According to the latest Eurostat data for 2024, electricity prices in Montenegro are among the lowest in Europe, at just 0.0997 EUR per kilowatt-hour (kWh). This is nearly three times lower than the European Union average of 0.2889 EUR/kWh. Montenegro’s low electricity cost places it alongside countries like Ukraine, Kosovo, Serbia, and Albania, which also have some of the cheapest electricity in the region.
In contrast, countries such as Ireland, Denmark, Belgium, Germany, Italy, and Sweden face much higher prices, with Denmark reaching as high as 0.3788 EUR/kWh. The Eurozone average stands at 0.2954 EUR/kWh.
While electricity prices soared during the 2022-2023 energy crisis across Europe due to supply disruptions, inflation, increased CO₂ costs, and investments in renewables, Montenegro’s prices remained stable, hovering around 0.09 to 0.10 EUR/kWh. This stability results from state control over the energy sector, a small market, and reliance on hydroelectric power.
However, concerns remain about the long-term sustainability of these low prices, especially considering EU market liberalization rules and climate goals. The low costs may hinder investments in grid modernization, renewable energy, and energy efficiency.
In neighboring countries, electricity prices vary widely: Bosnia and Herzegovina (0.0853 EUR/kWh), North Macedonia (0.1038 EUR/kWh), Serbia (0.1082 EUR/kWh), while Croatia’s prices are close to the EU average (0.2844 EUR/kWh).
Ultimately, while Montenegro’s electricity bills are currently among the lowest in Europe, the country faces challenges in maintaining this advantage amid evolving energy policies, ecological upgrades, and climate uncertainties.
