Energy Crisis

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

PM Abazovic Montenegro endure electricity import costs long

Photo: Dritan Abazović / Facebook

Published

September 8, 2022

Country

Comments

0

Share

Published:

September 8, 2022

Country:

Comments:

0

Share

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.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

BiH digitalization speed up investments

BiH turns to digitalization to speed up investments

01 October 2022 - A new application provides a customized guide for specific projects, with a list of permits, consents and other necessary documentation

Wind turbine Siemens Gamesa lay off 10 workforce

Wind turbine giant Siemens Gamesa to lay off 10% of workforce

30 September 2022 - Delivery delays and the rise in material costs forced Siemens Gamesa to cut 2,900 jobs as part of its restructuring plan

Rama Biggest issue not electricity price availability

Rama: Biggest issue will not be electricity price but its availability

30 September 2022 - Albania's Prime Minister Edi Rama called on citizens again to save electricity, saying it is not just about the financial cost

Gas interconnector Greece Bulgaria commercial operation October 1

Gas interconnector Greece-Bulgaria to start commercial operation on October 1

29 September 2022 - Greece and Bulgaria issued operating permits for the interconnector between the two countries' gas networks