Montenegro: Power utility EPCG reports net profit drop in 1H 2015

, SEE Energy News

The company’s net profit rose 38% to 34.7 million euro in 2014. Power utility Elektroprivreda Crne Gore (EPCG) said its net profit fell 14% to 11.8 million euro in the first half of 2015.

Operating income decreased to 118.2 million euro in the first half from 118.6 million euro a year ago, while operating costs edged down 0.2% to 107.5 million euro, EPCG said in an income statement filed with the Montenegro Stock Exchange.

The Montenegrin government is the majority owner of EPCG with a 57% stake while Italian company A2A owns 41.75%.

EPCG, which plans to raise output to 3,159 GWh this year from 3,036 GWh in 2014, operates around 870 MW of installed generation capacity.

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