News

A2A prolonged contract for another two months

Published

August 4, 2015

Comments

0

Share

Published:

August 4, 2015

Comments:

0

Share

Italian minority stakeholder in national electric power industry EPCG (Elektroprivreda Crne Gore AD Nikšić) agreed with the state government to prolong the contract for another two months, after three similar interim deals from early April. The partnership dates back to 2009, and A2A said negotiations about the future ownership structure are continuing, according to a report by MINA-Business on portal Cdm.me.

The Government of Montenegro, company’s majority owner, does not share the vision about priority investments with is partner, the article said. The Italian side believes it is not the time for the expansion of Pljevlja thermal power plant, worth at least EUR 338 million. A2A failed to find a third partner for the project, according to the news agency’s information. There is also no deal in sight about the investor’s potential exit, as sources say the share is now worth much less than the EUR 430 million it paid for it six years ago.

EPCG told MINA-Business the total households’ debt in electricity bill reached EUR 139 million, but it stopped growing. The company said it plans to start another campaign of offers for prolonging the payment to customers. EPCG said it was the regulatory body RAE that allowed it to include an extra 9% in the electricity bill sum to cover transmission losses.

Croatian state-owned power utility HEP and its Serbian peer EPS are eyeing acquisitions abroad and EPCG is seen as a possible target, media in the region said in April.

 

Related Articles

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets

offshore-wind-installation-vessels

EU faces challenges in delivering on ambitious offshore wind target

28 June 2022 - The ambitious target could prove challenging due to expected shortages of specialized offshore wind installation vessels

NASA-fission-nuclear-moon

NASA sets out to develop nuclear power plant on the Moon

28 June 2022 - Success in building such power systems would pave the way for long-term missions on the Moon and Mars, NASA said

EU energy ministers targets renewables energy efficiency

EU energy ministers aiming at more ambitious renewables, energy efficiency targets

28 June 2022 - The Council of the EU wants to boost the renewables and energy savings targets via the Fit-for-55 package, which depends on upcoming talks