Sarovic: Adopt Electricity Law and prevent further damage as soon as possible

The Electricity and Gas Law of BiH, submitted by the Ministry of Foreign Trade and Economic Relations of BiH two years ago, needs to be urgently adopted, thus preventing further damage to the energy sector and to the all citizens, it is said at the meeting of Minister of Foreign Trade and Economic Relations, Mirko Sarovic and and the Director of the USAID Mission to BiH, Nancy J. Eslick today.  

 

The Law on Electricity and Gas has been prepared long ago and fully complies with European standards and has been approved by the Energy Community and the European Commission. "We are wasting too much time and suffering too much damage while waiting for the enteritis to agree. The RS Government recently gave a positive opinion, but now we are waiting for the FBiH, which had given a negative opinion in 2017 and since then the whole process has been delayed," said Minister Sarovic.

"Besides the possibility of new sanctions that the Energy Community might impose, this law is also important because the existing Electricity Law of 2002 is outdated and as such poses an obstacle to the development of the energy sector. In addition, we remain without significant funds earmarked for BiH through various projects. My estimation is that Bosnia and Herzegovina is losing dozens million Euros by failing to adopt the legislation in the electricity and gas sector," Minister Sarovic emphasized.

It was agreed at the meeting that the USAID will continue actively providing support in the harmonisation of laws with entity governments in order to put the whole process back on the track, which would improve the competitiveness of that sector and meet the obligations towards the Energy Community.

USAID also announced that the focus of its work in the coming period will be on further developing the natural gas sector, energy efficiency as well as creating an electricity market.

 

Special attention will be paid in the forthcoming period to support investment in the energy sector, through improving and simplifying the issuance of necessary permits, as it was concluded that "the energy sector has all the potentials and opportunities to be the healthiest part of the BiH economy."