Negotiations on EPCG finally completed – Montenegro, 25 June 2016

According to unofficial sources, year-long negotiations between the Montenegrin Government and the Italian company A2A regarding the management of Montenegrin power utility EPCG have been successfully completed. The epilogue is that A2A will remain in EPCG and the second unit at thermal power plant Pljevlja will be built.
A2A will remain in EPCG for another five years and that will not in any way endanger the project for the construction of second unit at TPP Pljevlja. An integral part of the new agreement will be the option in which the Italians, under certain circumstances, could leave EPCG and sell its stake to Montenegrin Government for 250 million euros, payable in seven annual installments. This option could be activated under certain circumstances, such as inputs from external markets, extremely bad weather or droughts. According to unofficial sources, A2A waived its right for arbitration in case of termination of the contract due to this option. The draft agreement should now be approved by the Government, followed by the signing of a new long-term agreement on the management of EPCG with A2A.

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