Salem Radio Network News Monday, November 29, 2021

Business

North Macedonia provides emergency funding for power imports

SKOPJE, North Macedonia (AP) — North Macedonia’s government said Tuesday that it would provide emergency funding for state energy suppliers to import enough electricity and fuel for production plants to cover the country’s power needs over the next 30 days.

Economy Minister Kreshik Bekteshi said the decision was due to “reduced domestic production capacities…and increased global (electricity) prices.”

He said the government would provide 65 million euros ($75.3 million) the MEPSO electricity company and two other enterprises to pay for electricity, coal and oil imports.

Bekteshi also promised “there will be no restrictive measures” or electricity bill increases for domestic consumers.

MEPSO director Kustrim Ramadani recently warned that North Macedonia faced an energy crisis because it “consumes twice as much (electricity) as it produces.”

The small Balkan country produces about 88% of its electricity from domestic sources, mostly through coal-fired plants. More than 97% of total coal consumption is used to generate electricity.

Authorities have recently opened tenders for the urgent import of 1.2 million tons of coal needed for North Macedonia’s power plants.

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