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The Minister of Finance, Ridvan Bode, said the government will use contingency funds to help the state-own utility, KESH, fund imports of electricity.
“We will import electricity at any cost,” Bode said in a press conference in Tirana on Wednesday. According to Bode, the contingency funds will cover two more months of imports and if they run out before the cold snap ends, the government might revise the 2012 budget.
Albania in December issued 4.5 billion lek (€33 million) in loan guarantees for the power company KESH to import electricity and ensure the security of the supply.
The corporation now needs another 11 billion lek (€78.8 million) to survive the crisis, and these funds can only come from the state budget.
KESH, the country's main energy producer, is facing difficulties in maintaining supplies owing to a combination of dry, cold weather and accumulated debts from the privatized electricity distributor, CEZ Distribution.
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