KEK finally wins the case in Arbitraz, KEDS and KESCO owe to pay 8.3m euros

The report reportedly owes the two companies to pay KEK around 8.3m euros for interest accumulated by delayed payments.

According to KEK, this decision represents an important legal precedent for the country's energy sector

“KEK is recognised and will compensate for the costs of arbitrage procedure, including the expenses of legal and expert representation, which will be jointly covered by indicted parties (KEDS/KESCO). The arbitrage procedure has been developed in accordance with U regulations. NCIRAL Abration Roules (2010), while the arbitration site was Geneva, Switzerland. The decision is final and applicable. A victory of strategic importance for Kosovo's KEK and energy sector. This decision represents an important legal precedent for the country's energy sector, strengthening the contractual position and institutional credibility of KEK”, the report said.

According to KEK, during the review of the issue, the Tribunal has ascertained “uncontacted results” that KEK has realised its energy supply in full compliance with provisions of the Majority Supply Agreement ( MFS. And that indicted parties ( KEDS and KESCO have not carried out payments within the set deadlines for several periods between 2020,2024.

KEKU has expressed gratitude for the State Lawyer./Periscopi/