Montenegro receives 30 million euros for energy support

In January, the European Union will provide Montenegro with grants in the amount of 30 million euros to support the energy sector. The Minister of Capital Investments of Montenegro Ervin Ibrahimović and Cristina Popa discussed issues of mutual interest in Podgorica in connection with the energy and transport agendas and the overall political situation. Cristina Popa once again confirmed that the European Commission is providing its six partners from the Western Balkans with an energy support package of one billion euros.

Within that plan, in January of next year, the EU will provide grants in the amount of 30 million euros for the benefit of the citizens of Montenegro. The main goal is to mitigate the impact of high market energy prices in order to protect small businesses and vulnerable households

Cristina Popa and Ibrahimović discussed the need for a functional “day-ahead” electricity market to start operating, as well as the need to connect with neighboring markets, accelerate the transition to market support schemes for renewable energy, and adopt the law on security of supply of oil derivatives and establish authorities for storage of mandatory oil reserves.

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