Berza Elektricne Energije (BELEN), a Montenegrin company in charge of the future MEPX energy exchange, the European Power Exchange EPEX SPOT and Slovenian BSP SouthPool have signed a service agreement whose implementation will result in creation of the competitive Montenegrin day-ahead electricity market (DAM).
All the parties have committed to the development of a transparent and efficient electricity market, enabling Montenegro to couple with neighboring countries according to the European Internal Energy Market (IEM) standards. The cooperation will include support to establish processes and procedures required to operate a national day- ahead market in Montenegro, market coupling with neighboring countries and day-ahead clearing and settlement processes. It is planned that the new Montenegrin DAM will become operational in the second half of 2022.
BELEN CEO Matija Medojevic said that, besides the establishment and start of operation of an organized day-ahead market in Montenegro, MEPX’s goals include electricity market coupling with at least one neighboring country, along with a later establishment of an intraday and futures market. In addition to this, MEPX aims at creating new business opportunities for market participants and ensuring better efficiency, more competitive prices and greater security, quality and standard of services.
In July 2017, CEOs of Montenegrin power utility EPCG, electricity market operator COTEE and electricity transmission system operator CGES have signed the founding agreement and the statute of Berza Elektricne Energije (BELEN), the company that will operate the future Montenegrin electricity exchange (MEPX).
In March 2019, BELEN selected Nord Pool as strategic partner for the establishment of day- ahead market. The cooperation will include support to establish processes and procedures required to operate a national day-ahead market in Montenegro, market coupling with neighboring countries and day-ahead clearing and settlement processes.
