The Albanian government and Czech electricity company CEZ signed the settlement agreement, upon which CEZ company will receive a total of 100 million Euros, that will paid annually until 2018. The signing of the agreement implies that 76% stake in the Distributor System Operator owned until now by CEZ company have returned to the Albanian state.
The dispute between the Albanian government and Czech state owned company ended on June 2014, after two sides reached an agreement. The compensation the Albanian government will pay to CEZ is the same as the initial amount invested by CEZ.
The finalization of this process gives Albania the opportunity for a general reformation of this institution in the administration aspect and other key aspects, aiming to improve the service toward Albanian citizens.
News source: ATA
Photo credits: Flickr – Michael Button & Tirana Observer
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