April 17, 2020
April 17, 2020
Albania’s Ministry of Infrastructure and Energy has decided to suspend tendering for companies and financial institutions interested in becoming shareholders of a joint-stock company which would operate the Albanian power exchange (APEX).
In March, the ministry published an invitation to bid, with an April 27 deadline to submit applications.
The tendering commission suspends the submission of documents from participants and the procedure for the selection of participants in the market operator’s share capital starting from April 8, as a proportional measure for safeguarding the best public interest, according to the ministry’s announcement.
According to the announcement, Albania’s Council of Ministers declared the state of natural disaster due to coronavirus while the candidates must submit the documents that require interaction with state and judicial administrations.
Several participants have recently expressed their official concerns as regards the difficulties and the inability to prepare and submit their bids and related documents, the announcement reads.
OST to hold 35% of the Albanian Power Exchange
According to the ministry’s earlier notice, Albania’s transmission system operator OST will control 35% of the shares of the new company, APEX, which will be financially and legally separate from the OST.
65% of the shares is available for TSOs, power exchange operators, power market participants, and international financial institutions
The remaining shares are available to four categories: other TSOs, power exchange operators with international experience, power market participants, and international financial institutions.
The initial capital of the company will be EUR 2 million
TSOs may acquire up to 20.5% of APEX shares, power exchanges are eligible for up to 24.5%, while energy companies and financial institutions can own a maximum of 10%.
The initial capital of the company will be ALL 250 million (EUR 2 million), according to the announcement on the ministry’s website.
The move is the follow-up of the decision on the establishment of APEX adopted in May last year by the Government of Albania.
Montenegro to get power exchange this year
Serbia is the only contracting party to the Energy Community Treaty that has an operational power exchange – SEEPEX.
After it selected Nord Pool as a partner, Montenegro announced a power exchange established by Berza električne energije (BELEN) would be operational this year.
North Macedonia is also working to establish its own power exchange, while Bosnia and Herzegovina is still far from setting up such a market.
Be the first one to comment on this article.