- Press Releases
TIRANA (Albania), March 4 (SeeNews) – Albania’s energy ministry said it is inviting bids from local and international entities interested in becoming shareholders in a national power exchange operator.
The bidding deadline is April 27, as the initial capital of the operator will be 250 million leks ($2.2 million/2.0 million euro), the ministry said in a tender notice on Monday.
The operator of the energy exchange will be established by Albania's state-owned power transmission system operator OST and will function as a joint stock company, the ministry added.
According to the tender notice, the Albanian state will hold 35% of the shares of the operator through OST. Transmission operators from other countries may own up to 20.5%, experienced international power exchange operators may have stakes of up to 24.5%, while electricity market participants and financial institutions may hold up to 10% each.
In May 2019, energy minister Belinda Balluku said the government has decided to establish a national power exchange in accordance with European directives as a step forward in advancing the reform of the energy sector.
The Albanian power exchange will operate a day-ahead and intraday trading platforms, Balluku said at the time.
The decision was made possible thanks to the help of the International Finance Cooperation (IFC) and the European Energy Community Secretariat, Balluku noted, adding that the establishment of the power exchange will be an incentive for the liberalisation and deregulation of the electricity market.
Balluku also said that the power exchange aims at trading electricity in the regional market and welcomes the participation as shareholders of transmission system operators of countries with which Albania has a memorandum of understanding and sustainable trade activity in this sector.
Albania produces over 90% of its electricity at hydro power plants, most of it at three plants along the Drin River, in the northern part of the country.
(1 euro = 121.916 leks)