Montenegro: Power utility EPCG should remain in majority state ownership despite regional inspirations of Serbian EPS and Croatian HEP

, SEE Energy News

In the Government, there is a political agreement and a clear strategic vision that the majority ownership in the Electric Power Industry EPCG be retained, the Deputy Prime Minister Vujica Lazović said and added that it was good that investors were interested in the national electric power company.

Commenting on the information about the interest of regional companies in the EPCG, he said that it was good that the companies were interested which showed that the EPCG was a stable and successful company.

“These companies from the region were also interested before, and our determination, and I can say that there is a political agreement upon this, and our clear strategic vision is that we should maintain the majority ownership in the EPCG“, Lazović said to the reporters after the press conference of the company DoMEn.

The electric power companies from Croatia and Serbia have shown their interest in taking over the EPCG, the ownership of which is divided between the state, possessing 57.02 percent of shares and the strategic partner, the Italian company A2A possessing 41.75 percent.

Lazović said that the Government’s previous partner, the Italian company A2A, could certainly negotiate with other interested investors, but in the end, it had to ask for the Government’s consent to sell these shares.

“We will take care, because it is important for us to have good and credible partners and someone who will help us raise a good and successful company to the highest possible level of business together“, said Lazović.

According to him, considering the announced energy projects and the fact that the works on installing the submarine cable between Italy and Montenegro have been intensified, we are entering a phase in which the Government’s projection that Montenegro will be a regional “hub” for distributing excess electricity from the region towards the EU, and primarily towards Italy, is coming true.

Asked whether the agreement on constructing the second block of the thermal power plant would be reached by 31th June, he answered that the activities were progressing.

“Today, the Board of Directors of the EPCG should pronounce themselves on the proposal of the expert commission about the first-ranked bidder for works performance“, Lazović specified.

He reminded that what had been incorporated in this interim agreement, lasting for three months, was that the activities of the Montenegrin Government and the EPCG expert teams aimed at the implementation of the project for constructing the second block of the TPP would not be stopped or disturbed.