CEDIS: Pribilović tried to mislead the public by telling untruths, the biggest problem is the high price of electricity on the stock market

The Montenegrin Electric Distribution System (CEDIS) announced this evening that the member of the Democratic Party of Socialists (DPS) in the Parliament of Montenegro, Suzana Pribilović, tried to mislead the public by telling untruths with today's statement.

Pribilović said earlier today that "CEDIS is an example of election loot, used for the megalomaniac desires and partitocracy of corrupt officials."

"Therefore, we are obliged, above all to the citizens and our users, to present the real reasons that led to the negative business of CEDIS and thus deny MP Pribilović. The biggest problem that all energy systems in Europe are currently facing is the high price of electricity on the European Energy Exchange. This problem has not bypassed Montenegro either, and this is precisely the main reason that affected the business results of CEDIS," the announcement states.

They added that "the dizzying jump in electricity prices on the stock exchange, which from around 50 eur/MWh in January, today reached a price of 322 eur/MWh, with a further upward trend, is the reason why CEDIS had costs higher than those approved by by the Energy Regulatory Agency (RAE) for the procurement of electricity to cover losses in the distribution system, which are borne by the Company".

"If the post office Pribilović was interested in the real reasons for the unplanned increase in costs and if it had dealt with this issue with a professional approach, rather than a political and manipulative approach, it would have come to the data that RAE, when establishing the regulatory allowed income for the period 2020-2022 approved to CEDIS the amount of 11.629.964 euros based on costs for covering losses in 2021, with the approved price for the purchase of electricity to cover losses in the amount of 53,39 euros per MWh," said CEDIS.

They told Pribilović that "no one in CEDIS could influence the price of electricity on the stock market, which is why we had such higher costs than approved by the RAE, nor avoid the harmful impact that disruptions in the electricity market have on our company".

"If we had procured electricity to cover losses at the price defined by RAE, we would have been in the zone of positive business. Let us note that the previous management of CEDIS did not procure electricity to cover losses in the distribution system for 2021 last year. Such the decision was made arbitrarily, which means that the previous management decided not to procure the necessary energy on time and thus knowingly introduced the company to a high risk of monthly energy procurement," said CEDIS.