Economy Minister Kreshnik Bekteshi is announcing a 10 percent rise in electricity prices. Bekteshi reportedly made this announcement in an Alsat TV interview that will be aired tomorrow evening.

I can confirm that the ultimate price, under all estimates made by the energy team in the Government, will not be increased by more than 10 percent for the households, Bekteshi said.

Macedonia has a near complete collapse of its domestic electricity production, after years of mismanagement and corruption in its key REK Bitola coal plant, which is now operating at minimum capacity. Low hydro reserves are adding to the dismal situation in this early stage of the heating season, and exceptionally high energy prices in the region are making the necessary imports very expensive.

The Government is also likely to abolish the subsidized rate of electricity that kicks at 14h every day and lasts for two hours – when many households time tasks such as washing or heating water. This means that the cumulative price hike will be well above 10 percent.

Bekteshi told Alsat that the subsidized rate will remain in place overnighht and that the Government will introduce financial aid packages for some vulnerable households.