Niksic, (MINA-BUSINESS) – Elektroprivreda (EPCG) reported a net profit of €36.47 million in the first quarter of this year, a 257 percent increase compared with the same period last year.

“The strong growth in financial results was achieved thanks to stable and increased electricity production, the successful operation of the Pljevlja Thermal Power Plant (TPP), very favourable hydrological conditions, as well as improved operational efficiency and the reduction of operating costs,” the company said in a press release.

EPCG’s total revenues in the first three months of this year amounted to €143.46 million, while operating profit reached €36.84 million, nearly 290 percent more compared with the same period last year.

In the same period, operating expenses were reduced by almost €13 million, further confirming business stability and efficient cost management.

Total electricity output in the first quarter reached 1,200 gigawatt-hours (GWh), or 49 percent above plan. 

“The achieved results confirm that EPCG continues to be one of the key pillars of Montenegro’s energy system and economic development, with a clear focus on stability, sustainability, investments, and the long-term responsible management of the country’s energy resources,” the press release concluded.