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Montenegro rules out electricity price hike as energy investments accelerate

Energy and Mining Minister Admir Sahmanović stated that the Government does not plan to increase electricity prices, although future decisions will depend on several influencing factors. Speaking in Parliament, he stressed that ensuring both the sustainability of the energy system and affordable prices for citizens remains a key priority.

Sahmanović acknowledged that Montenegro continues to struggle with insufficient investment in the energy sector, but noted that the ecological reconstruction of TPP Pljevlja is now in its final phase. He added that several new projects are planned, expected to bring around 500 million euros in investment. This year alone, more than 200 MW of new solar capacity has been installed, while work on the Gvozd wind farm is progressing, supported by an agreement to increase its output. In addition, upgrades to HPP Perućica are scheduled for next year.

He emphasized that Montenegro must continue expanding its energy capacity and developing projects aligned with decarbonization objectives. However, he warned that major challenges remain, particularly the eventual phase-out of TPP Pljevlja, which has historically provided close to half of Montenegro’s baseload electricity—reaching as much as 75 percent in some months.

Replacing this stable source of supply and securing alternative employment for workers after the plant’s closure will be difficult, Sahmanović said. Due to the ongoing reconstruction of TPP Pljevlja, Montenegro has already imported more than 80 million euros worth of electricity this year at high market prices.

The Minister also underlined the importance of the national Solari 3000+ and Solari 500+ programs, which are part of EPCG’s broader energy transition strategy. These initiatives will install photovoltaic systems with a combined capacity of 30 MW, supported by investments of 33 million euros.

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