Minister of Energy, Saša Mujović, announced that electricity prices in Montenegro will not rise on January 1, 2024, in the part controlled by Elektroprivreda (EPCG) and the government. However, there could be an increase in bills related to the regulatory revenues of the Montenegrin electricity distribution (CEDIS) and transmission systems (CGES), which will be decided by the Regulatory Agency for Energy (REGAGEN) on November 18. If approved, the increase would likely be around 3%, or about €1 more per average monthly bill of €30.
Mujović explained that while electricity is still considered a social category in Montenegro, the country’s energy pricing will eventually align with EU market standards upon its accession. Currently, the price is 10 cents per kWh, significantly lower than the EU average of 27 cents per kWh. As Montenegro prepares for EU integration, it will be required to gradually raise electricity prices to bring them closer to market rates by January 1, 2027. This change will be implemented gradually, with compensatory measures such as dynamic pricing, which will help consumers manage costs by indicating when electricity prices are lowest during the day.
Additionally, Mujović highlighted the challenges facing Montenegro’s energy sector in 2024, particularly due to the ecological reconstruction of the Pljevlja Thermal Power Plant, which will result in a shortfall of 600 to 800 GWh of electricity. The government plans to procure this additional energy, but the cost will depend on various factors such as hydrology, market prices, and the success of solar energy projects.
Regarding Solar Construction, Mujović clarified his decision not to demand the resignation of the board of directors after the dismissal of former director Valerija Saveljić. He explained that the board acted within its rights and that he decided to give them another chance after hearing their reasoning. Solar Construction’s profitability hinges on installing 2.5 MW of solar panels monthly, and Saveljić’s decision to reduce the quota to 1.4 MW earlier this year was a key issue.
Finally, Mujović responded to criticisms of the energy sector’s management and dismissed claims that he had been influenced by political leaders in his decision-making process. He emphasized the importance of maximizing solar energy installations and ensuring the success of energy transition projects in the coming months.
