The government in Tirana has decided not to apply higher electricity prices for household consumption of over 800 kWh, thanks to lower prices on the stock exchanges, savings made by households and the expected increase in hydropower production.
The Albanian electricity corporation KESH proposed to the Regulatory Agency ERE that the current price of 9.5 lek (0.08 euro) per kWh should remain in force, regardless of consumption.
In the summary prepared by KESH, it is stated that in the period September – October, about 100 million euros less was spent on the import of electricity compared to the earlier forecast.
KESH estimates that this saving will be even greater if the hydrological situation improves, but that in December the price of 42 lek (0.36 euros) per kWh should be maintained for the consumption of over 800 kWh.
In the application submitted to the regulator, KESH states that the cost of importing electricity in October amounted to 50 million euros, instead of 80 million euros, as was forecast in September.
In November, the expected import costs were reduced by 120 million euros to 77 million euros. For December, the value of imports should be halved, from the projected 146 million euros to 76 million euros.
However, even with these figures, the value of imports will probably exceed 550 million euros by the end of the year.
By the end of October, the value of imports reached 400 million euros, while an additional 150 million euros is expected in November and December. The average price in the period November – December should range from 320 to 380 euros per MWh.
KESH has asked the Ministry of Energy and the Ministry of Finance to ensure the continuation of budgetary support for the import of electricity, which has been determined in the amount of 20 billion lek (170 million euros).