Ljubisa Djurkovic, Technical Director of Montenegrin state-owned power utility EPCG, has stated that the company is not contemplating an increase in electricity prices for this year. Despite facing a deficit due to insufficient rainfall and the need to purchase electricity, Djurkovic highlighted that the prices EPCG charges residential consumers are among the lowest in Europe, significantly lower than those in any EU member state. This pricing structure means that EPCG is unable to generate profit from its residential electricity sales.
Last month, EPCG reported earnings of 22.4 million euros from electricity exports. The company has effectively managed supply despite increased consumption during heat waves and the tourist season. Planned plant overhauls and proactive production management have allowed EPCG to import electricity when market prices are low, optimizing resources such as water reservoirs.
In the first half of the year, EPCG purchased 430,304 MWh of electricity for 26.6 million euros (average price of 61.82 euros/MWh) and sold 544,669 MWh for nearly 49 million euros (average selling price of 89.93 euros/MWh). This financial performance is notable given that hydropower plant production was 85% below planned levels during the same period.
