Revenues from submarrine cable exceed €7 million
Montenegrin Electricity Distribution System revenues totaled €37.306.530 in nine months, which represents a 20% decrease on the same period of 2019.
When it comes to the undersea cable, Distribution system made a profit of €3.8 million from the allocation of cross-border capacities.
Total revenues exceed €7 million.
During the coronavirus pandemic, Montenegrin Electricity Distribution System has reduced expenses for €1.4 million. Total expenses were €26.510.622 in the period between January and September.
Net profits stood at €9.8 million for nine months.
On the basis of the commercial use of the undersea cable, which started on 28 December last year, the company made a profit of €38 million.
Possible delay in the collection of a part of claims in 2020 might be a potential risk.
Having regard to the fact that Montenegrin Electricity Distribution System is a regulated subject, bases in one part on tariffs on electricity producers and tariffs on other users, the level of revenues might vary due to different level of production.
The agreement on connection between Italy and Montenegro through power cable was signed in November 2010 and the value of the project of connecting Italy and Montenegro is estimated at around €1 billion.
The total length of the cable between Pescara and the cape Jaz amounts to 455 kilometres, of which the length of the submarine cable is 433 kilometres.