Crnogorski elektroprenosni sistem celebrated today seven years of independent work. Seven years of full devotion to developing objectives, maximum engagement of all employees, period of committed knowledge, effort, visible results, big investments and nice achievements. Period of significantly visible financial indicators.
Zvanicama se kao domaćin obratio Chairman of the Board of Directors Mr Dragan Laketić, who was the host, referred to the guests with the following words: “Also this 1st of July, which we celebrate seventh year in a row as the day of Crnogorski elektroprenosni sistem, besides gratitude I feel also the pleasure that I can share with you my belief that another successful business is behind us year in which, despite many temptations, we maintained the growth trend in some key segments of operation. Our corporate data speak that the value of fixed assets of CGES at end of 2015 reached a value of 175 million €, which is 9 million more compared to previous year, and for 40 million € more compared to 2009. For the seventh consecutive year, CGES achieves a positive result showing a net profit in the amount of 4 million €, while the total gained net profit in these seven years reached 35 million €. I particularly want to emphasize that, thanks to a permanent growth, we have stabilized ourselves from previous 3 to 6 million € to an amount from 15-20 million € of implemented investments on yearly level. In addition to significant activities on our main project, i.e. submarine interconnection with Italy, yearly implementation of investment plan in internal grid in the last of couple of years exceeds 90% of the plan, which makes us particularly proud. The effect of investments can be noted, inter alia, also through a permanent reduction of total undelivered electricity from transmission network to customers in Montenegro, which was estimated in 2015 on less than 0,02 % of total transmitted electricity. As for the business efficiency, it is worth to mention that the value of asset per employee is growing year in year out.
In order to understand our mission and ensure a modern and reliable transmission system with enough capacity and undisturbed access for all users, it is necessary that we continue with activities of connection and enhancement of transmission network both on internal plan, and towards our surroundings. Only in this manner, we shall be able to respond to all challenges imposed by the future, and these are principally integration of new sources and creation of all technical requirements for a smooth functioning of electricity market. I would highlight several investments projects that illustrate the commitment to develop the transmission network evenly in all regions of Montenegro:
- We completed reconstruction and extension of substation Mojkovac by installing another transformer with power of 20 MVA, thereby providing 100% reserve in power and significantly increase the safety of supply from transmission network of the consumption are of Mojkovac and Kolašin;
- In Nikšić, works are in progress on installation of 110 kV cable by which the already completed substation Kličevo will be connected to the transmission network. Entry into operation of these facilities is planned within end of September current year;
- In the next ten days, we expect completion of construction of 110 kV overhead line Tivat-Kotor, whose completion shall put into operation the already constructed substation 110/35 KV Škaljari in Kotor.
Please note that these facilities were constructed in accordance with modern technical solution and principles of less negative impact on the environment, that are of significantly lower dimensions and spatially and visually acceptable compared to existing facilities for the same purpose. With this, inter alia, we keep pace with our already long ago announced tendency to put maximum effort to comply with principled of sustainable development and environmental protection.
I believe that our investment project encourage investment activities in Montenegro and the region, especially those regarding construction of new electricity sources and reinforcement of regional transmission network. In order to fulfil these objectives, we shall continue with intensive implementation of the project of submarine connection with Italy, as well as other investments project, for which were planned 150 million euros in the following five-year period. We want that our activities, especially investment ones, for which we obtained a clear institutional support, are accepted on a wider social plan and in these terms we are ready and opened to continue a public dialogue with the aim of finding a compromise between the need to construct transmission network facilities and protection of stakeholders interests, constantly keeping in mind that the transmission network in Montenegro is part of a technically unique European transmission network and that it has to be developed and maintained in accordance with criteria of operation safety laid down on European level.
Key requirements for realization of our plans are, principally, a stable and foreseeable regulatory framework, as well as urgent resolving of problem of very high level of receivables from largest transmission network users and, at the same time, our most important partners. According to our opinion, the disrupted quality of such partnership for already a long period of time does not affect only the successfulness of companies, but it is also crucially important for a successful operation of electric power system of Montenegro, and I would dare to say of the entire Montenegrin economy. I hope and I strongly believe that in front of us are days that we should devote to final consolidation of the settlement agreement and thereby release our companies from a multi-year burden that seriously put at risk our operation and puts in danger fulfilment of our long-term objective. Institutional support and support of all interested stakeholders are also this time a necessary precondition for success, especially keeping in mind the complexity and specificity of the problem that we are solving, respecting the obligation to create a public interest activity, and for the benefit and satisfaction of our users, as well as shareholders and owners of power facilities.
Our top priorities include keeping a high level of cooperation with the European Network of Transmission System Operator of Electricity - ENTSO-e and Energy Community of South East Europe, as well as keeping of leading position in openness towards regional initiatives such as Regional Auction House, Regional Security Coordination Centre and forming of electricity exchange, whereby giving a contribution to integration processes aspired by our country and society.
In the end, I would like to take the opportunity and thank to members of the Board of Directors, manager team, all employees, as well as to those who not long ago were our employees, and they retired recently, for the cooperation and contribution they gave in achieving our business objectives, and thank you dear guests and colleagues for making more solemn todays celebration”.
We shall highlight donations to the Institute for Children’s Diseases, which represents another confirmation of our readiness to be socially responsible. Being aware of all challenges our health services are facing, this time we have opted for the Department of Paediatrics “A”, but also participation in the fundraising dinner where were funds were also destined for this Institute.
We will set aside donations to the Institute for Child Health, which represent yet another affirmation of our commitment to being socially responsible. Aware of all the challenges faced by our healthcare institutions, our choice was the 'A' Paediatric Department, as well as participation in the fundraising dinner where funds were also allocated to this Institute.
Head of the Institute for Children’s Diseases Mrs Sonja Milašinović expressed through words of praise how much we succeeded in the intention and desire to provide for the youngest patients as better conditions.
Such valuable company was built, principally, by its employees. We are proud of them, because from day to day is more difficult for them to respond to all challenges.
Potential of every company is measured by the number of individuals capable to initiate all what is necessary to respond to challenges imposed by the surroundings.
Also this year CGES, showed respect for its retirees by giving them an appropriate present, because they left a mark with their effort and work, but also with notable actions within our Company.
