KESH increases energy export
04/06/2013 00:00
PM Rama presents the draft budget with a bonus of 150 euros December reward for pensioners, another bonus in spring 18/11 21:20
The Albanian Power Corporate (KESH) declares that they will start paying their obligations to the small concessionary producers.
Sources from KESH say that the total due payment is 20 million USD and within this year half of them will be paid off.
The KESH financial situation has improved due to the weather conditions. The water level in Fierza has reached the maximal level of 297 meters, which is enabling KESH to export massive amounts of energy.
The corporate has exported 29 million USD so far, and only in the first days of June has sold 4 million USD of energy abroad. Besides exports, the KESH finances are easier now, after turning to normal relations with CEZ and the distribution company has started paying the energy that it receives from KESH.
KESH official sources say that since March, CEZ has paid 100% of the monthly bills, but even with this temporary improvement, the financial situation of KESH is very bad. The company claims that CEZ has to pay them 340 million USD, a debt inherited during the time when CEZ was under private administration.
On the other hand KESH has hundreds of dollars of loans in private and development banks, and they also owe to the tax office and small producers. This is a very complicated debt chain that needs more than just a good year for the energy.
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