The Montenegrin electricity transmission system celebrated six years of independent operation and 60 years of the integrated electricity system with a modest ceremony.
It celebrated six years of success and fulfilment, outstanding business results, a period of full dedication to development goals, maximum engagement from all employees, a time of invested knowledge and effort, visible results, major investments, but also significant achievements. A period of markedly visible financial indicators.
On that occasion, the Chairman of the Board of Directors, Dragan Laketić, said, among other things, in his welcome to the attendees:
's missingI am grateful for the opportunity to address you again on this 1st of July, which we have been marking for the sixth consecutive year as the Day of the Montenegrin Transmission System. Alongside gratitude, I also feel a sense of satisfaction in being able to share with you my conviction that the business results we achieved at the end of 2014 clearly point to another successful business year, now the sixth in a row with a positive business result, and with a record profit achieved. A record profit of 12.1 million euros, a record 98.4% implementation rate for the investment plan in the internal network, and a record total of investments realised in a single year, amounting to 20.3 million euros, are facts that should make us satisfied and proud. Furthermore, Laketić emphasised, we have striven and succeeded in continuing the trend of increasing operational efficiency, for which one of the key indicators is the increase in asset value per employee. If we recall that this company was founded at the end of March 2009, when our economy and society were already deeply feeling the effects of the global financial crisis, which, unfortunately, has not subsided to this day, then the business results in the preceding period, and especially in 2014, become even more impressive. Aware of all the factors that influenced the results achieved, we have sought to balance the consequences of the unworkability of certain regulator decisions, which fundamentally affect CGES's operations, alongside the implementation of our highly demanding plans, and to contribute to improving relations among the key players in Montenegro's electricity sector. These developments have once again confirmed that predictability of the regulatory framework and a harmonised relationship between energy entities are essential conditions for the successful fulfilment of objectives in the public interest, for the benefit and satisfaction of CGES's shareholders.
To achieve our mission and ensure a reliable transmission system with sufficient capacity and unimpeded access for all users, we must continue with activities to connect and strengthen the transmission network, both internally and with our surroundings. because, as he pointed out, only in this way will we be able to meet the challenges posed by the future, which are, first and foremost, the integration of renewable sources and the creation of all conditions for the smooth functioning of the electricity market. I would highlight a few investment projects that illustrate our approach to developing the transmission network in all regions of Montenegro, the completion of which is expected by the end of this year or by the middle of next year. These are:
's missing The 110 kV 'Tivat-Kotor' transmission line, the completion of which will bring the already constructed 110/35 kV 'Škaljari in Kotor' substation into operation;
's missing Dual connection to the transmission network of the 110/10 kV 'Podgorica 4' substation;
's missing Construction of the 110/10 kV 'Kličevo' substation in Nikšić and its connection to the transmission network;
's missing Proširenje trafostanice 220/110/35 kV “Mojkovac”, ugradnjom drugog transformatora 110/35 kV, snage 20 MVA.
I believe that our investment projects encourage investment activity in Montenegro and the region, particularly those concerning the construction of new sources of electricity. To meet these objectives, it is essential that we continue with the intensive implementation of the undersea interconnector project with Italy, as well as other investment projects, for which an amount of 164 million euros is planned over the next five years. We want our activities, particularly the investment projects for which we have received clear institutional support, to be accepted on a broader social level, and in this regard, we are ready and open to continuing the public dialogue in order to find a compromise between the necessity of building transmission network facilities and protecting the interests of the other side. always bearing in mind that the transmission network in Montenegro is part of the technically integrated European transmission network and must meet the safety standards and criteria prescribed at the European level. Our aim is to minimise the negative impact on the environment and achieve the highest possible compatibility with the surroundings through the construction of the transmission network facilities.
A top priority for us is to maintain a high level of cooperation with the European Transmission System Operators' Association, ENTSO-E, and the Energy Community of South-Eastern Europe, as well as maintaining a leading position in openness to regional initiatives such as the Regional Auction House and the Security Coordination Centre, thereby contributing to the integrative processes to which our state and society aspire.
Finally, Dragan Laketić particularly highlighted that the dedication and expertise of our employees were the decisive factors in achieving such business results, and he thanked the members of the Board of Directors, the management team, and all employees for their cooperation and contribution to achieving the business goals.
The past year has confirmed that we remain committed to the concept of socially responsible business as a strategic framework for managing our company.There is little time to list all our actions within this area of our work. Nevertheless, we must highlight a great deal of sensitivity when it comes to people with disabilities and the institutions that care for these members of our society.Therefore, on this occasion, the Executive Director of CGES, Ivan Bulatović, presented a cheque to the representative of the Resource Centre from Kotor, Mrs Jelena Avramović, which will enable the purchase of an interactive whiteboard and a projector. The donation will help the children at the Resource Centre to successfully follow lessons as part of their educational process.
The potential of any company is measured by the number of individuals capable of driving everything necessary to meet the demands our environment places upon us.At CGES, we are working to increase the number of such individuals. Among them is Danijel Bucalo from the Podgorica transmission team, who has been named CGES's best worker.
For the second year running, we have been encouraging employees at our electrical power facilities to look after their second home. With that aim, we have once again declared the best transformer substation in Montenegro. That honour went to the 110/35 kV "Nikšić" substation.
And last but not least, CGES is now and in the future inviting its pensioners who have left their mark through their dedication and work, as well as their distinguished contributions within our company. In this regard, on this occasion the Executive Director honoured our two pensioners with appropriate gifts.
