Montenegro, Electricity price to increase by 10 to 20 % in 2023

, SEE Energy News

The Regulatory Agency for Energy and Utilities (REGAGEN) will approve the increase in electricity distribution fees collected by CEDIS in 2023, which could lead to an increase of electricity price by 10 to 20 %.

The Montenegrin Chamber of Commerce proposed that the increase of electricity price for commercial consumers cannot be higher (in percentages) than the increase for residential consumers.

In order to determine the electricity distribution fee, REGAGEN uses the formula approved by the Energy Law, according to which the fee depends on the price of electricity on Hungarian HUPX exchange.

Power utility EPCG said that it does not yet have information on how much the distribution fee will be increased and has no influence on its calculation, but assured that it will not increase the base price of electricity, unless its operation is threatened due to ongoing energy crisis.

In addition, the Chamber of Commerce proposed to the Government to devise a new form of incentives mechanism for renewable energy projects, especially solar projects, considering that there is no possibility of obtaining the status of privileged producers, through the system of feed in tariffs.

However, EPCG believes that it has provided sufficient incentives so far, adding that further stimulation of investing in renewable sources and creating an attractive environment for such investments should not be done by EPCG, because that company can operate in that field on its own, so there is no need to stimulate competition.

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