Albania, FTL bought 38 million euros worth of electricity in the first half of November

, SEE Energy News

Albanian free market electricity supplier FTL, a subsidiary of electricity distribution system operator OSHEE, bought electricity for the delivery between 3 and 16 November worth 38 million euros, with prices ranging from 240 to 280 euros/ MWh.

Currently, the supplier buys electricity from local companies on the free market, while domestic production remains low. The hydrological situation in the country did not improve with the autumn months, as expected.

Three state-owned energy companies – OSHEE, KESH and OST are operating in an emergency situation, which will last until 15 April 2022, according to the Government’s decision from October.

In October alone, FTL spent some 65 million euros on electricity purchases in order to meet the domestic demand. This is the higher ever monthly amount spent on electricity purchases.

Due to declared state of emergency in the energy sector, the Albanian Government has set aside 100 million euros for OSHEE to purchase electricity in 2021, with another 100 million that will be available for the next year. The distribution company estimates that it will record significant financial loss at the end of this year, as a result of significant electricity purchases.