Positive results and investment orientation

EPCG is celebrating its 105th birthday in an atmosphere of positive generation and financial results, with firm investment commitment, with the aim of constant improvement of the electric power system and providing even better and more advanced services to our customers.

Thanks to operating readiness and safe operation of generating facilities, as well as to the efforts made by employees, EPCG generating facilities have recorded positive results in this year. 1.753,165 MWh were generated during seven months, what is 81.187 MWh more relative to the same period of 2014.

Cca €35 million is the amount of profit generated last year, i.e. €9.6 million more than in 2013, while electricity losses in 2014 were reduced to 16.83% - 2.3% less relative to the preceding year. Shareholders were paid funds proportionately to their share in the Company’s capital. According to the analysis, operating results generated during the first semester of this year have exceeded those from the comparative period of last year, so that accomplishment of positive generating and financial results is expected to be continued. 

This year is also the year of capital investments into the distribution system of Montenegro. The newly-built SS 35/10 kV ‘Petrovac’ was introduced in the system, and the project of installing the new, sub-marine 35 kV cable ‘Opatovo – Sv. Neđelja’ was completed. Construction of SS 35/10 kV ‘Popovići’ has started in Bar, and works on the construction of SS 35/10 kV ‘Klinci’ in Herceg Noci will start soon. These investments are worth more than five million Euros. Construction of numerous 10/0.4 kV substations comes at the end of a successful momentum investing.

On March 1st, Elektroprivreda Crne Gore has started to implement the second phase of the AMM Project worth €36 million. Therefore, another 80 thousand of new multi-functional meters will be installed within next two years. EPCG has started implementing this project in 2011, and around 165,500 of new, multi-functional meters were installed during the first project phase that cost €40 million, as a result of which cca 43% of the Montenegrin consumption was included in this modern technology of a remote metering.

Over past several years EPCG has invested tens of millions of Euros into construction of distribution facilities and distribution network in several Montenegrin municipalities, so as to ensure the power system stability and loss reduction. There is a considerable amount of funds appropriated annually for maintenance of cca four thousand of transformer stations and more than twenty thousand of kilometres of overhead and cable lines.

This year is successful in terms of collection of receivables based on electricity consumption. The amount of the total debt for electricity consumption has recorded a continuous and discreet downward trend thanks to organization of a series of campaigns (GOLDEN TEAM, FIVE for FIVE, SHARE THE BURDEN III), that have resulted in repayment of debt under favourable conditions as well as in savings made by customers who settle their liabilities towards our Company on a regular basis. As many as 152,639 customers received July bill reduced by the amount of a discount granted to regular payers, i.e. 43% of Montenegrin households pay for electricity consumption at the price reduced by 5-10% because they settle liabilities towards our Company in a timely manner. From September onwards our customers can expect additional benefits included in the campaign ‘Share the Burden III’.  

Our customers can obtain information about the above-mentioned as well as about many other campaigns, services and benefits via the modern Call Centre (19100) that has been launched in February of this year in order to improve our customer service and customer relations.

Elektroprivreda Crne Gore currently employs 2,315 workers.