BIRN: Albania spent 500 million euros on energy imports last year

Albania imported 1.4 billion kWh of electricity during 2022 at a total cost of 503 million euros, while the country's exports in April and December were 194 million kWh with revenues of 38 million euros, as the export price was significantly lower than the price of import.

The detailed data published by the Energy Regulatory Authority show that KESH imported throughout the year with the exception of December, while it exported a small amount of energy in April as well as in November and December.

The average purchase price of energy was 305 euros per MWh, the highest price ever recorded in history, while the selling price of energy in conditions when rainfall was abundant was 174 euros per MWh.

KESH sold a quantity of energy with a total value of 2 million euros in April last year, with a selling price of 143 euros per MWh, while in the same month, it bought 10 million euros of energy at a price of 209 euros per MWh.

In November, KESH imported energy at the price of 210 euros per MWh, while it exported it for 196 euros per MWh.

The highest import price was recorded in the months of August and September when over 480 euros per MWh was paid. The selling price of energy to household consumers is less than 10 euro cents per kWh, or 100 euros per MWh.

EFT AG was Albania's main energy supply company. Purchases from this company were over 100 million euros. Other major companies were AlbEsp, Ayen Energy Trading, GSA and TID.

Electricity prices were extremely high in Europe last year as a result of the crisis caused by Russia's war in Ukraine.

Albania had to import less than 11% of its total consumption at a very high cost. Electricity consumption in Albania decreased last year compared to the previous year, but not enough to reduce the need for imports. Consumption decreased by 5.4%, of which all the reductions were caused by the business supplying the open market at real prices.

The huge cost of imported energy was covered by taxpayers.

Electricity losses in the distribution network were 1.57 billion kWh, a figure slightly higher than the total energy imported. Network losses are caused by theft as well as by improper maintenance of system equipment. Losses have been minimally reduced over the last four years, despite the fact that the sale price, with the exception of 2022, has included the necessary network maintenance costs, which should, in theory, have reduced losses. Reporter.al