CFO of Montenegrin state-owned power utility EPCG Miro Vracar said that the company expects to export a total of 191 GWh of electricity worth some 40 million euros in the first quarter of the year.
According to Vracar, EPCG will produce some 528 GWh of surplus electricity in 2022 after the closure of aluminium smelter KAP. He said that if the projected energy balance is achieved, EPCG will have over 100 million euros in revenues from electricity exports in 2022.
In accordance with Montenegro‟s energy balance, which was adopted before the closure of KAP, EPCG was supposed to supply 586 GWh of electricity to the company, but now it will supply only 61 GWh.
Vracar said that EPCG is benefiting from increased electricity prices on the European exchanges, which is expected to continue in 2022 as well.
