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Report, 60 million euros in mutual obligations between public energy companies
2025-03-24 14:31:11 / EKONOMI&SOCIALE
The outstanding debts between energy companies towards each other have an accumulated value of about 6 billion lek or about 60 million euros.
A recent report by the Supreme State Audit Office, which focused specifically on OSHEE Group, the Transmission System Operator and the Albanian Power Corporation, estimates that in the process of verifying the presentation and recording of mutual obligations in the financial statements of the companies OSHEE, KESH and OST, it was found that the Supervisory Councils and the Assembly of Partners of the companies OSHEE and KESH did not approve the financial statements within the legal deadlines, which makes the process of consolidating obligations difficult.
"In the relations between the parties, the legal representatives of the companies have not carried out verifications and assessments of mutual obligations after 2021, to assess the situation and take corrective measures. OSHEE and KESH, for the period until 30.11.2024, have a difference of 2.2 billion lek. This issue is related to the obligations arising from the transitional relations of the separation of the companies in the year and various penalties between the parties," the audit states.
Meanwhile, according to the OST report with KESH, for the period until 30.11.2024, they have a difference of 1.5 billion lek. This difference consists of invoices not accepted by the OST, which are penalties for non-payment on time, electricity provided for imbalances, reserve activation and other services.
Even in the relationship between OSHEE and OST, for the period until 30.11.2024, the SAI has found that there is a difference in the amount of 2.3 billion lek, which consists of invoices from the OST to OSHEE in implementation of ERE decision No. 110, dated 14.05.2018, an amount appealed in court.
The auditors assess that the disagreements that the energy system companies have among themselves regarding the respective debtor accounts hinder the process of consolidating the carried liabilities and their compensation/extinguishment.
"The consolidation process of the transferred liabilities has been managed through several long-term restructuring agreements between the companies. The audit group found that OSSHE Group sh.a., which has the burden of payments to KESH sh.a. and OST sh.a., has not made a payment plan (schedule) for the division of the liabilities in installments that the subsidiary companies OSSH sh.a., FSHU sh.a. and FTL sh.a. will have to pay, enabling the repayment of the liabilities to KESH sh.a. and OST sh.a.
The lack of an agreement for the division of the respective liability that each company has to KESH sh.a. and OST sh.a. has also led to the non-payment of these liabilities in full and on time, not adhering to the agreement that OSHEE Group has with KESH sh.a. and OST sh.a.... Regarding the agreements that OSHEE Group has to KESH sh.a. and OST sh.a. "The payments were made only by the company OSSH sh.a. but even those payments that were made are incomplete and inconsistent with the obligation that OSSH sh.a. has," the report assesses. /Monitor
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