Montenegro, For three energy companies, less revenue than required

, SEE Energy News

Energy companies requested a total of 435.3 million euros for work in the next three years, of which the Regulatory Agency for Energy and Regulated Utilities (REGAGEN) estimated 380.88 million euros.

REGAGEN told the Mina-business agency that the regulated companies – the Montenegrin Electric Transmission System (CGES), the Montenegrin Electric Distribution System (CEDIS) and the Montenegrin Electricity Market Operator (COTEE) required a total of 435.3 million euros for their work over the next three years.

“REGAGEN assessed 380.88 million euros as established, which is 54.43 million, or 12.5 percent less than required”, specified the representatives of the regulator.

Those companies submitted to the regulator, within the deadline, ie on August 31, requests for determining income for the next year, 2024 and 2025, which REGAGEN analyzed and published on its website in the form of a report.

The price of electricity in the coming year is affected by a series of decisions, and for almost half of the bill for consumed electricity, the decision is made independently by Elektroprivreda, in the role of supplier. The amount of items on the account related to the use of the system and the work of the electricity market operator is determined by REGAGEN on the basis of requests submitted by regulated companies.

REGAGEN said that CGES required a regulatory allowed income that is transposed into tariffs for the next year of 26.65 million euros, for 2024 of 33.85 million, and for 2025 of 35.6 million euros.

On average, the CGES requested about six percent more income with the request compared to the approved for this year.

“REGAGEN, on the basis of the documentation submitted by CGES at this stage of the procedure, assessed as established the regulatory allowed income that is transposed into the tariffs for the next year of 23.84 million euros, which is 2.8 million, i.e. 10.54 percent less than the required amount”, said representatives of the regulator.

For 2024, REGAGEN estimated the established income of 23.84 million euros, which is ten million, or 29.56 percent less than the required amount.

For the year 2025, the regulator assessed the established income of 23.84 million euros, which is 11.77 million or 33.04 percent less than the required amount.

CEDIS requested the regulatory allowed income that is transposed into tariffs for the next year of 107.07 million euros, for 2024 of 111.82 million, and for 2025 of 117.12 million euros.

As they stated from REGAGEN, on average, CEDIS requested about 36 percent more income with the request compared to the income approved for this year.

REGAGEN, on the basis of the documentation provided by CEDIS at this stage of the procedure, assessed as established the regulatory allowed income that is transposed into the tariffs for the next year of 104.25 million euros, which is 2.82 million, i.e. 2.64 percent less than the required amount.

The regulator assessed the income of 102.25 million euros as established for 2024, which is 9.57 million or 8.56 percent less than the required amount.

For the year 2025, the established income is estimated at 100.3 million euros, which is 16.83 million or 14.37 percent less than the required amount.

COTEE, as they specified, required the regulatory allowed income, which is transposed into fees for the next year of 1.07 million euros, and for 2024 and 2025 of 1.06 million euros each.

On average, COTEE asked for about 50 percent more income with the request compared to the income approved for this year.

REGAGEN, based on the documentation submitted by COTEE at this stage of the procedure, assessed as established the regulatory allowed income that is transposed into fees for the following year of 865.99 thousand euros, which is 202.95 thousand, i.e. 18.99 percent less than the required amount.

For the year 2024, the regulator assessed the established income of 846.83 thousand euros, which is 213.66 thousand, or 20.15 percent less than the required amount.

For the year 2025, the established income was estimated at 845.26 thousand euros, which is 215.69 thousand, or 20.33 percent less than the required amount.

REGAGEN explained that the reports on the analysis of documentation at the request of CGES, CEDIS and COTEE are the subject of public discussion until Tuesday.

After that, all received opinions, objections and comments will be considered and taken into account when making decisions on determining the regulatory allowed income of those companies.

Decisions are expected to be made at the end of November, and until they are made, regulated entities have the right to supplement their requests. Due to the stated reason, it is not yet possible to talk about the prices that will be the result of these procedures”, REGAGEN concluded, Pobjeda writes.