News

Utility pays eight municipalities EUR 6.1 million

Published

July 16, 2015

Comments

0

Share

Published:

July 16, 2015

Comments:

0

Share

Bosnian power utility Elektroprivreda HZHB said it paid eight local municipalities a total of BAM 12 million (EUR 6.1 million) in the first half of the year in compensation for using their hydroelectric storage facilities, SeeNews reported.

The company is legally obliged to redirect a portion of its revenues from the use of storage facilities, the company said in a press release. The municipalities are obliged to invest 50% of the money in infrastructure projects in areas damaged by hydroelectric storage, EP HZHB said.

HZHB’s chief executive told at a press conference that the compensation fees are not only the highest in the region, but also the whole world. The company said it will suffer damage after Fadil Novalić, prime minister of the Federation of Bosnia and Herzegovina, withdrew his predecessor’s decision to contest the disputed local water management law at the entity’s constitutional court.

Since 2009, EP HZHB has paid local municipalities EUR 60.3 million in compensation under this legal obligation. Elektroprivreda HZHB is based in Mostar, in Federation of Bosnia and Herzegovina, the larger of two entities, the other one being the Republic of Srpska. The company is the smallest of the three state-controlled power utilities, operating seven hydropower plants with a total capacity of 860 MW.

Related Articles

coal-power-generation-eu

Fossil fuels returned as top energy source in EU power generation in 2021

01 July 2022 - Among renewable sources, the biggest increase in 2021 was seen in electricity produced from solar energy, 13%,

Floating wind farm project unites fishermen, investors in Ireland

01 July 2022 - A joint 2 GW floating wind farm project is the first cooperation in the world between the two opposing sectors.

Voltalia breaks ground Albania biggest solar park Western Balkans Karavasta

Voltalia breaks ground in Albania for biggest solar park in Western Balkans

01 July 2022 - The site for the Karavasta solar park spans 196 hectares in Fier county in Albania's west. The planned capacity is 140 MW.

net-loss-eps-q1

Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers