Shareholders of Montenegrin power utility EPCG will decide on the proposal on increasing the financial contribution to its subsidiary, electricity distribution system operator CEDIS.
21.6 million euros are planned to be injected into CEDIS, according to the proposal. Funds are intended for the financial consolidation of CEDIS due to disruptions in the electricity market. Out of this amount, 6.7 million euros relate to the period from 1 April to 31 December 2021 and represent the price difference of electricity procurement to cover the regulator-approved losses.
The funds in the amount of 14.88 million euros relate to the previous year and have the same basis as the funds for 2021. As a result, the stake of EPCG in CEDIS would increase by the specified amount, resulting in a value of 310.29 million euros, instead of the previous 288.7 million euros. EPCG said that this decision does not indicate the poor performance of CEDIS, but rather the dramatic disruptions in the market, within the context of the global energy crisis.
