TIRANA, Jan. 8 (Xinhua) -- Albania will reduce household electricity prices by 1 Albanian lek (0.01 U.S. dollar) to 8.5 lek per kilowatt-hour between Feb. 1 and Dec. 31, Prime Minister Edi Rama announced on Wednesday.
Speaking at a press conference, Rama highlighted that this marks the first electricity price reduction in Albania in 35 years.
According to the new price system set by the Energy Regulatory Authority, from Feb. 1, households consuming up to 700 kilowatt-hours will pay 8.5 lek per kilowatt-hour (excluding VAT), while households exceeding that threshold will pay 9.5 lek per kilowatt-hour.
Rama attributed the price cut to economic growth and the government's efforts to share the benefits of reforms with citizens. "This is a carefully considered measure, thoroughly discussed at all levels," Rama said.
He reiterated Albania's commitment to diversifying energy sources as part of the nation's strategic plan to achieve full energy sovereignty. "In total, we aim to reach the target of 30 percent of total energy production from non-hydro sources," Rama added.
Deputy Prime Minister and Minister of Infrastructure and Energy Belinda Balluku said that Albania is focused on maintaining its leadership in renewable energy production among Balkan countries. She expressed confidence that Albania will become a net energy exporter by 2029. (1 Albanian lek = 0.010 U.S. dollar) ■