Power monopoly posts 33 million German mark loss in 2001
- Power monopoly posts 33 million German mark loss in 2001
- Post By daniloc
- 12:40, 24 april, 2002

Niksic (MINA-BUSINESS) – Montenegro#s power monopoly Elektroprivreda Crne Gore (EPCG) ended 2001 with a 33 million German mark loss, which will be covered from provisions to be set aside in the next three years, shareholders of the company decided at their meeting on Tuesday. EPCG had 371 million marks earnings in 2001 and 412.9 million marks expenditures, leaving it with a 33 million mark loss. The negative result was mainly the consequence of low electricity prices. After the completion of a mass voucher privatisation, 67.66 percent of the company is still owned by the state, 30.84 percent belongs to citizens and 1.5 percent to workers.