The well-known media outlet Reuters has published an article discussing the rise in electricity prices in Europe, with a mention of Kosovo. The article states that Kosovo’s energy transition, aimed at eliminating the use of coal by 2050, will cost the country no less than 4.5 billion euros, a figure that is quite alarming for the nation’s economy.
It is emphasized that Kosovo is striving to keep pace with the rest of Europe by installing numerous renewable energy sources.
In December, Kosovo launched an auction to install 100 MW of wind capacity. However, the World Bank estimates that Kosovo needs 100 times more—at least 10 gigawatts of new capacity, Reuters reports.
In recent days, Kosovo has faced a major electricity supply crisis, with outages lasting for hours in some areas.
One of the countries facing rising electricity prices is Greece. This is constantly creating difficulties for businesses there.
The owner of a restaurant in Athens stated that he will now have to pay a “second rent.”
Christos Kapetanakis said that high electricity bills are reducing profits and forcing him to raise prices.
He mentioned that he pays between 3,000 and 3,800 euros ($3,083–$3,905) per month for electricity, which is 40% more since Russia invaded Ukraine in 2022, causing an energy crisis in Europe.
Electricity used to account for 3% of monthly turnover, and now it is more than 15%, he said.
“The continuous rise in prices, especially in the tourism sector… will make Greece less competitive compared to other Mediterranean countries,” he said from his restaurant in the historic Plaka neighborhood.
His difficult situation has resonated across the continent since the war in Ukraine interrupted Russian gas supplies to Europe, forcing countries like Greece to seek more expensive alternatives.
However, Southeastern Europe has felt the impact much more than Northwestern Europe.
Experts say this will only intensify with the onset of winter and will have a negative impact on economic growth.
Wholesale electricity prices in Greece and Italy in August were 12 times higher than in the Nordic countries and even overshadowed other Southern European countries experiencing hot weather.
