Balkan Events

Albania and Kosovo officially merge their energy markets for more efficient energy and new business opportunities

25 march 2024

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Albania and Kosovo have officially merged their energy markets, thus becoming part of a significant energy bloc with economic and geopolitical importance, BTA reported for BalkanEngineer.com. The historic moment for the energy sector of the two countries was marked at a special ceremony in early March this year.

Back in June 2018, the Albanian Transmission System Operator (OST), the Kosovo Electricity System and Market Operator (KOSTT), the Albanian Energy Regulatory Authority (ERE) and the Energy Regulatory Office of Kosovo (ERO) signed a Memorandum of Understanding to unify their energy market, which is now a reality. This step is expected to play an important role for the economic development of both countries and for transparency in the energy sector.

According to Kosovo's Prime Minister Albin Kurti, deepening cross-border cooperation is one of the best methods to tackle the challenges and difficulties in this sector. The common energy market is expected to create new business opportunities, a more efficient energy system and a more favourable environment for attracting foreign investment.

According to KOSTT CEO Evetar Zechiri, the unification of the energy market is the result of the forward-looking vision of the two governments and the strong support of the respective ministries of both countries. He further said that the agreement is the conclusion of a process of reforms in the energy sector that has lasted for more than 20 years.

Photo source: canva.com

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