Montenegrin state-controlled power utility Elektroprivreda
Crne Gore (EPCG) said on Wednesday its net profit fell 3.6% on the year to 13.4
million euro ($15 million) in the first quarter of 2015.
Operating
revenues edged up 1.9% on the year to 65.7 million euro through March as
operating costs dropped 5.1% to 51.8 million euro, EPCG said in a financial
report.
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. The company's net profit rose 38% to 34.7
million euro in 2014.