Electricity

Submarine cable helps triple CGES’ electricity transit revenues

CGES income cable electricity transit increased threefold

Photo: CGES

Published

January 5, 2021

Country

Comments

0

Share

Published:

January 5, 2021

Country:

Comments:

0

Share

The submarine power cable  between Italy and Montenegro has helped the Balkan country increase revenues from electricity transit by threefold.

Montenegrin transmissions system operator Crnogorski Elektroprenosni Sistem (CGES) pulled in EUR 11.6 million in electricity transit revenues in 2020 thanks to the effects of the commercial use of the submarine power link between Montenegro and Italy, the daily Pobjeda has reported.

According to the company’s business reports, the revenues from the allocation of cross-border capacities the year before stood at EUR 3.7 million, and the cable was officially put into operation at the end of December, 2019.

Revenues from the allocation of cross-border capacities on all borders of Montenegro in 2020 were 46% above target, CGES said.

The company has generated EUR 4.6 million in revenue from the allocation of the cable since it was put in operation.

Revenues from the allocation of transmission capacities at the borders with Albania, BiH , and Serbia increased from EUR 3.7 to EUR 7 million

According to the CGES, the start of the operation of cable has also increased interest in the allocation of cross-border transmission capacity at Montenegro’s other borders boosting revenues at the borders with Albania, Bosnia and Herzegovina, and Serbia to EUR 6.98 million in 2020.

In 2019, revenues at the borders with Albania, BiH, and Serbia totaled EUR 3.73 million, CGES said.

The cable has linked the markets of the EU and Southeast Europe

Since the commissioning of the submarine cable, electricity trade with Italy, including transit, has reached 986 GWh in imports and 1.540 GWh in exports.

“Each new interconnection has an impact on the power system in several aspects. The commissioning of the submarine cable has increased the interest in the allocation of cross-border transmission capacities at Montenegro’s other borders, due to the direct connection of the electricity market of the European Union with the markets of Southeast Europe,” according to the CGES.

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

Janom Investments expands Croatia 30 MW solar power project

Janom Investments expands to Croatia with 30 MW solar power project

01 March 2024 - The planned 30 MW solar power plant in the Slavonia area is the first project of janom Investments in Croatia.

European heat pump sales drop 2023 layoffs

European heat pump sales drop in 2023, resulting in layoffs

29 February 2024 - Heat pump sales tumbled 4.7% last year in 14 countries tracked by the European Heat Pump Association (EHPA)

BiH entities set establishment of power exchange as priority

BiH entities agree that establishing power exchange is priority

29 February 2024 - Energy ministers Petar Đokić from the Republic of Srpska and Vedran Lakić from the Federation of BiH have met in Banja Luka

OMV Petrom EU funding two green hydrogen plants

OMV Petrom obtains EU funding for two green hydrogen plants

29 February 2024 - OMV Petrom is stepping up its decarbonization efforts with projects for two green hydrogen production units at its Petrobrazi refinery