Prices slashed on imported electricity

TIRANA, Dec. 16 – The government now spends 28 million Euros to subsidize power prices in Albania.
This subsidy is seen as another effort by the government to keep regular supplies of electricity flowing to Albanian consumers.
Meanwhile, Albania’s import prices of electricity fell to 53 Euro per MW, the lowest in more than three years.
A tender to purchase 573,000 MW electricity for the first quarter 2009, offered by the power distributor corporation OSSH, resulted in lower prices for the first time in three years. Nine companies participated in the tender.
Import prices for electricity reached their maximum of 95 Euro in 2008, causing serious financial difficulties for state budgets, which repeatedly bailed out OSSH from possible bankruptcy.
OSSH was privatized by CEZ group on September 1 for 102 million Euro, but transfer of management has not yet occurred and contract negotiations related to the company’s loans are still ongoing.