CGES suffers annual profit drop by two thirds


April 4, 2016





April 4, 2016




Montenegro’s majority state-owned power transmission system operator Crnogorski elektroprenosni sistem (CGES) posted net profit of EUR 4.02 million for last year, 67% less than in 2014, SeeNews reported. The company said revenues reached EUR 31.57 million, down 15% from the previous year, while its operating costs rose 9.8% to EUR 26.4 million. CGES reported results in a filing with the Montenegro Stock Exchange. The state owns a 55% stake in CGES, while Terna holds 22%, and Serbian transmission system operator Elektromreža Srbije (EMS) purchased 10% in late December.

Related Articles

Kosovo measure wind potential auctions public projects

Kosovo* to measure wind potential for auctions, public projects

02 March 2024 - Kosovo* is about to measure wind potential to present the data to foreign investors or develop public projects

Nikšić from solar and wind can produce enough electricity for the entire Montenegro

Solar, wind parks around Nikšić could power entire Montenegro

01 March 2024 - Solar and wind power plants in optimal locations in Nikšić could cover the electricity consumption of all households in Montenegro

dodik buk bijela hydropower montenegro mandic

Republic of Srpska offers Montenegro to join Buk Bijela hydropower project

01 March 2024 - President of the Republic of Srpska Milorad Dodik offered to Montenegro to join the construction of the Buk Bijela hydropower plant

Serbia to couple electricity market with EU by 2026 SEEPEX stojcevski

Serbia to couple electricity market with EU by 2026 – SEEPEX

01 March 2024 - Coupling will make it easier for the industry, as a consumer, and power producers to enter the electricity market