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Albania's KESH swings to net loss in 2017

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Albanian power corporation KESH said it turned to an unaudited net loss of 1.08 billion leks ($10.2 million/8.3 million euro) in 2017 from an audited net profit of 1.16 billion leks in 2016, as net electricity production dropped.  The company's operating revenue decreased to 7.3 billion leks from 16.5 billion leks, KESH said in an annual consolidated statement published last week. KESH's net electrity generation decreased to 2.9 million MWh in 2017 from 5.1 million MWh in the previous year. The company's total assets increased to 173.7 billion leks as at end-December 2017, from 172.5 billion leks a year earlier.    Albania produces 98% of its electricity at hydro power plants (HPP). Most of it is generated at three power plants along the Drin River, in the northern part of the country.

Source: Scan TV

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