Dire financial situation prompts KESH to sell 15.300 Mw/H

The Albanian Power Corporation KESH has opened the bid for the sale of energy in the free market for the last two days of November.

According to a press release, the expected sale involves 15,300 Mw/H, while the disbursement period is the timeframe 6:00-23:00.

The purpose of this procedure is to generate revenue, at a time when the company is undergoing a difficult financial situation as a result of the recent drought.

Meanwhile, the condition for companies interested in buying this amount is the highest offered price.

KESH closed the 9-month period of this year with losses, and according to official data, for the period January to September the company reported a loss of ALL 4.2 billion.

This financial situation is quite the opposite of the previous year, where the power generation company registered a positive balance of ALL 1.7 billion.

The lack of rainfall was followed by low power output, and according to the 9-month balance 2.3 million Mw/H were produced, out of 3.6 million Mw/H that was produced for the same period of the previous year.

Meanwhile, for the 9-month period, KESH has secured about ALL 4.8 billion of energy production, while spending about ALL 5 billion for its purchase.

The company also spent the World Bank loan of 22.4 million euros for energy imports.

SCAN

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