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Albanian power distributor OSHEE boosts revenue from electricity sales in H1

Albanian power distributor OSHEE boosts revenue from electricity sales in H1 Author: Oran Viriyincy. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

TIRANA (Albania), August 16 (SeeNews) – Albania's state-owned power distributor OSHEE collected 34.4 billion leks ($313.5 million/281.6 million euro) from electricity sales in January-June, up 5.2% year-on-year, the country’s finance ministry said on Friday.

OSHEE reduced losses on the grid to 23.9% at the end of June, from 26.25% at the end of March, the ministry said in a Facebook post.

In January, the company said it plans to slash 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. In 2018, the company’s losses on the  grid decreased to 24%, from 26.4% in 2017.

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 = 120.101 leks)

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