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The financial report of Electrical Power Company is the best in history – The company plans over 80 MW of solar power plants

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The financial report of Electrical Power Company of Montenegro for the past year will be the best in history, says the Chairman of the Board of Directors of EPCG, Milutin Đukanović. He stated that he is extremely satisfied with the cooperation with the new government. He emphasized that the company has made good business moves, enabling a surplus of electricity, and they do not plan to increase the electricity price.

  • The entire profit of EPCG will be around 70.80 million EUR. To avoid confusion, there is one disputed invoice of 10 million euros, whether it will be borne by the Montenegrin power distribution system (CEDIS) or will be EPCG’s revenue, we will see, but it will be around 70-80 million EUR profit – he said.

He emphasized the increase in assets and believes that they have traded electricity well.

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  • I think we are the only power utility in the region and beyond that did not increase the price of electricity – said Đukanović.

EPCG’s plan is to build over 80 megawatts of solar power plants in 2024.

  • We have identified all the problems we have, but due to the halt of TPP Pljevlja due to reconstruction, we have to build at least 100 megawatts of solar power plants – he said.

He emphasized that he expects a good business result in 2024 as well.

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  • We have an exceptional cooperation with the new government. We communicate almost on a daily basis. Mr. Mujović has good references, and we are satisfied that he came to that position – emphasized Đukanović.

He pointed out that they do not plan to increase the price of electricity.

  • We currently do not think about increasing the price of electricity, although citizens should know that Electrical Power Company of Montenegro is burdened with significant costs. We have to allocate over 40 million euros annually to these privileged producers. Also, we pay the G component to the Montenegro Electricity Transmission System (CGES) – he said.

He highlights that the public procurement system is a big problem and expects lawyers from CEDIS and Electrical Power Company of Montenegro to propose amendments to the Law on Public Procurement to simplify these procedures.

It is possible that the price of electricity in 2025, especially in the summer months, will be cheap.

  • Why? Even cheaper than today because of the expansion of solar power plant construction in Europe. Let’s wait a little to see our readiness and see the movement on the market, we will be responsible, and we will do that job responsibly – emphasized Đukanović.

He concluded that the number of regular payers has increased from 190,000 to 240,000.

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