Electricity

Albania’s power generation quadruples in Q3

Photo: Pixabay

Published

November 23, 2018

Country

Comments

0

Share

Published:

November 23, 2018

Country:

Comments:

0

Share

Albania’s net domestic production of electricity in the third quarter of 2018 almost quadrupled, reaching 1,630 GWh, compared to 418 GWh of electricity generated in Q3 2017, which could boost the country’s economic growth to 4% this year.

According to the Albanian Institute of Statistics (INSTAT), public hydropower plants (HPPs) contributed 80%, while independent HPPs added 20% to the net domestic electricity production.

A temporary push from electricity generation owing to favorable weather conditions is expected to boost growth to 4% this year, and to dampen it somewhat in 2019, to 3.7%, the International Monetary Fund (IMF) said in a statement.

INSTAT said in a press release that the increase of power generation in Q3 2018 decreased gross imports of electricity by 2.9 times and increased gross exports by 69.7 times compared to the same period of the previous year.

Gross import in Q3 2018 was reduced to 470 GWh from 1,345 GWh, while gross export increased from 287 GWh from 4 GWh.

Statistical data shows that in Q3 2018, public HPPs generated 1,304 GWh of electricity, compared to 300 GWh produced in Q3 2017, which is an increase by 4.4 times, while independent HPPs produced 326 GWh of 118 GWh electricity produced in the same period of the previous year, an increase by 2.7 times.

Reforms in electricity sector must carry on – IMF

The IMF advises that planned reforms to make the electricity sector financially sustainable should be implemented in a steadfast manner.

The reforms, guided by the five-year financial recovery plan prepared with the World Bank’s support, foresee the clearance of arrears, a further reduction of distribution losses, and better targeting of investments, the IMF said, adding that completing the reform process also requires timely decisions on the governance structure of public energy sector companies, pricing that ensures cost recovery, and contingencies to deal with droughts.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Monsson-merge-wind-farm-PV-unit-Romania-hybrid-power-plant-storage

Monsson to merge its wind farm, PV unit in Romania into hybrid power plant with storage

20 February 2024 - Monsson Group is developing a hybrid wind-solar-storage project with the largest battery energy storage system in Romania

kozloduy hyndai nuclear unit

Hyundai shortlisted for installing new nuclear units in Kozloduy

20 February 2024 - Bulgaria has called on potential contractors to express interest in the construction of a new nuclear power plant with AP1000 technology

GGF UniCredit Bank Serbia EUR 50 million renewables loan

GGF deepens cooperation with UniCredit Bank Serbia with EUR 50 million renewables loan

20 February 2024 - UniCredit Bank Serbia obtained a EUR 50 million loan from GGF for utility-scale renewables projects, strengthening its ties with the fund

EU approves EUR 6 9 billion state aid for hydrogen infrastructure

EU approves EUR 6.9 billion in state aid for hydrogen infrastructure

19 February 2024 - Strategic hydrogen project IPCEI Hy2Infra, which seven EU member states developed jointly, got a green light from the European Commission