Montenegrin Minister of Energy and Mining, Admir Šahmanović, has requested comprehensive oversight of Elektroprivreda Crne Gore (EPCG), in response to concerns over the company’s expected weaker financial performance in 2025.
In an official letter addressed to EPCG’s Board Chairman Milutin Đukanović and Executive Director Ivan Bulatović, Šahmanović asked for detailed information on the number of current employees and external contractors. He also requested that any future hires must receive prior approval from the Ministry, accompanied by a justification for each position.
The minister emphasized the need for advance notification of all major strategic decisions that may have a significant financial or business impact. He also requested a series of specific reports from the EPCG leadership. These include an operational report covering key activities in electricity production and supply; a financial report consisting of the balance sheet, income statement, and cash flow statement; a breakdown of all donations; and an overview of implemented and planned investment and development projects.
Given the state’s majority ownership in EPCG, Šahmanović underlined the importance of ensuring that the company can maintain smooth operations amid the planned shutdown of the Pljevlja Thermal Power Plant for ecological reconstruction. He demanded information on whether EPCG has secured the necessary electricity supply for the duration of the shutdown and at what cost.
The minister also requested that EPCG submit monthly updates on the progress of the reconstruction project, specifically by the fifth of each month for the preceding month. Additionally, he stressed the importance of financial planning to cover salaries, taxes, energy procurement, loan repayments, and other obligations during this period.
Šahmanović concluded by reiterating the Ministry’s need for a clear overview of all financial flows and activities to ensure the continued stability of the national energy supply and the financial health of EPCG.
