For the reconstruction of TPP Pljevlja in Montenegro, it is necessary to publish a study of economic feasibility

27. July 2020. /

The study of the economic feasibility of the project of environmental reconstruction of TPP Pljevlja should definitely be published. An initiative was submitted to Elektroprivreda Crne Gore (Montenegrin power utility) by the NGO Eko-tim in front of the Platform for a fair transition.

– The project of ecological reconstruction is a capital project, with far-reaching consequences not only for Montenegrin energy and environment, but also socio-economic conditions in the country, which additionally obliges EPCG management to consider the financial and economic justification of this project in more detail, announced NGO Eco-team.

The NGO Eco-team mentioned that various information could be heard about the existence of a study confirming the economic justification of this project, and it is still not clear whether any kind of analysis regarding this project has really been done.

– For that reason, we consider it unacceptable not to publish such an analysis if it really exists, and on the other hand even more unacceptable is the fact that this project was approached in such a way that the feasibility study for this project was not done – said the NGO Eco-team.

They remind that in October last year, the analysis “Impact of the emissions trading system (ETS) on the operations of the Pljevlja Thermal Power Plant” was developed, which was made for the needs of the NGO Eco-team by B.Sc. Momir Ċ kopelja, independent energy advisor.

– The quality of this document is reflected in the fact that it is based on projections of CO2 prices based on the latest Reuters assessment, projections of electricity prices from the SEERMAP study from 2017, as well as an estimate of current electricity production costs from TPP Pljevlja done by the Energy Community – said the NGO Eco-team, adding that in all other elements, this analysis is based on data from the Deloitte study from 2016. which was used as a basis for making a decision on the construction of Block 2 of TPP Pljevlja.

The conclusions of this analysis indicate that the profitability of this investment is very questionable, which further motivates us to gain insight into the analysis that proves the opposite – said the NGO Eco-team.

The Eco-team invited the management of EPCG to publish an analysis by which all projections of the most important costs, primarily production and CO2 costs, and revenues from electricity sales were taken into account, which showed the financial viability of the project for the next 30 years.

“It is also very questionable given the current situation and the pressure of the European Union (EU) to close all thermal power plants in the EU between 2035 and 2040,” they conclude from this NGO.






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