EUR 32 million loan to Montenegro was approved by London based European Bank for Reconstruction and Development (EBRD) to finalize the introduction of smart metering system in the country.
The loan will be used by Montenegrin electricity distribution company Crnogorski elektrodistributivni system (CEDIS) for the purchase of 60,000 smart electricity meters. Once the smart metering installation programme is finished it is expected that 80 percent of population of Montenegro will be covered by this system. The modernisation and smart meter installation programme is expected to result in over 86,000 tonnes of CO2 savings per year.
The company will also modernise or replace its low-voltage infrastructure and install a modern energy management system (EMS). This will strengthen the distribution network, cut losses and allow for the integration of renewable energy generators, according to the information provided by the lender on this occasion.
The smart meters allow utilities to collect real-time data on customers’ consumption and manage networks remotely, eliminating the need to send out costly technicians and visits by meter readers.
The overall project cost is estimated at EUR 39 million, whereas EUR 7 million will be provided by Montenegrin electricity distribution system operator CEDIS, says Reuters.