Electric Power import

20/10/2010 00:00

A few days before the 50 million EUR guarantee, the government might be
obliged to give other money to secure the power supply in the country.

The Albanian Power Corporation (KESH) paid 18 million EUR of due debts to the suppliers, while the import bill of 14 million EUR is buying energy to compensate the unrealized import of CEZ.

KESH is currently buying 11 million kwh or 700.000 EUR of energy each day. Confidential sources from the corporation say for Top Channel that the remaining payment for the guarantee is enough only to secure energy until the end of November.

With the hydro reserves reaching the critical point, the government might be obliged to intervene again for guaranteeing the country’s power supply in December by giving other money. If this happens, the public debt of the country will cross the legal limit of 60% and the government itself seems surrendered.

But this is only the official limit. The debt might have crossed the 60% limit, if you take in account the money that the government has not paid to private companies for the public works or for reimbursing the VAT.

The shrinking of the economic growth in minimal levels has placed the public finances of the country in an unstable path, and the only hope of the government is to privatize the Albpetrol Company with success.

Top Channel