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European Journal of Sustainable Development

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##plugins.schemas.marc.fields.title.name## Transaction Costs in Constructing Small and Medium Hydro Power Plants in Albania
 
##plugins.schemas.marc.fields.creator.name## Miti, Florian
Dede, Grigor
 
##plugins.schemas.marc.fields.description.name## Identifying the transaction costs helps knowing which are the real costs of starting a new business, finding bottlenecks, can serve to reduce inefficiencies and encourage more effective reforms. In  this article we analyze the impact of transaction costs in interactions between firms and public authority, when firms participate in the bidding procedure for constructing new hydropower plants until the stage of producing electricity. In the first years, after granting the concession right, firms face many difficulties due to a complex normative regulation, contractual conditions and  bureaucracy. Although in the majority of the cases, winning firms are provided by the public authority with the  concessionary permit within the legal deadlines, they fail to start producing electricity within the declared  timetable. Even though direct transaction costs computed by measuring the actual costs that firms or individuals face during these procedures may be relatively low, fairly 1-2 % of the total cost of investment, opportunity costs considering the potential loss in the revenues due to delays in producing and selling electricity, in some cases,  can be equal to the total cost of constructing the implant. Keywords: transaction costs, concessions, hydro power constructing, regulation.
 
##plugins.schemas.marc.fields.publisher.name## European Center of Sustainable Development
 
##plugins.schemas.marc.fields.contributor.name##
 
##plugins.schemas.marc.fields.date.name## 2015-06-02
 
##plugins.schemas.marc.fields.type.name## info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
##plugins.schemas.marc.fields.format.name## application/pdf
 
##plugins.schemas.marc.fields.identifier.name## http://www.ecsdev.org/ojs/index.php/ejsd/article/view/266
10.14207/ejsd.2015.v4n2p323
 
##plugins.schemas.marc.fields.source.name## European Journal of Sustainable Development; Vol 4, No 2; 323-328
2239-6101
2239-5938
 
##plugins.schemas.marc.fields.language.name## eng
 
##plugins.schemas.marc.fields.relation.name## http://www.ecsdev.org/ojs/index.php/ejsd/article/view/266/257
 
##plugins.schemas.marc.fields.rights.name## This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.Authors of articles published in the European Journal of Sustainable Development retain copyright on their articles. Authors are therefore free to disseminate and re-publish their articles, subject to any requirements of third-party copyright owners and subject to the original publication being fully cited.  The ability to copy, download, forward or otherwise distribute any materials is always subject to any copyright notices displayed. Copyright notices must be displayed prominently and may not be obliterated, deleted or hidden, totally or partially.