Milutin Đukanović, Chairman of the Board at Montenegro’s power utility EPCG, announced that retail electricity prices will remain stable through the end of the year. However, the company plans to review its discount policy, ensuring that households with monthly bills up to 50 euros will continue to receive discounts, protecting low-consumption customers from significant price increases.
Đukanović confirmed that Montenegro is close to finalizing a bilateral agreement with France to boost investment in the country’s energy sector. As part of this partnership, the state-owned French utility EDF will collaborate with EPCG to construct the Krusevo hydropower plant. Discussions with EDF are already in progress, and Đukanović expressed confidence that the project will advance smoothly.
Regarding future projects beyond Krusevo, the status of the Komarnica hydropower plant remains under discussion. With the construction of a new highway diverting traffic away from the Morača gorge, new opportunities have arisen to develop the Andrejevo hydropower plant and a cascade of smaller installations along the river. Đukanović suggested that such combined tourism and energy projects could become key regional attractions while increasing electricity production.
On EPCG’s overall financial health, Đukanović emphasized the importance of maintaining liquidity. Despite anticipated losses this year due to higher import costs and the planned overhaul of the Pljevlja thermal power plant, EPCG intends to finance the plant’s temporary shutdown using credit facilities with grace periods. The thermal plant is scheduled to resume operations in November, and its revenues, combined with new hydro capacity, are expected to restore profitability and ensure stable cash flow without the need to reduce employee wages.
