EPCG does not rule out a power price rise in Montenegro: it imports at €300/MWh and sells to households at €45/MWh
The executive director of Elektroprivreda Crne Gore says an electricity price increase is possible, but not overnight and only after analyses, including of the impact of the “Euro model” announced from 1 January. The company sells power to the public at €45/MWh, while imports cost it €300/MWh.
EuroEnergy Newsroom · 
Montenegro · 2 min read
Elektroprivreda Crne Gore (EPCG), Montenegro’s main electricity producer and supplier, does not rule out an increase in the power price, the company’s executive director Nikola Madžgalj said on 9 November, according to public broadcaster RTCG and the CdM and Dan portals. “The possibility of an electricity price increase exists,” he said, adding that any change would not be decided overnight and would be preceded by analyses.
The figures. “When we import electricity at 300 euros per megawatt-hour, it is sold to citizens for 45 euros,” Madžgalj said. According to him, if EPCG followed the exchange and market prices, “only then would citizens feel a real price increase.” The director estimated that even if changes came, they would not greatly affect the size of bills, given the price increases of the past ten years.
The Euro model. Madžgalj said the “Euro model” announced from 1 January will be reflected in EPCG’s financial situation and that its effects will be analysed. It is a government wage and tax reform which, according to the Investitor portal, provides for minimum net wages of 1,000, 1,250 and 1,400 euros depending on education level and the removal of pension contributions paid by employees, with application planned from January 2027 if the legal amendments are adopted.
Own generation. According to the director, the projects the company has and is developing – solar plants, wind farms and ensuring long and continuous operation of the thermal power plant – will allow EPCG to set the electricity price itself. Any change, he said, must be made “in a planned, stable way and in agreement with citizens.”
Context. Eurostat data show that in the first half of 2026 Montenegro had the third-lowest electricity price for non-household consumers with annual consumption of 500–2,000 MWh among the 38 European countries analysed: 8.92 euro cents per kWh, excluding VAT.
Real-time data for the country are on the country page
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