At the latest government session, the Montenegrin Electricity Exchange (BELEN) was officially appointed as the Nominated Electricity Market Operator (NEMO).
This decision is based on the Energy Law, which mandates that the government, upon the proposal of the Ministry of Energy and Mining and with the prior opinion of the Regulatory Agency for Energy and Regulated Utilities, decide on the fulfilment of conditions for the appointment of a Nominated Electricity Market Operator.
This recognition marks a significant advancement for Montenegro’s energy sector and underscores BELEN’s dedication to enhancing the transparency and efficiency of the electricity market, BELEN stated.
The appointment of BELEN as NEMO opens numerous opportunities, including the connection of Montenegro’s organised electricity market with those of European Union (EU) countries, particularly with Italy. This move integrates Montenegro’s market into the single European day-ahead and intraday electricity markets.
It also paves the way for greater liquidity, transparency, and efficiency. Enhancing market transparency, increasing efficiency, and significantly improving the security of supply in Montenegro, establishing a regional wholesale electricity price, optimal allocation of available cross-zonal capacities, and more efficient integration of renewable energy sources into the electricity market are all based on transparent and non-discriminatory market principles, BELEN elaborated.
Regulatory compliance is also a key aspect, and BELEN noted that aligning with European energy regulations and standards strengthens market participants’ confidence.
