According to unofficial sources, it is agreed that Montenegrin side sends todays to Milano a new offer, which will be decided upon by the management of the Italian company, which has 41.7 percent of the shares.
Today is the expiry date for the fourth deadline for reaching the agreement on one of four options which are being discussed for almost a year now.
Until now, the most realistic one and the most negotiated one was the exit of A2A from EPCG, meaning selling of their shares to Montenegrin government that now owns 57 percent of the shares of the company.
Montenegro would, if this option prevails, lose an investor that is one of the biggest publicly owned energy companies in Italy, ownership of cities Milano, Brescia and Bergamo.
Problem is that the investor would leave unsatisfied, because until this year it didn’t have a single cent of the return on invested capital, which makes the owners of A2A unsatisfied.
The biggest hurdle, besides the fact that there was no return on capital, is the demand by Montenegrin side for construction of the secong block of Thermal power plant (TE) in Pljevlja.
Italians don’t want new investments in Montenegro, because they feel that they lost the return on their capital due to changes in regulatory system. Along with this, they don’t want to participate in construction of TE at the time when they have an obligation to shut down similar plants in Italy because of the agreement on increasing the share of ‘green’ electricity in production and distribution.
