Elektroprivreda Crne Gore reports 19 million euro profit in H1 2026

Elektroprivreda Crne Gore (EPCG) reported a significant financial recovery in the first half of 2026, achieving a consolidated net profit of 19.33 million euros. This marks a substantial turnaround from a loss of 30.50 million euros during the same period in 2025.

The company's improved performance is attributed to increased operational efficiency and a drastic reduction in operating costs, which fell to 134.6 million euros compared to 193.5 million euros in the previous year. Key drivers included a reduction in electricity purchases on the wholesale market, which dropped to 16.2 million euros from 62.4 million euros a year prior.

Energy production was bolstered by the trial operation of the Pljevlja Thermal Power Plant (TE Pljevlja) and favorable hydrological conditions, which led to increased output from hydroelectric plants such as HE Perućica and HE Piva. Despite a weaker second quarter due to lower-than-expected water inflows, total production remained strong.

Looking ahead, EPCG shareholders are scheduled to vote on October 27 regarding changes to the company's Statute and compensation policy, as well as the appointment of deputy general and executive directors.