Contracts signed for 14.8 mln euros of electricity exports in June

TIRANA, June 1 – The Albanian Power Corporation, KESH, announced on Monday it has contracted eight companies to export 14.8 million euros of electricity during June. The winners were announced after an international tender on sale of electricity.
KESH said it will export 363,600 MWh at an average price of 43 euros per MWh, up from an average of 30 to 40 euros in the first months of the year.
The increase in revenues will serve the state-owned corporation to pay off around half the debt it owes to government for electricity imports in 2007 and 2008.
The Energy Ministry hopes it will collect 100 million euros from electricity exports this year, up from 60 million euros in 2009, considering the favourable situation in the country’s hydropower plants.
KESH exported roughly 40 million euros worth of electricity in the first quarter of 2010. The additional exports in April and May brought 34 million euros into KESH’s coffers.
The Albania power Corporation opened gates to discharge water from the hydropower plants of Drin cascade three times this year because of heavy rains causing flooding in the northern villages.
KESH officials say the lakes of the Drin Cascade are at almost maximum quota.