Albania Electricity Import Prices Slashed

Tirana, Dec. 16, 2008 (AENews) Import prices of electricity fell to 53 Euro per MW, the lowest in more than three years.

A tender to procure 573,000 MW electricity for the first quarter 2009, organized by OSSH, the monopoly of electricity delivery system in Albania, offered lower prices for the first time in three years. Nine companies participated in the tender. Serbian EFT is projected to win, despite the fact that officially, the winner will be announced in the next days.

Import prices for electricity reached their maximum of 95 Euro in 2008, causing serious financial difficulties for state budged, which bailed out repeatedly OSSH from the brink of bankruptcy. On Monday, the government of Albania approved another Euro 26 million subsidizes for electricity sector. Earlier this month, head of OSSH Seit Dollapi said that its company is in immediate need for cash.

OSSH was privatized by CEZ group on September 1, for 102 million Euro, but transfer of management has not yet occurred and contract negotiation related to the companies loans are still ongoing.

Short URL: http://www.albanianeconomy.com/news/?p=1005

Posted by editor on Dec 16 2008. Filed under Economy, Invest-Inform, Tourism. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry