Montenegro: Revenues from submarine cable to Italy reached 5.8 million euros, SEE Energy News
Montenegrin electricity transmission system operator CGES pointed out that the commissioning of the submarine cable resulted in an increased interest in cross-border transmission capacities at all borders of Montenegro where there are interconnections. CGES recorded revenues in the amount of 5.8 million euros in the first six months of 2020 from the commercial use of submarine electricity cable to Italy.
The income of CGES based on the allocation of cross-border transmission capacities on the border with Italy for the first six months of the year amounts to 2.47 million euros, to which the amount of 1.2 million euros from the annual auction should be added. The total amount of funds that was transferred to the account of CGES on the basis of auctions held so far at all borders for the first six months of this year is 5.8 million euros.
CGES reminded that the commercial use of the cable started on 28 December 2019, when the annual auction for a part of the capacity was conducted, while the allocation of the remaining part of the capacity is carried out at monthly and daily auctions. Total revenues from cross-border transmission capacity allocations on the border with Italy are in line with what was planned for the first half of the year. In addition to direct income at the border with Italy, the commissioning of the submarine cable also affected the increased interest in the allocation of cross-border capacities at other borders.
The electricity interconnection was put into operation in November last year, and in December the Coordinated Auction Office in South East Europe (SEE CAO) has started the auction process for 2020 by offering the capacity of 70 MW. The link’s total capacity is 600 MW, of which Montenegro is entitled to 200 MW.