Private company

Elektroprivreda Crne Gore

Logo: epcg.com3

Elektroprivreda Crne Gore AD is an integrated electricity company located in Niksić, Montenegro. The company is listed at Montenegro Stock Exchange with majority of shares owned by the government. Rest of the shares are traded at the Montenegro Stock Exchange.2 It was founded in 1910.1 It employed 1,031 people.1 Its revenue was €324 million in 2019.1 It is part of Cabinet of Montenegro.1 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

Aug 19, 1910Founded1
  • Industryelectric power industry1
  • HeadquartersNikšić1
  • Websitewww.epcg.com
  • Legal formjoint-stock company1
  • Listed onMontenegro Stock Exchange (EPCG)1

Elektroprivreda Crne Gore AD is an integrated electricity company located in Niksić, Montenegro. The company is listed at Montenegro Stock Exchange with majority of shares owned by the government. Rest of the shares are traded at the Montenegro Stock Exchange.2

The story

The electrification of Montenegro began in the first decade of the 20th century. The debt tradition has begun for almost a century after only 28 years since the construction of the world's first electric power plant, which was built by famous American inventor T. A. Edison in New York. With that, Montenegro was ranked in the line, at that time, of rare European and world countries whose towns were illuminated by electricity.

Everything started on August 19, 1910, when, in connection with the crowning of Nikola I Petrović, in Cetinje, the first electric power station in Montenegro was put into operation. In today's context, it was a mini power plant, with two diesel engines, power of 110 kW. Over the years, power has doubled to 220 kW. The power plant served to illuminate Cetinje Royal Palace, Zetski dom, the main street of the city, and several houses of the more prominent Montenegrins. It has become the basis for the development of one of the most important economic entities in Montenegro, Elektroprivreda Crne Gore. The power plant worked for 50 years, 450,000 hours continuously - 12 years without malfunction. It was erected and equipped, then, by the renowned firm Emanuel Kraus from Trieste. The building and facilities of the "Montenegrin Electric Company", as originally called the Cetinje power plant, are preserved and, because of their exceptional importance, they were placed under the protection of the Law as a cultural monument, in order to be transformed into the EPCG museum on November 13, 1976, with a proposal to grow in the Technical Museum of Montenegro. The date of commissioning of the electric power station, August 19, is celebrated as the day EPCG AD Niksic.

Shortly after the commissioning of the Cetinje mini-power plant, other power plants started to open in Montenegro, and other towns and citizens in Montenegro started to enjoy the advantages of electricity brought by them - Bar in 1913, Kotor in 1916, Herceg Novi in 1925, Podgorica and Niksic in 1927, Risan in 1928, Kolasin in 1929, Ulcinj in 1930, Zelenika in 1935, Perast in 1936, in Pljevlja in 1937, in Tivat in 1939 and so in a row.

From Wikipedia’s article on Elektroprivreda Crne Gore, shared under CC BY-SA 4.0.4

Products and brands

  • electrical energy

Listed on Wikidata.1

Thermal power plant

Commissioned in 1982, Pljevlja Power Station was designed as the first unit of a broader development plan that was never fully implemented. The generator has a capacity of 225 MW, and the facility uses lignite supplied from the nearby Pljevlja Coal Mine. Over the decades, the power station has undergone several phases of revitalization aimed at maintaining operational reliability and improving boiler efficiency under changing market conditions.

Electric network

In addition to the production facilities, Elektroprivreda Crne Gore has built a significant electrical network of various voltage levels with transmission lines, substations and other facilities, as well as a diluted distribution network in all populated areas of Montenegro. The distribution and transmission network followed the development and improvement of production facilities.

From Wikipedia’s article on Elektroprivreda Crne Gore, shared under CC BY-SA 4.0.4

Subsidiaries and ownership

Parent company

  • Cabinet of Montenegro

From Wikidata.1

Revenue over time

As stated on Wikidata, in the currency reported.

Revenue

  • 2019323.6M EUR1

Net income

  • 201928.3M EUR1

Timeline

  1. Aug 19, 1910Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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