Montenegro: A2A never mentioned leaving the Electric Power Industry

Published on 20. February 2014., SEE Energy News

Italian company A2A, which owns 43.7% of shares of Montenegro Power Company  EPCG Elektroprivreda, had not formally announced the Government that leaves from Montenegro. This was stated frim Ministry of Economy to the question whether the Italian company once indicated the Government departure from the Electric Power Industry.

– The government was never formally notified of the departure of the Italian company A2A. It is the right of every investor to assess what to do with his actions, in accordance with the contract and the law – it was announced from Ministry of Economy.

Topics of discussion

“Vijesti” reported that the Italian A2A is considering whether to leave or stay in power plants, and that this will be the main topic of their discussion with the Government.

The Ministry has confirmed that representatives of the Italian company A2A will come to Montenegro at the end of next week and will discuss with the Montenegrin authorities on a number of topics.

– First of all, it will be focused on construction of the second block of TPP Pljevlja, given that the largest shareholders, the government and A2A need to perform alignment in terms of the sequence of steps and the dynamics of the project. With representatives of the Italian company A2A will lead discussions on the conversion of the tax debt into shares, as provided by the Law on Budget for 2014 – it was announced from the department.

The supply of KAP

The question that will possibly be the subject of discussion, as they say, is a request that Bankruptcy Manager of KAP sent EPCG, concerning the making of long-term contract for electricity supply for KAP.

– Representatives of the Government of Montenegro and the Italian company will talk about the possibilities of EPCG in the construction of the HPPs on Moraca and Komarnica, particularly in view of a commitment to provide information on possible plans of continuing projects. The topic of discussion will be all the aspects related to the institutional framework in Montenegro and the existing regulations for the management of energy companies, as well as the contractual framework arising from the privatization contract, in terms of its implementation – it was released from the Ministry.

Source; Serbia Energy See Desk