Between January and November of this year, the Albanian government imported €213 million of energy, this despite the government proudly announcing that Albania is a country powered by 100% hydropower.
The total, the highest on record, represents almost half of the state electricity company, OSHEE’s, total revenue which totals some EUR 481 million.
Unless hydropower yields increase, OSHEE will have to spend another €65-70 million to power the country until the end of the year.
Over the last few weeks and amid the European energy crisis, prices have fluctuated between €220-320 per MWh. They reached record levels in late September and early October as a response to the ongoing situation.
The month with the highest expenditure is expected to be November where €65 million has already been spent between November 3 and 23.
Prime Minister Edi Rama previously declared a state of energy emergency that will remain in force until 15 April 2022. Meanwhile, experts predict that the easing of energy prices will not happen for around two years.
Albanian Communities Are Fighting Hydropower and They Are Winning
While Albania produces only hydropower, this only happens during the spring and summer months. The energy cannot be stored, and it is sold to neighboring countries. In the winter months when demand is higher, Albania buys back fossil fuel at a premium, increasing costs for consumers. The government has also been warned that hydropower is not sustainable in the medium or long term, yet it continues allowing the construction of new plants throughout the country.
