Representatives of Montenegro's Government and Italian company A2A dicuss future relation within EPCG

Milano, Italy (17 April 2014) – Montenegro’s Deputy Prime Minister Vujica Lazović and Economy Minister Vladimir Kavarić met Tuesday in Milan with repsentatives of the Italian company A2A to discuss the status of the Electric Power Industry of Montenegro (EPCG) considering the fact the basic agreement, according to which the A2A acquired 43.7% of the EPCG's share capital and entered into the management contract for a five-year period, expires in late 2014. 

Given the importance and value of the EPCG contract, as well as the complexity of the issues it regulates, the Government voiced willingness to overcome the problems identified during the implementation of the basic contract. The Government's starting point is Montenegro’s strategic interest to hold majority stake in the EPCG and to accelerate investments in the energy sector. In that regard, the meeting also concentrated on the status of the project of Block II of the Thermal Power Plant in Pljevlje.

The officials also discussed the possibility of extending the A2A management rights, with the prior definition of new indicators and monitoring methodology as a mechanism for evaluating the management’s performance.

Representatives of the Montenegrin Government and the A2A confirmed their willingness to work towards creating conditions for successful operation of the Electric Power Industry, with lower economic costs, a high level of sustainability and a clear development policy.

In order to regulate relations between Montenegro and the A2A in a long-term sustainable manner, the meeting addressed other issues that are prerequisites and an integral part of the future relations.