Citizens of Bosnia's Federation entity, the region which covers one half of the country, are likely to pay less for gas supply as of January 2023.

Bosnian energy company Energoinvest submitted a request to the Government of the Federation entity to approve the new price of natural gas for the first quarter of 2023, which would be 9.6 percent lower than the gas price in the last quarter of 2022.

The company expects the authorities to accept the request on January 12, and the new price would be applied for the period starting from January 1, 2023.

“W would like to point out that we officially received on January 9, 2023 the gas sales price from Gazprom Export, and that according to the gas formula calculation, it was reduced by the amount of 4.98 percent compared to the price from the previous quarter,” the company said.

In addition to that, there was also a significant change in two other parametres that affect the price formation, namely that two operators of the transport system in Republika Srpska (Bosnia's other entity), Gaspromet Pale and Sarajevo Gas Istocno Sarajevo, increased the price of gas transport costs by more than 50 percent for the next period, and there was also a decrease in the value of the dollar in relation to the convertible mark (Bosnian currency), comparing the fourth quarter of 2022 to January 2023, according to Energoinvest.

Bosnia and Herzegovina's power provider Elektroprivreda BiH earlier told N1 that the Regulatory Commission for Energy in the Federation has not received any requests for electricity price change.