Pact with CEZ avoided energy collapse

“The energy sector has been withheld due to this long conflict, and would have been withheld for six or seven other years if the case would have gone at the arbitrage court, especially if we would have had a unification of two cases, with the lawsuit of the Albanian side. It would make it difficult for Albania to make the reforms in the energy sector and invest the funds of donators or other financial institutions that were ready to invest in this sector, because no financial institution can invest in a sector that is not legally clear”, Gjiknuri declared.

After the privatization of the energy distribution in 2009, the entire sector plunged into a complicated chain of debts, which reached 1 billion USD when the license of CEZ was revoked.

“Based on the magnitude of this damage, we are obliged to take radical measures, such as this one. It could have been simpler for both parts to go to trial without having to take any responsibility, but a responsible state cannot be indifferent for such vital interests, such as the strategic sector of electric energy”, the Minister of Energy declared.

But for the government there is another reason why the agreement for the 95 million EUR bill was obligatory. Gjiknuri says that the position of Albania in the conflict with CEZ was deteriorated intentionally by the past government, and for this they ask the Prosecution to investigate.

“The respective institutions should do their jobs. Unfortunately, the competent institutions have started the investigations for this case but then they were suspended. The facts are there. Certainly, there are new facts showing how the Regulation Entity has created problems by order of the Prime Minister, problems that we will make public in order to help the investigations”, Gjiknuri declared.

But what will be the fate of the distribution company, now that the conflict seems to have been resolved?

“The company will be temporary public, but the perspective is to make it private. This should be seen. We need to be very mature. We should not repeat the rushed and failed move of the former government for their political reasons”, Gjiknuri declared.

With the solution of the conflict, the government said they have prepared 200 million USD to invest in the energy sector, 150 million of which are funded by the World Bank.

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