Montenegrin state-controlled power utility Elektroprivreda
Crne Gore (EPCG) said its net profit rose 38% to 34.7 million euro ($37.2
million) in 2014.
Operating revenues fell 13.7% to 239.6 million euro in
2014, while operating costs declined 10% to 212 million euro, EPCG said in a
financial report.
The Montenegrin government is the majority owner of
EPCG with a 57% stake while Italian company A2A owns 41.75%.
Following
the interim agreement reached on Tuesday between the two major shareholders in
EPCG, A2A will continue managing EPCG in the next three months after their
five-year management agreement expired on April 1. The interim agreement aims to
create a further negotiating framework for the conclusion of a new EPCG
deal.
Last week, EPCG said it had unsealed the final bids submitted by
Skoda Praha and by the China Machinery Engineering Corporation (CMEC) for the
construction of the second unit at its Pljevlja thermal power plant.
The
Czech company has offered to build a 254 MW unit with electrical efficiency of
39.5% for 338.5 million euro. CMEC has offered to build a 250 MW unit with an
electrical efficiency of 39% for 326 million euro.
Both companies have
stated they are ready to secure favorable credits to cover 85% of the necessary
funding and to also perform a technical and environmental retrofit ofTPP
Pljevlja's existing 218 MW unit worth around 20 million euro.
The
commission in charge of assessing the submitted offers should come up by the end
of April with a final proposal for the selection of the best bidder for the
project.
EPCG, which plans to raise output to 3,159 GWh this year from
3,036 GWh in 2014, operates around 870 MW of installed generation
capacity.