks the leadership and delegates of the House of Peoples of the Parliament of FBiH who contributed significantly to the adoption of the amendment to the Law on Electric Energy in FBiH, which enables the Government of FBiH to make an appropriate decision and limit the increase in electricity prices for the economy to 20 percent. An increase in electricity prices for the economy of 20 percent represents the upper limit of the increase that allows most companies in FBiH unimpeded production, continuation of export activities, retention of existing and employment of new workers, and continuation of the investment cycle.

On the other hand, prices of goods and services on the market will not rise drastically due to the enormous increase in electricity prices, thus protecting the living standards of citizens.

Also, this increase will enable Elektroprivreda FBiH to compensate for the previously agreed increase in the price of coal, as well as to continue the investment cycle. The UPFBiH extends special thanks to its members, the media, and the public in FBiH for their immeasurable contribution to the realization of this activity.