Albania finds power in global market

The Albanian power corporation said Tuesday it had reached agreement with three international companies to secure electricity supply for three months. In the meantime, it has instituted power cuts as supply from local hydropower has been reduced because of a lack of rain.

Power was out in the capital for hours Monday, although The Albanian Electro-Energy Corporation, or KESH, did not officially acknowledge that it had imposed cuts.

KESH said it would get 2.32 million kilowatt hours per day from Slovenian Istrabens Gorenje, Greek Public Power Corporation and Swiss EFT that would help it cope with what spokeswoman Klodiana Gjinaj said was a regional energy crisis as two nuclear power units in Bulgaria are taken off line this month.

KESH’s problems have been compounded by high world energy prices and a significant drop in water levels at northern Albanian plants that produce the bulk of its electricity. KESH expects to generate a power surplus in the summer, however.

Business Week