Montenegrin power utility EPCG turns to 9-mo net loss

Operating revenues rose 41.9% on the year to 184.2 million euro through September, while operating costs rose 70% to 207.8 million euro, EPCG said in a preliminary financial report filed with the Montenegrin bourse.

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

EPCG, which operates around 870 MW of installed capacity, plans a 5.8% decline in output this year to 2,976 GWh. The company's net profit dropped 69% to 10.8 million euro in 2015.

($ = 0.84566 euro)