Elektroprivreda Crne Gore (Bloomberg: EPCG ME) has announced its intention to purchase 817 GWh of electricity for 2010. According to preliminary estimates, the company will have to spend € 57.4m on the intended purchase. The electricity order is split into 16 parts: offers can be submitted for the total amount or for individual parts. Offers can be submitted by 4 November 2009. The results of the tender will be announced within 30 days of the closing date.
We expect this news to have a neutral trading impact. The demanded amount of electricity is in line with the firm’s regular annual import of electricity. EPCG spent € 54.3m on 987GWh of electricity in 2H09 to cover its needs for 2009.