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NewsMontenegro, Electricity price could increase by 6.5%

Montenegro, Electricity price could increase by 6.5%

Electricity could be 6.48% more expensive as of 1 January 2023, for households with two-tariff metering, according to the Regulatory Agency for Energy and Utilities. If such a price increase is approved, households with average electricity consumption will have their bills increased by €1.73. The final decision on electricity prices for 2023 will be made on 29 November.

The Agency states that these data refer to the current results of processing the requests of the Montenegrin Power Transmission System (CGES), the Montenegrin Electricity Distribution System (CEDIS) and the Montenegrin Electricity Market Operator (COTEE). For now, Montenegro’s power supplier, EPCG, has not requested an increase in electricity prices.

It’s pointed out that if there was no increase in the price of electricity on the wholesale market, the total bill for customers with average consumption from the household category with two-tariff metering would have decreased by 3.54% compared to 2022.

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“If during the period 2023-2025 CGES and CEDIS purchase electricity to cover losses in the system at a price lower than the price calculated on the basis of plans, corrections will be made in favor of the consumers”, the Agency has announced, CDM reports.

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