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Energy prices in October almost tripled in the free market.
The Energy Regulatory Entity approved a price of about 33 ALL per kwh on behalf of the Provider of Last Chance (part of OSHEE Group), a tariff which serves to calculate the bills for those who are supplied by the public company at market prices as they have not yet a private supplier.
The October tariff is a new record in terms of energy prices in the country when public companies sounded the alarm that it was no longer a matter of rising prices but a lack of energy in the market. Since the start of the process of liberalization of the energy market in February 2018, this is the highest price with which energy was provided, while earlier the month with the highest price was January 2019 with a tariff of 18.73 ALL / kwh.
While even then the reason for this price became the bad hydric situation the panorama was completely different at the regional and global level as we were not dealing with a general energy crisis as we are dealing now. The global energy crisis was created by a number of factors ranging from rising consumption as part of the post-pandemic recovery, declining coal production and the decommissioning of some power plants as part of policies in some countries, the introduction of greener certificates higher energy costs, lower wind energy production in 50 years, higher gas prices. In Albania, bad water years have happened before but stock prices have never been at current levels. So by April 15, 2022 the country is in a power supply emergency and the generation and distribution company are reconciling the need for energy and meeting consumption on a daily basis.
From 1 January 7358 businesses will buy more expensive
Businesses in recent days have been alarmed after the announcement they received from the authorities that from January 1, 2022 they will have to provide energy alone. It is about the group that are connected mainly in 20 kilovolts that so far have received this energy from OSHEE at a price of 11 lek / kwh and 12.65 lek / kwh at peak. The current October price at which the FMF (which will supply those businesses that do not find private suppliers for two years) is almost three times higher than the price at which they pay energy today in the regulated market. The increase of costs in such a way is expected to put businesses in a surviving position in some cases in conditions when other segments of their activity have become more expensive. The final burden is expected to fall on the consumer who pays the costs at the final price. The number of businesses expected to enter the free market from January 2022 is 7358 while the Energy Regulatory Authority announced that there are at least 26 licensed suppliers in the market with whom contracts can be concluded.
The two-week rainfall in the country created a kind of hydric improvement and concentrated production and consumption in the country but OSHEE will have to continue imports even further to meet the needs.
Meanwhile, the prices on the Hungarian Stock Exchange are still at “crazy” levels. For the 22nd a 1MW of energy was sold on average with 420 euros while at the peak 475 euros while for the 21st the price at the peak was 515 euros / MWh./Monitor
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