TIRANA (Albania), April 25 (SeeNews) – Albania's state-owned power distributor OSHEE said on Thursday it has reduced losses on the grid to 26.25% in first quarter of 2019, from 27.71% in the same period of 2018.
OSHEE collected 18.4 billion leks ($165.9 million/148.2 million euro) from electricity bills in January-March, up 4.6% year-on-year, OSHEE said in a press release.
In full year 2018, the company’s losses on the electricity grid decreased to 24%, from 26.4% in 2017.
In January, the company said it plans to reduce energy losses to 16.5% by 2021. It added that it has invested around 33 billion leks in the period 2015-2018 and plans to invest around 8.5 billion leks in 2019 to further improve the quality of power supply.
Albania produces over 90% of its electricity at hydro power plants (HPP). Most of it is generated at three power plants along the Drin River, in the northern part of the country.
(1 euro = 122.842 leks)