The Albanian government imported €213 million of energy between January and November of this year despite proudly announcing that Albania is powered by 100% hydropower.
The highest on record, the total represents almost half of the state electricity company, OSHEE’s, total revenue, which totals some €481 million.
Unless hydropower yields increase, OSHEE will have to spend another €65-70 million to power the country until the end of the year.
Over the last few weeks and amid the European energy crisis, prices have fluctuated between €220-320 per MWh. They reached record levels in late September and early October as a response to the ongoing situation.
The month with the highest expenditure is expected to be November, where €65 million has already been spent between November 3 and 23.
Prime Minister Edi Rama previously declared a state of energy emergency that will remain in force until 15 April 2022. Meanwhile, experts predict that the easing of energy prices will not happen for around two years.
(Alice Taylor | Exit.al/en)