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Montenegro, EPCG will bear additional costs in the amount of 4.5 million euros in order to keep electricity prices for residential consumer unchanged

20.Jan 2022.

Montenegrin state-owned power utility EPCG said that it will bear additional costs in the amount of 4.5 million euros in order to keep electricity prices for residential consumer unchanged during the first half of 2022.

The statement from the company said that the Board of Directors decided to grand a discount of 12.5 % on electricity bills for all residential
consumers in Montenegro in the first half of the year.

In addition, EPCG will offer additional 10 % discount to residential consumers in the town of Pljevlja, where Montenegro’s sole coal-fired
thermal power plant is located. This discount will be applicable only in the first quarter of 2022.

EPCG CEO Nikola Rovcanin said earlier the company expects much better financial results in 2021, compared to those achieved in 2020. EPCG recorded a net profit in the amount of 16.2 million euros in 2020, while its revenues reached 312 million euros.