The Pljevlja thermal power plant will not work for eight months next year due to the completion of its reconstruction, as a result of which the coal mine will also lose its main source of income during that period and have 48 million euros less income, the company told "Vijesta".
Rudnik states that they were active in order to find other buyers during that period, as well as that financing will be provided for the company, from which they expect support within the business group Elektroprivreda (EPCG), which is their 100% owner.
Last year, the mine had a total income of 70 million euros, of which more than ten million was obtained from the sale of coal to Elektroprivreda Srbije, but that business was later terminated.
Business expenses last year amounted to 31,1 million euros (procurement of raw materials, fuel, investments, depreciation...), while 26,5 million euros were spent on the payment of gross wages and other employee expenses.
The coal mine made a net profit of 15,2 million euros last year, but did not distribute a dividend precisely because it faces a difficult year in 2025. EPCG also had a net profit of 52,4 million euros, but it too did not share a dividend precisely because, due to the break in the operation of the TE, it will have to turn from a large exporter into an importer of electricity.
"It is planned that the environmental reconstruction of the Pljevlja Thermal Power Plant will last eight months and will cause the suspension of coal delivery, which will result in about 48 million euros less on the revenue side of the Coal Mine. We must certainly look at this problem from the level of the EPCG group and solve it in the same way. stable financing of the Coal Mine will be ensured during that period. In that period, RUP will activate sales for mass consumption, with maximum capacity, and try to achieve as much income as possible and reduce the negative balance during the ecological econstruction period of the Pljevlja Thermal Power Plant", said the company to the questions of "Vijesti "how the announced break in the operation of the Pljevlja Thermal Power Plant during the next year will affect the work and business of the Coal Mine and whether they will be able to pay all the obligations and wages to the employees during that period.
Executive Director of EPCG Ivan Bulatović he recently said in an interview with "Vijesti" that due to the overhaul and break in the operation of the TPP next year, electricity imports will be needed, which at current prices would be worth 65 million euros.
"I appreciate that all relevant actors should bear in mind the seriousness of the challenges that EPCG will face next year, especially in the context of the need to procure a larger amount of electricity. Bearing in mind all obligations based on the procurement of a significant amount of imported electricity for the next year, I think it is not realistic to expect that the entire profit will be allocated to the state budget on the basis stated," said Bulatović at the time, explaining the request to the Government to grant them not to pay a dividend.
The break in the operation of the Rudnik Thermal Power Plant will also be used to intensify the project of relocating the Ćehotina river, as well as removing the overburden - the layer of soil and stones that is located above the coal deposits and that must be removed in order for the coal to be mined.
"Works on the relocation of the bed of the Ćehotina river have already begun, so far the mechanization of the Coal Mine has completed most of the excavation of the new bed of the Ćehotina river, which will lead to significant savings compared to the projected price and time of completion of the works. Soon we will also start the tender procedures for other works on this project, the estimated value of which is around 20 million euros, on the other hand, the overburden works will be carried out without interruption," said Rudnik "Vijesta".
The break in work will also affect lower GDP growth
Thermal power plant Pljavlja is the largest export company in Montenegro, so a break in its work next year will worsen the already large Montenegrin deficit in foreign trade. As the import-export deficit is part of the gross domestic product, it will also affect lower economic growth. Last year, the export of electricity amounted to 206 million euros and was at the level of almost 30 percent of all exports. Now there will be no exports, but there will be imports of an estimated 65 million euros.
After reconstruction, TE will be able to use only higher quality coal
When the ecological reconstruction of the Thermal Power Plant is completed, it will be able to use only better quality coal in future work, which is why "Vijesti" asked what the Mine will do with the other, worse part of the coal.
"We cannot give a precise answer about the percentage of high-quality coal after ecological reconstruction at this moment due to the dynamics of exploitation in the coming period (until March 1, 2025). However, we emphasize that, after ecological reconstruction, these coals will be homogenized, and in this way we will get coal, in terms of quality and quantity, that meets the required parameters necessary for the stable operation of the Pljevlja Thermal Power Plant", they stated from Rudnik.
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