KESH rallies on good hydrological conditions, posts EUR 49.3 million profit in H1

Albania’s state-owned power utility KESH reported a profit of nearly ALL 6.2 billion (about EUR 49.3 million) in the first half of the year, having produced 3,881 GWh of electricity, more than in the entire 2017, when it generated 2,915 GWh.

KESH had a loss of ALL 52.7 million (around EUR 420,000) in 2017 and a profit of ALL 1.16 billion (some EUR 9.22 million) in 2016.

In the first half of 2018, KESH posted operating revenues of ALL 10.9 billion (approximately EUR 87 million). The company’s electricity exports were worth EUR 57.1 million in January-June, driven by good hydrological conditions, especially in the first four months of the year, while no electricity imports were reported in H1.

In 2017, KESH exported EUR 8.3 million and imported EUR 23.9 million worth of electricity.

Albania is almost completely dependent on hydropower for electricity generation. A cascade of three hydropower stations on the Drin River in northern Albania, with a total installed capacity of 1,350 MW, accounts for more than three-quarters of the country’s total electricity capacity and 90% of its overall electricity production.

TSO OST’s H1 profit down

Albania’s electricity transmission system operator (TSO) OST saw its profit decrease from ALL 768.9 million (around EUR 6.12 million) in H1 2017 to ALL 531.4 million (some EUR 4.23 million) in January-June 2018, according to reports.

The TSO’s revenues from transmission services rose from ALL 2.34 billion (approximately EUR 18.6 million) in H1 2017 to ALL 2.96 billion (some EUR 23.6 million) in H1 2018.

At the same time, the country’s state power distribution network operator (DNO) OSHEE has said it cut electricity network losses to 25.4% in H1 2018, compared to 28.6% in 2017 and 45.3% before the start of reform.

OSHEE registered a bill collection of ALL 33.4 billion (around EUR 265.8 million) in the first half of 2018, an increase of 4.7% in the same period of 2017.