Montenegro saw a notable decrease in electricity production in 2024, generating 3,447 GWh, which is a 15% drop compared to the previous year and 4.4% below the forecasted figures. The decline was largely attributed to unfavorable hydrological conditions, as reported by the Ministry of Energy. Hydropower production, which is a key component of the country’s […]
Montenegro’s key electricity producer, the Pljevlja thermal power plant, has been shut down for reconstruction and will remain offline until mid-November. The plant typically supplies over 40 percent of the country’s electricity, making its closure a significant challenge for the national energy system. Despite the shutdown, the state-owned utility EPCG has assured consumers that electricity
Montenegro faces energy challenges as TPP Pljevlja shuts down until November Read More »
Montenegro is on track to begin its digital integration with the unified European electricity market between late 2026 and early 2027, with full integration anticipated by the end of 2036 or early 2037, according to Ivan Bulatović, CEO of state-owned power utility EPCG. This step marks a major transformation for Montenegro’s energy sector, paving the
Montenegro targets full integration with European electricity market by 2037 Read More »
Pljevlja coalmine recorded a net profit of 15.06 million euros in 2024, slightly down from 15.2 million euros in the previous year. According to the financial report, the coalmine’s sales revenues in 2024 reached 65.3 million euros, marking a 6.3% decrease compared to 2023. Operating expenses, however, dropped by 2.7%, totaling 57.1 million euros. At
Montenegro: Pljevlja coalmine reports slight decline in profit for 2024 Read More »
In March 2025, the average electricity bill for households amounted to 38.48 euros, reflecting a 6.2% decrease from the previous month (41.03 euros) and a 10.7% increase compared to March 2024 (34.76 euros). Zabljak municipality recorded the lowest average bill at 18.3 euros, while Tivat had the highest at 50.8 euros. 59% of households paid
Montenegro: Average household electricity bill in March 2025 drops 6.2% from February Read More »
Montenegro has plans to develop solar and wind energy projects totaling 4,000 MW, according to Admir Šahmanović, Minister of Mining, Oil and Gas and the Coordinator of the Ministry of Energy. Speaking at the Economic Dialogue Montenegro-Italy round table, Šahmanović emphasized the need for stronger bilateral cooperation in the energy sector and highlighted Montenegro’s strong
Montenegro plans 4 GW in renewables, seeks stronger energy ties with Italy Read More »
State-owned power utility EPCG has requested a one-year extension for completing the first phase of the Otilovici small hydropower plant (SHPP) project near Pljevlja. The delay is due to the ongoing tender process for the facility’s design and construction. The first phase involves preparing the necessary technical documentation. The Otilovici SHPP will be built on
Montenegro: EPCG seeks one-year extension for Otilovici small hydropower plant project Read More »
Montenegrin state-owned power utility EPCG has confirmed that electricity prices will remain unchanged for the time being. As the ecological reconstruction of thermal power plant Pljevlja begins, a process expected to last until mid-November, EPCG has secured the necessary electricity imports to cover any shortfall during this period. Approximately 70 million euros have been allocated
Montenegro: EPCG confirms stable electricity prices amid TPP Pljevlja reconstruction Read More »
The Montenegrin Environmental Protection Agency (EPA) has announced that Vjetro Park Bijela, a subsidiary of Luxembourg-based renewables developer Alcazar Energy, has submitted a request for approval of an environmental impact assessment (EIA) for its 119 MW Bijela wind farm. The EIA covers the planned wind farm development in the northern municipality of Savnik, which will
Montenegro: Alcazar Energy submits EIA for 119 MW Bijela wind farm Read More »
Montenegrin fuel retailer Jugopetrol posted a net profit of 7 million euros in 2024, maintaining a similar performance as the previous year. The company’s net sales grew by 1.1%, reaching 255.5 million euros, while its operating expenditures increased by 0.7%, totaling 243 million euros. At the close of 2024, Jugopetrol’s total assets stood at 126.8
Montenegro: Jugopetrol maintains steady profit in 2024 despite slight asset decline Read More »
