Albania: OST profits decline by 15.6%

, SEE Energy News

Albania’s transmission system operator recorded a 15.6% profit decline in January-September 2017.

The company reported a third-quarter financial report, according to which EBT amounts to EUR 10.46 million, compared to EUR 11.95 million in the same period last year.

The financial result is weaker due to a profit decline of almost 20%. OST revenues at the end of nine-month period amounted to EUR 24.65 million and EUR 30.63 million one year before. Sources from the company say that the profit decline is expected due to turbulence in the energy market.

Trading volume is considerably lower this year, given that OSHEE covers part of the losses on the domestic market by purchasing electricity from the concessionaires. Accordingly, the transmission volume has also been reduced.

During the year, OST conducted regular annual, monthly and daily auctions for capacity allocation at Kosovo-Albania border, while SEE CAO (Coordinated Auction Office in South East Europe) conducts auctions for other borders.

OST will have a better financial perspective when it becomes a part of wider network of transmission system operators.

The delay of transmission line Albania-Kosovo and missed opportunity to build an underwater power cable with Italy narrowed the company’s perspective.

Macedonian plans for expansion of transmission network are expected to lead to increased transmission capacities. The new 400 kV interconnection line Elbasan – Manastir has a strategic importance in terms of regional interconnections, creating better conditions for trade exchange and electricity transit in Southeast Europe.