Albania Sells Electricity to Greece
Business, Economy, Invest-Inform, Top News Thursday, January 29th, 2009
Tirana, Jan. 29, 2008 (AE) – An ample rainy winter season has propped state owned Albania Power Corporation, KESH, to export electricity to Greece.
“KESH has negotiated a contract for the sale of electricity to Greek state-owned utility PPC SA,” said Minister of Economy Genc Ruli.
According to Ruli KESH will sell up to 52800 MW, 26.400 MW of which will be a guaranteed sale. The transfer of electricity to Greece started on January 22 and aims to reduce the large amount of debts accumulated by KESH.
The price paid by PPC SA was 61 euro per MWh.
Over the past two years, Albania has been hit by an acute energy crisis, with regular power cuts throughout the country, including the capital Tirana.
International organisations that monitor the Albanian economy, including the IMF and the World Bank, have expressed concern that the energy crisis could have an adverse effect on the country’s robust economic growth, which has been averaging close to 6 percent per annum in recent years.
Almost 99 per cent of Albania’s electrcity production depends on hydro power plans.
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