Albania plans to float state-owned power distributor OSHEE this year

Albanian government plans to float state-owned power electricity distributor OSHEE on the stock exchange by the end of this year, prime minister Edi Rama announced a meeting attended by government and EU officials earlier this week.

Rama said that the government ambition is to get the massive participation of Albanian citizens as shareholders so both sides could benefit, the statement reads.

Artan Gjergji, the head of the Albanian Stock Exchange, believes that floating shares in OSHEE was likely to stimulate activity on the exchange, and for the first time give Albanians a chance to buy shares.

If it happens, it will be the first initial public offering of shares in a major state-owned company in Albania, but there is no information in a government statement how many shares would be sold.

There is no mention either of which part of the company would be listed. OSHEE currently consists of three companies: distribution, retail and commercial operations, which is in line with European Union directives.

Among the wider plans to develop the energy sector, Albania also aims to fully liberalize its electricity segment by 2025. Rama said that the government believes that liberalization will lead to exceptional improvements in all aspects of the power sector activity.

Albania aims to fully liberalize its power sector and open it up to competition by 2025, energy and infrastructure minister Damian Gjiknuri said this week in a statement following presentation of Albania’s national energy strategy 2030.

According to minister, Albania’s energy sector is facing some important challenges in the coming years which include supporting economic development, increasing power supply’s security, improving energy efficiency, increasing the use of renewable energy sources, implementing the project for the gasification of the energy sector after the construction of the Trans-Adriatic Pipeline (TAP). There is also the start of the Ionian-Adriatic Pipeline (IAP) project and exploring the possibility of linking Albania and Kosovo through a gas pipeline.