CEZ considering leaving Albania

The news was published by the prestigious Bloomberg, which quotes the declarations of the high rank CEZ officials in Prague.

“The long term vision in the Albanian market is inexistent and CEZ did not find a clear negotiation partner”, one of the Board of Directors, Tomas Plescac.

According to Bloomberg, on the first half of the year, CEZ reported 110 million USD losses in Albania. According to Bloomberg, the cause was the increase of the price with which the company buys energy from the Albanian Power Corporation, without changing the end price, while the loss indicators have deteriorated to the weakest historical point.

The disagreements between CEZ and the Albanian government escalated this summer, according to Bloomberg, when the Tax Office fined CEZ with 30 million EUR.

“The problem with Albania is that if we reach an agreement with one given institution, there’s another institution that comes with different claims. There is no special person or special panel to negotiate with”, the CEZ leader declared.

The Company says that they are reviewing the option to demand the 60 million EUR guarantee of the World Bank.

Bloomberg says that the relations of CEZ with the Albanian government have deteriorated to the point that the Czech company was obliged to replace its leaders in Albania with a group of negotiation experts from a British Company, who must manage the leaving process.

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