Today, the “Ugljevik Mine and Thermal Power Plant” signed an agreement on the settlement of obligations under arbitration decisions towards the company “Elektrogospodarstvo Slovenije”, which suspends the arbitration proceedings in Washington. This is the third agreement that fulfills all obligations and defines the next steps in suspending the arbitration proceedings conducted regarding the self-management agreements regarding the construction of the “Ugljevik” Thermal Power Plant.
“RiTe Ugljevik” no longer has any legal problems – there is coal, there is no arbitration, emphasized Luka Petrović, Director of “Elektroprivreda Republika Srpska” after signing the third agreement with “Elektrogospodarstvo Slovenije”.
“It was agreed that, let’s say, both sides have given up on the Washington arbitration, so in a way I want to sublimate: 67 million is the first, 54 million is the second and 37 million is the third agreement. All of this was agreed for seven, six, something like two and a half years. As of today, two installments will be paid,” said Petrović.
“Rudnik i Termoelektrana Ugljevik” owed 67 million euros to “Elektrogospodarstvo Slovenije” in interest for undelivered electricity, but the Slovenian company recently agreed to write off 30 million euros.
“We managed to reach a solution based on respecting final decisions, protecting the company’s economic interests and long-term sustainability for both parties. For ‘EGS’, this agreement means a legal and financial conclusion to issues from the past,” said Darko Kramar, director of “Elektrogospodarstvo Slovenije”.
All signatories to the contract claim the same thing, which is that the problem has finally been resolved. “Rudnik i Termoelektrana Ugljevik” emphasize that talks have been initiated to increase the price of a third of the electricity produced and supplied to Slovenians.
“In this way, we are also creating the preconditions for negotiations with the holding of Slovenian power plants on the future price of electricity, which we believe is low and we need a higher one in order to recover faster and produce a larger amount of electricity in the future,” says the director of “RiTE Ugljevik”, Žarko Novaković.
After the agreement, the question arises as to who will pay the 37 million euros to the Slovenians – RiTE, ERS or a third party. The relevant minister, Petar Đokić, who also attended the signing of the contract in Ugljevik, previously emphasized that the entity government will provide guarantees for the fulfillment of this financial obligation, Srna writes.
