Albania, Electricity imports costs in the first four months of 2022 will reach record 320 million euros

, SEE Energy News

According to Albanian Prime Minister Edi Rama, it is expected that electricity imports costs in the first four months of 2022 will reach record 320 million euros.

PM Rama noted that electricity prices increased significantly since the start of the year. The average price paid in January was 237 euros/ MWh, in February it dropped slightly to 231 euros/ MWh, but it is believed that the March average would reach 500 euros/MWh.

In January, Albania imported 32.7 million euros worth of electricity, while in February that amount rose to 48.35 million euros. It is estimated that the import costs in March would reach 100 million euros. Initial projections for April, with even lower generation from HPPs, reach 134 million euros.

PM Rama said that the total amount for the first four months of 2022 will be covered by the state, adding that there will be no electricity restrictions as long as there is electricity to be bought on the regional markets.

Power utility KESH has shut down most of its hydro units due to low water levels in accumulations. It said that in three reservoirs on the Drin river is has enough water to produce additional 315 GWh of electricity, compared to 1,320 GWh in the same period last year. Similar situation is at privately owned HPPs, which cover about 40 % of total generation.

Therefore, in order to conserve electricity, the Government ordered that the lights in public buildings and public street lighting should be turned off.