Kosovo and Albania closer to the integration of the common energy market

 From the left: Petrit Ahmeti and Ymer Fejzullahu signing the agreement

 Kosovo and Albanian energy regulators signed an agreement in Pristina on Tuesday on mutual recognition of licenses for electricity trading and supply.

The chairmen of the regulatory boards of both countries said that this is a step towards the unification of the energy market.

"Kosovo and Albania with the implementation of this process confirm their readiness for the integration of markets as one of the basic obligations of the energy community", said the Chairman of the Board of the Energy Regulatory Office in Kosovo, Ymer Fejzullahu.

"Rising prices have had an effect on the region's economies as well as the deterioration of the finances of public companies that provide electricity supply to final consumers, in the regulated market which will have effects on the consumer either through tariffs or other financial interventions of governments.", Said the chairman of the Board of the Energy Regulatory Entity, Petrit Ahmeti.

The Minister of Economy in the Government of Kosovo, Artane Rizvanolli said that the integration of the energy market with that of Albania is one of the essential strategic goals of the government for this sector.

"Since our generating capacities come from different sources, the integration of the energy market will allow us to use the resources that each of us has in the most optimal way." As a result, our systems will become better able to cope with fluctuations in electricity demand in our countries," she said.

The Deputy Minister of Infrastructure and Energy in the Government of Albania, Ilir Bejtja, said that by the merger of the energy market will benefit both countries.

"This will make it possible for us to have new investments in the field of renewable energy to increase and diversify energy production on both sides of the border, in this Albanian energy market, and will make it possible for Investments or interests of neighboring countries to be supplied by our energy but also to bring energy from their sources", he said.

USAID Energy Team Leader Louay Samouie said the process of merging the energy market between Kosovo and Albania has the potential to redefine the energy perspective in both countries.

"A dual market is expected to bring economic benefits to both countries and improve energy security for the region by boosting competition, increasing liquidity, and enabling a more efficient use of production resources," he said.

Representatives of the two countries said that Kosovo and Albania should increase investments in renewable energy as both countries depend on one source of energy production. They said merging markets would lower costs and increase energy efficiency, especially at a time when both countries are facing very high energy import prices, due to rising prices in world markets.