BOSNIAN POWER FIRM SELLS 2008 SURPLUS FOR 105,59 MILLION BOSNIAN MARKS

SARAJEVO, Bosnia (27.September,2007) - Bosnia's largest power company Elektroprivreda BiH signed deals worth 105,59 million Bosnian Marks (76.29 million US Dollars) to sell surplus electricity in 2008, despite calls from the regulator to postpone the process.

The Sarajevo-based power firm agreed to sell 725 GWh to Swiss-based power utility Atel at 75 euros per megawatt hour, the Bosnian state radio reported.

The quantity accounts for up to 60 percent of Elektroprivreda's expected surplus next year, officials said.Fourteen firms had applied in response to the company's public tender for the sale of the power surplus in 2008.

The FBIH entity government, the company's majority owner, objected to the sale saying it should await the government's final assessment of energy needs in 2008.On Tuesday, the region's power regulatory body FERK asked Elektroprivreda's management to halt activities on the sale.

But Elektroprivreda General Manager Enver Kreso dismissed the objections as unfounded, pledging to cover all domestic needs with the remaining surplus.

"I only know that this business deal will bring Elektroprivreda BiH to a more favourable financial position in 2008," Kreso told Bosnian state radio.