PM Abazović: Montenegro can’t endure electricity import costs for long

Outgoing Prime Minister of Montenegro Dritan Abazović pointed to the impact of the energy crisis on state finances. “We give EUR 2 million every day for electricity imports. We can’t endure for long like this. It’s not just us – I don’t know which economy could endure this,” he stressed.

Montenegro is currently importing electricity at prices 12 times higher than what citizens pay with their bills, outgoing Prime Minister of Montenegro Dritan Abazović pointed out. He spoke to the media in the Port of Bar on the Adriatic coast, where a shipment of smuggled cigarettes has been seized.

“We give EUR 2 million every day for electricity imports. We can’t endure for long like this. It’s not just us – I don’t know which economy could endure this. European union member countries will give financial support to its members. Just like during the corona, we will be hung out to dry. With all due respect, as they did help us somewhat. But we are not an EU member. We will try some other way to patch things up,” Abazović promised.

Abazović is hoping for an important energy deal with the US EXIM Bank by the end of the month

The prime minister also revealed he would have a meeting with the Export–Import Bank – EXIM Bank of the United States during his visit to the country, adding the matter is “very important” for energy in Montenegro. He expressed hope the deal would be reached by the end of the month.

The US export credit agency is part of a consortium led by energy company UGT Renewables. Abazović spoke to the group’s representatives one day earlier.