The drought of the summer season has shaken the electricity market in Albania.
State energy group OSHEE says that in order to supply consumers during the month of August it has bought energy in the market at record prices, with figures reaching up to 149 euros per MW/ h.
The data show that during July and August OSHEE bought energy at much higher average prices than in 2019 and 2020.
In the last two months, the energy company has spent about 13 million euros to buy electric power. OSHEE says this increase comes as a result of the Hungarian stock market which has increased prices for the region by 106%, as well as increased costs of transmission lines.
Field expert Lorenc Gordani lists some reasons: “As a result of European policies of decarbonisation and energy transition to a green economy, we have increased costs in this regard.
“We also have increased costs due to rising prices of raw materials, including natural gas, these combined with the drought that has affected the entire northern hemisphere and the European continent.
“These are reflected in high prices in all European stock exchanges and especially in our region, which is less interconnected.”
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