Government of Montenegro and Italian-based A2A SpA, as two leading shareholders of the Montenegrin Electric Power Industry (EPCG), have agreed on the interim agreement for a period of three months in order to regulate mutual relations following the expiry of the EPCG contract (1 April 2015).The agreement does not constitute an extension of the EPCG contract, but it is a completely new and independent agreement between the State of Montenegro and the A2A SpA.
It aims to create a further negotiations framework on the conclusion of a new EPCG agreement, as well as the provision of undisturbed further activities necessary for the completion of the Block II of the Thermal Power Plant Pljevlja. According to the agreement, the A2A SpA will continue to manage the the EPCG included to the same extent that he was enabled through the EPCG Agreement.
Construction of the Block II of the Thermal Power Plant Pljevlja is a basic postulate of the interim agreement and the most important condition for the continuation of cooperation and further negotiations with the A2A. If a common solution for the construction of the thermal power plant Pljevlja is not reached, the interim agreement shall cease to have effect. In this case, the state will take over the management of the EPCG and will continue to implement the thermal power plant construction project on its own regardless of the A2A SpA position.
Source: Government of Montenegro