PRIME MINISTER AND HIS ASSOCIATES VISITED EPCG: THERE WILL ALWAYS BE MONEY FOR RIGHT PROJECTS

Prime Minister Krivokapić emphasized the importance that EPCG has for the overall development of Montenegro, and that the Government is ready to support all projects in the field of energy, because electricity is a product that is in demand and has its future.

"Being energy rich means being economically powerful. It is important to prepare all projects completely according to the standards dictated by the EU, in order not to get into the situation that there is a secured credit line and there are no ready projects. There will always be money for right projects in the field of green energy ", said Krivokapić.

The Prime Minister pointed out that there are quite sufficient preconditions for investing in the field of energy in the north and south of Montenegro, where the installation of wind and solar power plants would achieve an economic balance that currently does not exist between these two regions.

The Prime Minister emphasized that one should not cultivate the illusion and spread false hopes that it will be profitable to produce electricity in thermal power plants long after 2030, therefore, it is necessary to start the realization of all energy solutions as soon as possible, which would replace the production of electricity in the extent for which the thermal power plant "Pljevlja" is now in charge.

"The Adriatic-Ionian gas pipeline, even the one that would go from Prijepolje via Pljevlja, the gas power plant in the hinterland of Bar, are just some of the solutions we must enter. We have to create a multivariate energy system and we do not have time to lose," Krivokapic said.

The President of the Board of Directors of EPCG, Milutin Đukanović, described the situation in which the new management found this company as catastrophic. 

"It is a real miracle how the previous administration and government managed to destroy the cult of work and not use the incredible potentials. Regardless of the damage, we will achieve high expectations. I honestly think that with the green transformation, we can be the locomotive of the development of all other economic segments in Montenegro," said Djukanovic.

Djukanovic pointed out the high social responsibility shown by the new management of EPCG, which immediately after taking office, made the company's profit from 2020 available in the state budget, and that due to the socially correct attitude, they also did not want to jeopardize the social security of citizens who have debts based on electricity consumption.

"In the first half of this year, we made a profit of 17.1 million Euros, we paid 30 million into the State budget, and our daughter companies, Coal mine Pljevlja and CEDIS, paid another 14.5 million. We haven`t forgotten even the regular payers, to whom we approved a 12.25 percent discount on the total bill for the consumed electricity. In addition, we have enabled the repayment of the old debt in 96 monthly installments and numerous other benefits", reminded the President of the Board of Directors of EPCG.

 Djukanovic emphasized that, in the function of more efficient adoption and realization of projects in the electricity sector, EPCG formed a multidisciplinary Commission, because these are complex and expensive investments.

"I will be proud that for the Solari 3000+ and Solari 500 + projects, after only two months, we announced a public invitation for financing projects with a total value of app. 30 million Euros. Eight financial institutions have already expressed interest in financing these projects. We marked a large number of locations we planned for the construction of solar power plants and wind farms, in September we expect the start of work on the wind farm "Gvozd", with production capacity of over 50 megawatts, by the end of October we expect to complete the redacted project for HPP "Komarnica and we have discussed with Republika Srpska the compensation for Lake Bileća and HPP "Sutorina", pointed out Đukanović.

The Chief Executive Officer of Elektroprivreda Crne Gore Nikola Rovčanin pointed out that the new management of the company for the past four months managed to improve the company's image not just from a financial point of view, but also from a consumers’ perspective and that, for the sake of the new way of managing, they renounced severance pays and many of their privileges in advance.

"We have shown high social responsibility. By financing the asphalting of many local roads and helping the institutions of the health system, we are repaying the debt to the health system and infrastructure and we are trying to make Montenegro healthier and more beautiful. There are numerous sports’ organizations in Montenegro whose sponsors and financiers we are," said Rovcanin.

Minister Stijović spoke about solving the problems around Lake Bileća, whose 44 percent of the basin is located at the territory of Montenegro, and the rest in the Republika Srpska, as well as restocking of Niksic accumulation lakes, which the relevant Ministry should provide in cooperation with the Municipality of Niksic and Elektroprivreda Crne Gore.

EPCG Chief Financial Officer Miro Vracar informed Prime Minister Krivokapic about the amounts of debts that budget consumers have towards EPCG, but also about the debt in the amount of 13.5 million Euros made by the company Montenegrobonus that was taken over by the previous Government and extended the repayment until 2026 by annexing the contract. Vracar expects from the current Minister of Finance that this and similar budget debts will be resolved in favor of EPCG as soon as possible, so that the company receives the necessary financial input that would enable it to fully implement the ambitious development plans of the new management.