Albanian state-owned power utility KESH has spent more than 300 million euros on electricity imports since the beginning of the year.
The Albanian Government estimates that it will need additional 200 million euros by the end of the year to cover domestic demand since electricity generation in hydropower plants was severely reduced this year due to drought.
Electricity prices on the European exchanges skyrocketed due to increased gas prices and KESH was forced to import electricity at extremely high prices.
The Government recently announced energy saving plan, which includes higher electricity prices for residential consumers with consumption higher than 800 kWh per month.
