The Albanian electricity corporation, KESH, sold significant amounts of electricity on the free market, after the improvement of the hydrological situation in the country, securing an income of 4.7 million euros.
In total, KESH earned 14 million euros from the sales tenders realized during the last few weeks. It is, however, a drop in the ocean if you consider the cost of imports this year, which exceeded 430 million euros.
The prices at which KESH sold electricity in December followed the movements on the Hungarian stock exchange HUPX. As of December 10, as a result of a noticeable drop in temperatures in Europe, prices on the stock exchanges again reached levels of over 550 euros in peak hours. The price for the base load was around 437 euros per MWh.
In the previous tenders, KESH generated an income of 8.85 million euros. The average selling price for the period from December 10 to 13 was 254.7 euros per MWh, and over 11,000 MWh were sold in that tender.
A more favorable hydrological situation gave the first positive effects. In addition to improving the financial situation in KESH, this also refers to the abolition of the block tariff of 800 kWh for households. The Energy Regulatory Agency should formally approve the decision.
The block tariff provided for a higher price of electricity for households that consume more than 800 kWh per month. As a measure to encourage savings, it was formally in effect for three months, from October to December, but it was never implemented.
Since the beginning of this year, KESH has been in charge of providing electricity to cover consumption in the country, in emergency situations. This obligation will be valid until the middle of 2023.
Source: monitor.al
