Montenegrin power exchange (MEPX) operator Berza Električne Energije (BELEN), the European Power Exchange – EPEX SPOT, and Slovenian power exchange BSP SouthPool have signed a service agreement for the creation of the day-ahead power market at the MEPX.
After a few years of unsuccessful tenders and negotiations with interested companies, MEPX has finally managed to find a partner. Albania, Kosovo*, Montenegro, and North Macedonia, contracting parties of the Energy Community, have been trying to establish power exchanges for several years, and now one of them has made a breakthrough.
BELEN, EPEX SPOT, and BSP SouthPool have committed to developing a transparent and efficient power market, enabling Montenegro to couple with neighbouring countries according to the European Internal Energy Market (IEM) standards, MEPX said in a press release.
BELEN’s plan is to initiate coupling with neighbouring markets from the very beginning of the day-ahead market operation
The cooperation will include establishing processes and procedures required to operate a national day-ahead market in Montenegro, market coupling, and day-ahead clearing and settlement processes. BELEN said that the Montenegrin day-ahead power market (DAM) is planned to become operational in the second half of 2022.
BELEN plans to initiate coupling with neighbouring markets from the beginning of the day-ahead market operation to enhance regional electricity market integration and ensure a robust price signal.
Medojević: MEPX’s goal is to implement market coupling with at least one neighbouring country
Matija Medojević, CEO of MEPX, said its goals include electricity market coupling with at least one neighbouring country, along with a later establishment of intraday and futures markets.
“EPEX SPOT is pleased about this new service agreement which will enable our partners to benefit from the proven trading and clearing solutions provided by EPEX SPOT,” said Juan Perez, Director of Strategy of EPEX SPOT.
In March 2019, BELEN selected Nord Pool to establish a day-ahead electricity market in Montenegro, but negotiations were apparently unsuccessful.