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OSHEE improves financial performance, investments 40 billion lek
2025-10-05 20:35:25 / EKONOMI&SOCIALE
The Electricity Distribution Operator (OSHEE) has significantly improved its financial performance during 2024, recording a net profit of 7.3 billion lek, or 2% more compared to the previous year.
The company's administrator, Enea Karakaçi, stated in a media interview that the positive results were achieved thanks to financial discipline, reducing losses below 18% and increasing collections by over 100%.
"The improvement in financial performance is the result of measures taken by management in collaboration with the government to mitigate the impact of free market prices," he said.
According to Karakaç, the decision to reduce the price of energy for household consumers by 10%, which entered into force on February 1, 2025, came after financial analyses of the public energy sector.
"The effect of the price reduction is expected to be around 2.58 billion lek, directly benefiting Albanian families," he stressed.
The company is currently implementing an investment plan worth 40 billion lek for the construction and reconstruction of the electricity network throughout the country.
Important projects are being implemented in tourist areas such as Ksamil, Himara, Velipojë and Valbona, while the construction of new substations in Tirana and Kamëz is expected with the support of the EBRD and KfW.
"After a period of almost 3 years, due to the earthquake, the pandemic and the global energy crisis, the OSHEE group launched at the end of 2023 and continuing into 2024, an aggressive plan of measures, in terms of investments. Based on a well-coordinated strategy, dozens of projects worth 40 billion lek were approved, which aimed at the construction and reconstruction of over 20 substations, the laying of the 20 kV cable network, new cabins with ABC lines, positioned in every corner of the country," he stated.
Regarding the energy market liberalization reform, Karakaçi announced that after the entry of 20 kV customers into the free market at the beginning of 2024, the inclusion of customers connected to 10 kV is expected in 2025, while the following year it will continue with those connected to 6 kV.
The administrator added that OSHEE is investing in new technological systems such as SCADA and smart meters, to automate processes and improve customer service.
"Despite the decrease in revenue due to the tariff reduction, 2025 is expected to be a stable year for the group's financial performance," Karakaçi stated.
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