Bosnia utility picks 4 bidders for 2010 power surplus

* EFT, Espada, Korlea, GEN-I put in best bids

* Firms offer an average of 47.8 euro per mWh of electricity

* Lower demand and prices to halve EPBiH 2010 sale proceeds

SARAJEVO, Nov 17 (Reuters) - Bosnia's largest power utility picked on Tuesday four firms as best bidders to buy remainder of its 2010 power surplus of 830 gigawatt-hours worth 40 million euro ($59.59 million), its general manager said.

The companies include London-based trading and investment group Energy Financing Team (EFT), Switzerland's Espada, Slovakia's Korlea Invest Holding and Slovenia's GEN-I, Amer Jerlagic of Elektroprivreda BiH (EPBiH) told Reuters.

"The average price offered per one megawatt-hour of electricity was 47.8 euro," Jerlagic said.

EPBiH's revenue increased by nearly 16 percent in the first half of 2009 thanks to 1,600 gWh of power export deals worth 138 million euro agreed in 2008 with Switzerland's Atel and EFT, a specialist in central and south-east European power markets.

"But proceeds from the sale of its 1,616 gWh power surplus in 2010 will almost halve to a total of 77.5 million euro because of lower demand and electricity prices caused by the recession," said Jerlagic.