Albania: Energy ministry announces the opening of power exchange

, SEE Energy News

After series of energy market crisis and issues with security of supply and grid losses Ministry of Energy announced that it plans to establish a power exchange which will enable full market liberalization and create competitive environment for Albania import dependency.

Albanian government has announced the opening of the Power Exchange in an effort to liberalize the electricity supply market and other sources of energy in the country. The decision follows the voting of the new bill on the Sector of Electricity, as Albania is taking concrete steps to liberalize the energy market. Meanwhile, there will also be legal amendments in order to create a new market model.

The opening of the power exchange is expected to regulate a number of deformations in the power supply market in the country, while offering opportunities for real prices in real time, for electric supply or fuel.

Power exchange will be part of the energy market, which aims at increasing transparency in the trade of energy. Minister of Energy, Damian Gjiknuri says that this power exchange will be a mechanism which will enable physical and financial transaction of energy volumes.

The success of this exchange depends on the amount of volume that will be traded in it.

The minister praises the latest incentives that have to do with the liberalization of the energy market in Albania. According to him, steps are being taken with neighboring countries to join markets and to create bigger markets than those of a single country, as it’s the case with Kosovo.

“Several efforts are being made under the supervision of the Energy Community for the creation of joint offices for the allocation of capacities, something that makes these countries connect to each other and be more liquid. Once they’re more liquid, there are more financial guarantees for investments”, minister Gjiknuri says.

The strengthening of interconnection ties between the countries of the region is taking place in the framework of the process initiated by the Berlin Conference for the Balkan countries.

Albania’s transmission line with Montenegro and Greece is now functional. Next year will mark the completion of interconnection line with Kosovo and the start of the construction of the line with FYROM.

Parallel to this, Albania is taking measures to create an energy market and its power exchange. Later on, the aim is to follow the Norwegian example and pass into a regional energy market or exchange. , transmits