Albania, The value of electricity imports this year is over 300 million euros

, SEE Energy News

The Albanian electricity corporation KESH spent 1.5 million euros to import electricity for September 9. A total of 3,084 MWh was purchased at an average price of EUR 476.77 per MWh. This amount covers 15 percent of the average daily consumption.

The total value of the Albanian company’s imports since the beginning of the year has exceeded 300 million euros. The government in Tirana calculates that by the end of the year, despite price fluctuations on the stock market, around 200 million euros will be needed to cover the demand, given that the production in the cascade hydroelectric power plants on the Drina is limited due to the drought.

On the Hungarian stock exchange HUPX, which is the benchmark for Albania, electricity prices fell significantly compared to the week before last, when they broke the record with a price of 1,047 euros for one MWh.

The drop in demand combined with the drop in oil prices influenced the gradual lowering of spot prices to the level of 350 to 500 euros per MWh.

Thus, the price for the base load for delivery on September 8 was 481 euros per MWh, while in peak hours it reached 499 euros per MWh.

The hydrological situation at the HPP on the Drina, which is the largest producer of electricity in Albania, remains unclear since the data was last updated on August 28. Then the energy reserve dropped to only 541 GWh.

The energy situation in the country is still a hot topic after the government announced a plan that, in addition to savings, foresees higher prices for households that consume more than 800 kWh per month.