Electricity

N. Macedonia to raise power prices by 7.42% due to coronavirus effect on energy companies

Electricity-price-increase-N.-Macedonia-coronavirus

Photo: Pixabay

Published

August 5, 2020

Country

Comments

0

Share

Published:

August 5, 2020

Country:

Comments:

0

Share

Regulated electricity prices for households in North Macedonia will be increased by 7.42% after the Energy Regulatory Commission approved a request sent by energy companies.

According to Marko Bislimoski, president of the commission, the higher price was demanded by state-owned companies Elektrani na Severna Makedonija (ESM), and MEPSO, as well as by Austria-based power supplier EVN.

They asked for new prices due to the problems caused by the coronavirus pandemic, he said.

ESM’s revenues decreased by EUR 17 million, while MEPSO’s income fell EUR 11 million

The revenues from the sale of the electricity of ESM, the largest power producer in the country, have decreased by EUR 17 million while the transmission system operator MEPSO suffered a EUR 11 million drop in revenues.

The energy companies wanted the price to be increased by 22-23%

ESM’s electricity exports have decreased, while auctions of cross-border transmission capacities brought less money for MEPSO, said Bislimoski, adding that consumption by commercial consumers has shrunk.

He said the energy companies wanted the price to be increased by 22-23%.

Lowering VAT could help ease pressure on consumers caused by new price

Bislimoski said he would propose to the new government to decrease the VAT on electricity from 18% to 5%.

Another measure to reduce the pressure on citizens is to increase subsidies to vulnerable electricity consumers.

The situation in North Macedonia is showing the coronavirus’s hardening grip on energy companies in the region.

Due to the problems caused by the pandemic, energy companies in Greece, and Montenegro have decided to take a combined EUR 210 million in loans from the European Bank for Reconstruction and Development.

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

credit-solar-prosumers-ers

Republic of Srpska offers households credit to install solar panels

16 August 2022 - The credit program aims to enable 50,000 households across the Republic of Srpska to install solar panels and become prosumers

power-plant-ecological-reconstruction-shutdown

7-month shutdown of TPP Pljevlja planned for 2024 as part of ecological reconstruction

16 August 2022 - TPP Pljevlja's ecological reconstruction will not require a temporary shutdown in 2023, but a 7-month stoppage is planned for 2024

BIG Shopping Centers buys 70 MW solar power project in North Macedonia

BIG Shopping Centers buys 70 MW solar power project in North Macedonia

16 August 2022 - BIG Shopping Centers took over a 70 MW photovoltaic project in North Macedonia, which it plans to expand to 105 MW

Montenegro utillity EPCG halve minimum price for sale 10 stake

Montenegro’s utillity EPCG to halve minimum price for sale of 10% stake

15 August 2022 - After two failed bidding rounds for a 10%, stake, EPCG said the government can decide to switch to the stock market for the share sale