Albania To Settle 2.0 Bln Leks (16 Mln Euro) in Unpaid Bills to Power Distributor Ahead of Its Sale

In October, Albania's government approved in principle the sale of a 76% stake in OSSH to Czech power utility CEZ after it bid 120 million euro ($151 million).

Albania’s power utility KESH collected 85.68% from all outstanding electricity bills through October. State institutions paid 91.08% of their electricity bills but still face 2.0 billion leks in outstanding payments, Agon said.

The 10-month collection rate is lower than the initial target of 93.6%, Agon said.

Under the deal with CEZ, the buyer will invest 425 million euro in OSSH, and pay the utility's outstanding debt of 15.6 billion leks.

(1 euro = 122.2152 Albanian leks)