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By:
Sanie Yusufi
- August 9, 2020 22:20
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About 270 thousand euros of Kosovar taxpayers have been spent for two years for the New Energy Enterprise NKEC. Almost 10 euros were spent last year for the salaries of 90 officials of this company alone.
Established by the Government in 2018, without the future of the "New Kosovo" project being clear, it has not managed to secure long-term financing, operating only with subsidies from the Government.
However, its activity has been called into question after the announcement of the investor "Contour Global" to withdraw from the agreement for the construction of this project.
According to the report of the National Auditor's Office (NAA), there are material uncertainties that the project for the construction of the "Kosova e Re" thermal power plant will not be able to be realized.
"Even though commercial agreements allow that, with the agreement of the parties, it is possible to move the scheduled deadlines in the event of the action of any force majeure or the objective impossibility of fulfilling any necessary condition, there are material uncertainties that the construction project of TCKR in the defined terms it will not be possible to realize".
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In its plan, NKEC has foreseen that the most sustainable way of its financing will be through the inclusion of electricity tariffs. But this issue has not been resolved yet.
"Based on the 2020 business plan, the company has predicted that the most sustainable way of financing the company is through inclusion in electricity tariffs. Also, the company is still operating with a temporary board. However, in this situation, it remains for the Government of Kosovo to assess whether or not to continue the project for the construction of the "New Kosova" thermal power plant, as well as the way of financing the enterprise.
The company told TIME that while it still does not generate its own income, it had to be subsidized by the Government of Kosovo. She has not answered about the future of the contract with "Contour Global".
"The subsidization of NKEC took place in two phases, the first phase until the end of 2019, 115 thousand euros were allocated, while for the year 2020 onwards, 150 thousand euros were allocated"
The auditor has recommended that the Board of this company should provide a comprehensive review of the company's going concern principle, coordinating with the Government and the investor to define the issue of whether the "New Kosovo" construction project will continue.
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In cases of abandoning this project, according to him, the Board and the Government must have a clear vision of how the future of the enterprise will be.
Based on the Energy Strategy of Kosovo, as well as the Government Program, it is foreseen that Kosovo will build new generating capacities based on coal, to replace the outdated capacities.
