The Electric Power Industry of Montenegro (EPCG) confirmed its key role in the regional energy transition through active participation in the ESG Adria Summit, held in Tivat. The event brought together top experts in economics, energy, and sustainable development, as well as representatives of high government bodies and leading companies from the region, according to an announcement from EPCG.
During the panel discussion “Electricity Market Integration and CBAM: Preparing Energy Companies for the Future,” EPCG’s Executive Director Ivan Bulatović emphasized that market integration is an extremely important process for EPCG, opening numerous opportunities for the development of both the state-owned electric power industry and the private sector.
“Market integration will allow us to introduce new products such as a daily market, balancing services through the market, better portfolio and product valuation,” Bulatović said, stressing that this creates more stable and attractive conditions for investors.
He reminded that the strategic decision to integrate markets had already been made at the level of the Government of Montenegro, and negotiations between regulators, system operators, and stock exchanges in Montenegro and Italy are currently underway. However, he pointed out the technical challenges ahead, estimating that the earliest possible date for digital market integration could be the end of 2026 or the beginning of 2027, with full implementation expected by the end of 2036 or the beginning of 2037.
Bulatović also highlighted that EPCG is entering a significant investment cycle with a clear strategic focus on renewable energy sources, which includes transforming part of its production from thermal power plants to more sustainable sources. He particularly emphasized the contribution of newly adopted legal acts by the Ministry of Energy, which focus on incentives for renewable sources and improving energy efficiency.
“The process is demanding and long-term, but the first indicators are encouraging and provide us with a basis for optimism,” concluded Bulatović, announcing EPCG’s readiness to tackle the challenges of the energy transition.
These messages set the stage for the continuation of discussions that took place the following day during a roundtable at the ESG Adria Summit, on the topic “Electricity Market Integration and Carbon Pricing – Preparing Public Utilities for the Future.”
The event was held at the Maritime Institute in Tivat, where EPCG leaders were joined by key regional and international energy sector players.
The panel was chaired by Ivan Bulatović, Executive Director of EPCG, Artur Lorkowski, Director of the Energy Community Secretariat, and Klaus Martin Muller, Director of KfW Bank for Southeastern Europe and Turkey.
Participants agreed that completing the market integration process and enhancing decarbonization remain key priorities for establishing a competitive, integrated, and sustainable energy system in the region. It was emphasized that electric utilities must become the drivers of change in the decarbonization process, and that structured dialogue between utilities is essential for addressing challenges such as supply security, system flexibility, and investment needs.
Special attention was given to mobilizing financial support from EU instruments, international partners, and the private sector, as a prerequisite for a successful energy transition. It was concluded that continuing dialogue on financing decarbonization is crucial for coherence and predictability of investments in the region.
Speaking about the significance of such meetings, Bulatović emphasized that the gathering of all key energy sector stakeholders in the region was extremely successful, especially in light of the upcoming introduction of the CBAM mechanism, which is scheduled to start on January 1, 2026.
The summit was attended by Montenegro’s Minister of Energy, Admir Šahmanović, North Macedonia’s Minister of Energy, Sanja Božinovska, the General Director of EPS, Dušan Živković, the General Director of ERS, Luka Petrović, the Director of EPHBH, Sonja Sušac, as well as representatives from the EBRD, EIB, and EPCG leaders.
The Electric Power Industry of Montenegro remains committed to leading the regional energy transition, continuing along the path of sustainable development and integration with the European energy market, through strategic partnerships and ongoing reform efforts, concluded EPCG.
