Bosnia's Serb Republic to raise electricity price for businesses in 2023

The ministry of energy and mining of Bosnia's Serb Republic said it will raise the electricity price for businesses next year due to rising costs of power production and trading.

The decision was taken at a meeting between the energy ministry, the entity's power utility Elektroprivreda Republike Srpske (ERS) and Union of Employers' Associations of the Serb Republic, the ministry said in a statement on Wednesday.

Earlier in November, the Serb Republic's energy regulator proposed a new tariff model for charging electricity consumption of households that pegs the price per kilowatt hour (kWh) to the monthly level of consumption. Under the proposed three-tiered pricing model, all consumers would pay a basic rate for electricity consumption of up to 500 kWh per month and higher rates for consumption between 500 kWh and 1,500 kWh, and above 1,500 kWh.

The regulator also proposed to apply lower tariff rates from April 1 to September 30 and higher tariffs from October 1 to March 31.