Montenegro aims to shut down the Pljevlja coal power plant by 2041 as part of its draft National Energy and Climate Plan (NECP).
The plan was submitted by the Ministry of Energy to the Energy Community Secretariat for review.
Minister of Energy Saša Mujović stated that achieving the NECP goals would require EUR 1.1 billion, posing a significant financial burden. Given this, Montenegro is requesting a revision of its 2030 climate and energy targets to make them more attainable.
The country is committed to reducing greenhouse gas emissions by 55% by 2030, equating to a cut of 2,400 kilotons of CO2 equivalent. To meet this target, Montenegro will need to invest heavily in renewable energy plants, promote electric vehicles, modernize public transport, and introduce biofuels.
Mujović also indicated that electricity prices would rise to align with the EU average, starting at 16-17 euro cents per kWh by 2027. Currently, electricity costs around 10 euro cents per kWh, with the government planning subsidies for vulnerable groups.
Montenegro is also addressing the second cable of the submarine power link between Montenegro and Italy, which will increase capacity to 1,000 MW as part of the Trans-Balkan Electricity Corridor.