200 million USD for energy
27/08/2016 15:15
Mayor Veliaj inaugurates new kindergarten that welcomes over 100 children in central Tirana 25/11 16:10
The three public companies of the energy system are expected to invest
this year 24.5 billion ALL, or more than 200 million USD. The Energy
Regulation Entity passed the investment plans of KESH, OSHEE and OST for
the second semester of the year, which are higher than one year ago.
The lion share goes to the OSHEE (Energy Distribution Operator). The company will invest a total of 11.5 billion ALL. The OST (Transmission Operator) will invest 7.6 billion ALL. KESH (Energy Management Corporation) will invest 5.4 billion ALL.
The energy sector faced a deep financial crisis for several years. The indicators this year have improved significantly.
The balance sent to the Business Registration Office, all three companies have realized a 6.5 billion ALL profit. The most positive results come from the OSHEE. Their profit reached 4.7 billion ALL. The company even improved during the first semester. Official data show that the network losses have dropped to 28.5%, while money collection has increased.
The improvement of the OSHE indicators has influenced positively the entire system, making to other companies, KESH and OST, have their own profits.
A joint plan between the World Bank and the Albanian government foresees that the energy system will start cover its own expenses by 2019, without needing anymore government funds.
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