€17.1M NET PROFIT IN SIX MONTHS

Elektroprivreda Crne Gore has made the net results of €17.1 million in the first six months of 2021 which exceeds the average results obtained in the same period of preceding years.

Between 1st of January and 30th of June 2021, EPCG has made the sales profit of €170.9 million which is by 16% or €23.8 million more in comparison to the previous year. The operating costs reached €151.4 million during the same period,

The first quarter of 2021 saw extremely favourable hydrology and good operational readiness of the generating plants which contributed to a significantly higher six-month generation results achieved by the large hydropower plants as compared to the planned values and average generation realised in the past years.

The cumulative data reveal that, over the course of the six months of 2021, 1 697 GWh of electricity has been generated, i.e. 14% more than planned; the distribution (net) generation in the same period was by 6% higher than last year, while the consumption of the direct customers dropped by 38%. In the half-year time, EPCG exported 729 GWh of electricity valued at €44.1 million and imported 377 GWh whereof value amounts to cca €23.7million.

Operating costs for the first two quarters amounted to € 151.4 mil, whereof € 45.5 mil referred to the use of network capacities, € 23.7 mil to electricity import costs, € 22.6 mil to the costs of electricity purchase from privilleged generators from renewable energy sources, € 13.9 mil to the coal consumption for the needs of TPP Pljevlja, while the rest referred to the costs of depreciation, earnings, materials, services, taxes and provisions.

Notwithstanding the impact of the crisis caused by COVID 19 pandemic, the Company`s investment cycle is being carried out in line with the planned time schedules. Great efforts are being made towards effciency increase, optimization and cost reduction.

Furthermore, EPCG takes all necessary measures to ensure, in such circumstances, safe electricity supply to all customers and to maintain stability of the national electric power system.