EPCG’s net profit plunges 35.7% in 2019
Montenegrin state power utility Elektroprivreda Crne Gore’s (EPCG) net profit in 2019 dropped 35.7% against 2018, to EUR 28.3 million, according to EPCG’s annual report. In 2018 the company posted a net profit of EUR 44.1 million. Operating revenues stood at EUR 323 million in 2019, an increase of EUR 20 million compared to 2018, […]
EPCG, Končar DST sign EUR 2.3 million contract for HPP Perućica
Montenegro’s power utility Elektroprivreda Crne Gore (EPCG) has awarded a EUR 2.25 million contract for the equipment for Perućica hydropower plant (HPP) to a consortium established by Končar DST and Electro Team. The firms will deliver five transformers as well as spare parts and special tools. The contract was signed by Igor Noveljić, CEO of […]
Sekulić: Coal excise tax to cover Montenegro’s stimulus for renewables
Among her remarks in New Year interviews with several domestic media outlets, Montenegro’s minister of economy insisted households will continue to be exempted from premiums for electricity from renewable sources for the consumption of up to 300 kWh per month. Furthermore, Dragica Sekulić stressed, the 2019 directive on stimulus for such production of electricity and […]
Chinese-Montenegrin consortium wins bid for eco-reconstruction of TPP Pljevlja
Chinese-Montenegrin consortium DEC International-Bemax-BB Solar-Permonte has been picked as the best bidder for an environmental reconstruction of thermal power plant TPP Pljevlja, a project that will enable the Pljevlja power generation and coal mining complex to operate for the next 20 to 30 years, according to a statement from state power utility Elektroprivreda Crne Gore […]
EPCG, Montenegrin government pay EUR 212 million to Italy’s A2A for EPCG shares
State power utility Elektroprivreda Crne Gore (EPCG) has so far paid EUR 103.65 million to repurchase shares from Italy’s A2A, while EUR 108.86 million has been set aside from Montenegro’s state budget for the same purpose, according to Dragica Sekulić, the economy minister, RTCG has reported. The exit of Italy’s A2A from the ownership and management […]
EPCG, KfW ink EUR 33 million loan for Phase II of HPP Perućica’s reconstruction
Montenegro’s state power utility Elektroprivreda Crne Gore (EPCG) has signed a EUR 33 million loan agreement with German development bank KfW for Phase II of a project to overhaul and modernize the Perućica hydropower plant (HPP), the country’s oldest. The loan agreement for the second phase of HPP Perućica’s reconstruction and modernization was signed by […]
EPCG shareholders approve investment in Gvozd wind farm project
Shareholders of state power utility Elektroprivreda Crne Gore (EPCG) have approved an investment into a joint EUR 58 million project with Austria’s Ivicom Holding to build the Gvozd wind farm, RTCG reported following a meeting of EPCG’s shareholders. Ivan Mrvaljević, head of development and engineering at EPCG, said earlier this year that EPCG could launch […]
Electricity customers in Montenegro to get EUR 20-200 for poor supplier, system operator service
From August 8, customers in Montenegro will receive financial compensation of EUR 20-200 in situations when the minimum quality of electricity supply is not met, the Energy Regulatory Agency (RAE) of Montenegro has said on its website. Customers may file complaints about events occurring from August 8, within 30 days of the event which resulted […]
