Since declaring a state of energy crisis, North Macedonia has successfully managed the situation and spent far less compared to other neighboring countries, said Minister of Economy Kreshnik Bekteshi on Wednesday, MIA reports.
“There are no power restrictions in the country, no price shocks for households and small consumers. Compared to Serbia, Kosovo, Albania, Bosnia-Herzegovina or other neighboring countries, who have spent billions of euros to mitigate the crisis, we have allocated less than EUR 120 million,” Minister Bekteshi told reporters during a visit to the Tetovo economic zone. He explained that the declared state of crisis has created favorable circumstance for the crisis management.
“About EUR 50 million were allocated through the latest Government decision, considering that the electricity production price of Power Plants of North Macedonia (ESM) is about EUR 61 per MWh, there are ongoing coal imports, and Negotino thermal plant is operational after a 12-year hiatus. The stock exchange price stands at EUR 240 per MWh, while TE-TO is selling electricity to the state at the price of EUR 190. We could not have done this without declaring a state of energy crisis,” said Bekteshi.
He added that the Government subsidizes state-owned companies as it is done across Europe, saying ESM is fully owned by the state.