The last energy auction for the October 4-10 period wrapped up this Friday. The average price of a purchased megawatt reached €233 euros or €13 million euros per week, the highest price ever paid for by our country for energy in the free market, whereas only a year ago, the same amount of energy was purchased for around €50 euros.

In the Hungarian stock exchange, the average annual price for energy reached its peak on Monday, going for €192 euros per megawatt/hour. The government sees this increase in the price of energy as well as the price of goods and services as a natural disaster that’s bound to hit our country as well.

According to several experts, this has nothing to do with a global energy crisis but rather the mismanagement of the sector, where Albania sells low and buys high.

Albania ranks third in Europe, after Norway and Iceland in regards to its high amount of electric energy production.

Our country secures around 90% of its electricity through water sources and HEC-s (Hydro-electric Power Plants). Nonetheless, the country isn’t able to cover its local demand. The HEC of Skavica will increase its local production by 20%, but in order to fund its construction, the government will need to look for more funding.

For several years now, the cost of energy for families in Albania has remained unchanged, at a fixed rate of 9.5 ALL per kilowatt/hour, but that is expected to change, following PM Rama’s public appearance this Sunday.

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