April 19 (SeeNews) - Montenegro’s power grid operator Crnogorski elektrodistributivni sistem (CEDIS) recorded a net loss of 9.8 million euro ($10.6 million) in 2021, caused by the global energy crisis and the jump in electricity prices, the company said.
CEDIS submitted its business results for 2021 on April 14 without calculating the invoices of EPCG for the supply of electricity in the period between April and December 2021, the power grid operator said in a statement last week.
EPCG should approve the invoices by June 30 and they will correct the financial result of CEDIS, turning it to a profit of 400,000 euro, the company said.
"The 2.3 million euro increase in the costs of salaries, wages and other personal expenses, which includes the amount of funds paid for severance pay, is not the reason for the loss," CEDIS noted.
($ = 0.925914 euro)