Electricity dept games in Montenegro between KAP, EPCG and Government

11. February 2013. / SEE Energy News

Total debt of Aluminum Combine Podgorica KAP to Elektroprivreda Crne Gore EPCG was decreased from 58 million to 43 million Euros under unknown circumstances with mutual debt offset (cession) between Montenegrin Government, KAP and EPCG in July.

Daily newspapers had insight in financial document only that shows this transaction was done on 20 July i.e. electricity debt was decreased for 15 million Euros that day.

Total debt of Aluminum Combine to EPCG, concluded with 31 December, amounts around 44 million Euros and public was not informed about it at all.

Government confirmed that there was some debt offsets to Dnevne Novine, but it was impossible to get any further details. Elektroprivreda Crne Gore didn’t want to confirm or deny this information. Official attitude wasn’t reported also.

Dnevne Novine had insight in document that includes the seal of authorized person from Elektroprivreda that shows KAP owns 44 million Euros to EPCG for spent electricity, not 60 million like the public used to speculate.

Source Serbia Energy SEE Desk/CDM

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