Albania, Country postpones electricity price hike by another month

, SEE Energy News

The Albanian Government announced that the proposed increase of electricity price for households who consume more than 800 kWh per month has been postponed by another month, namely until 1 December.

Initially, the price hike was supposed to be introduced as of 1 October, but it was delayed to 1 November. The Government said that this decision reflects the decrease in domestic electricity consumption as well as the decrease of global electricity prices, but also the fact that significant rainfall is forecasted for November.

According to the proposal, the price of electricity for residential consumers whose monthly electricity consumption exceeds 800 kWh will increase to 0.3 euros/kWh from 0.082 euros/kWh, the move made to reduce electricity consumption amid the energy crisis. The increased prices were supposed to be valid until the end of the year.

Albania generates almost all of its electricity from hydropower plants, whose production significantly dropped due to drought this year, which forced the country to import expensive electricity in order to cover the domestic demand.