The Montenegro electricity sector will continue efforts to modernize and innovate through a $35.7 million project financed by the European Bank for Reconstruction and Development (EBRD) in which 85 percent of consumers benefit from smart meters.

“Montenegro’s electricity sector is already one of the most modern in Europe,” Harry Boyd-Carpenter EBRD director for power and energy, said in a press release. “It is not a coincidence that the country also has the highest amount of EBRD financing per capita in all of our region. … We are delighted to work again with [Elektroprivreda Crne Gore (EPCG)], which has achieved the remarkable transformation of Montenegro's electricity distribution network, reducing losses and improving the quality of supply for all consumers.”

The project will work with Crnogorski elektrodistributivni system (CEDIS), Montenegro’s electricity distribution company, an EPCG subsidiary. In addition to procuring 60,000 smart meters, it will also allow CEDIS to modernize its infrastructure and install a modern energy management system (EMS), all of which brings Montenegro closer in line with European Union targets as the country works to join the union.

“Besides the fact that the electricity metering project is placing Montenegro among the leading countries that are transitioning towards smart grid networks, completion of this project is also bringing additional value by investing significant resources in reconstruction of the low voltage distribution network with the aim to improve considerably quality of services to all customers,” CEDIS CEO Zoran Djukanovic said.