The Pljevlja Coal Mine (RUP) recorded a loss of 14.37 million euros in the first nine months of this year, according to the company’s financial report for the first three quarters. During the same period last year, RUP reported a profit of 3.33 million euros. Since August 2018, the Electric Power Company of Montenegro (EPCG) has been the sole shareholder and owner of the Pljevlja-based company.
The report notes that the business result after nine months was 1.28 million euros better than planned, with revenues 4.09 million euros lower than expected and expenses 5.37 million euros below plan.
Compared to the same period last year, revenues decreased by 21.49 million euros and expenses by 3.78 million euros, resulting in a performance decline of 17.7 million euros year-on-year.
A total of 503,426.16 tons of coal was produced in the first nine months of this year, which is 19.8 percent less than the planned 628,000 tons. Since the Pljevlja Thermal Power Plant (TPP Pljevlja) remained out of operation during the third quarter, production indicators for comparison with the same period of 2024 are not considered relevant, the report states.
The report recalls that the planned overhaul and reconstruction of TPP Pljevlja began on April 1 of this year and is still ongoing. As a result, coal deliveries for the power plant in the first nine months were limited to those from the first quarter, when 389,980.50 tons were delivered—3.7 percent below the plan of 405,000 tons and 58.8 percent, or 556,373.68 tons, less than in the same period last year.
The delivered coal (10,418 kJ/kg) had a calorific value 12 percent higher than the contracted quality (9,300 kJ/kg) and three percent higher than the average quality from the previous year (10,114 kJ/kg). These results demonstrate that despite challenging business conditions, the Pljevlja Coal Mine maintained the continuity of its core operations, fulfilled priority tasks, and ensured product quality exceeding contractual standards, the report states.
The company emphasized that business plans at the beginning of the year indicated that 2025 would be one of the most significant years in its history.
Activities carried out in the first half of 2025—such as the reconstruction of TPP Pljevlja and the redirection of the Ćehotina River—were further intensified during the third quarter to ensure the long-term stability of Montenegro’s energy system and the successful implementation of planned investments.
With the dedicated efforts of its employees in meeting production goals and a well-structured business strategy, the Pljevlja Coal Mine has placed particular importance on developing new and promising business directions. By monitoring market trends and demands, the company has opened opportunities for new activities while continuing to perform its core operations without compromise, the report concludes.
