The EU gives 72 million euros to Albania for energy, this is what the package provides

The European Union donated 72 million euros in favor of the Albanian Government, part of a support package of 80 million euros, to cope with the socio-economic consequences of the energy crisis. This was announced on Thursday by the EU Delegation in Tirana. The fund in favor of Albania was announced last October by the president of the European Commission, Ursula von der Leyen, during her visit to the Albanian capital.

"This package supports the Government in implementing measures to protect consumers in Albania from the impact of the energy crisis," the EU Delegation declared in an official announcement, explaining that "these government measures include several interventions: subsidizing energy prices (preferably below a certain monthly consumption threshold) for households and small and medium-sized enterprises in Albania to provide similar rates as before the energy crisis of 2021". According to estimates, support from the EU is expected to cover about 1 million families and 168,000 small and medium enterprises. Despite the strong increase in electricity prices last year, the Albanian government decided to bear the increased costs itself, not changing the existing tariffs for households and small businesses.

The EU package also provides financial assistance to 11,200 people in need, as well as supporting the government's efforts to diversify energy sources through new investments in wind and solar power generation, new energy legislation and renewable in accordance with EU standards and support schemes for consumers to install solar water heaters.

"Last year, Russian aggression against Ukraine caused huge increases in energy prices around the world. This EU support package will directly benefit all household electricity users and small and medium-sized enterprises in Albania, thus helping the Albanian government to keep electricity prices stable and to diversify sources. of energy. This is a concrete example that shows how the EU supports Albania and the Albanians", said the EU ambassador to Albania, Christiane Hohmann.

These funds are grants that Albania will not have to return. In 2024, another 8 million euros will be transferred in anticipation of the progress that will be achieved with the implementation of the relevant measures by the government.

EU aid to the energy sector in Albania also includes the revitalization of the Fierza hydropower plant, the installation of a floating solar grid in Vaun e Dejës, as well as the support of measures for energy efficiency in business through the IPARD program./VOA