ECONOMY

Power license for UK firm

SARAJEVO (Reuters) – Bosnia’s power regulator issued its first power sale license to a private firm, the UK-based Energy Financing Team (EFT), EFT said. Only three ethnically based power companies, covering Muslim, Croat and Serb areas of the Balkan country, have had licenses to produce, distribute and sell electricity and the decision is part of a plan to liberalize the market. «EFT’s offer will increase the competition in the local power market and produce a series of positive effects for the country’s energy sector and industry,» EFT’s Managing Director James Nye said in a statement. «The prices of electricity will be realistic, efficiency in all segments of the production will increase and losses, which are presently high, will be reduced,» he said.