Montenegro’s EPCG joins day-ahead power market on SEEPEX exchange in Serbia

Montenegro’s state-owned power utility Elektroprivreda Crne Gore (EPCG) said it completed the first transaction at Serbian power exchange SEEPEX and that it would primarily sell the output from its Piva hydropower plant.

EPCG d.o.o., a firm registered in Belgrade, joined the organized power market in Serbia. Its owner, Montenegro’s government-controlled Elektroprivreda Crne Gore or EPCG said the first transaction on the SEEPEX exchange has been completed and that it can now directly sell its surplus electricity or make purchases to cover any shortfall.

The utility noted it is a day-ahead market and added that the access enables it to better utilize its output, primarily the electricity produced in its Piva hydropower plant. From now on, electricity can be sold at best possible prices or the most expensive profiles, the statement adds.

“This way we are gradually entering direct trading in foreign markets and the next step will be to register a company at some of the exchanges in EU member states. So far we used partner firms for such services,” EPCG pointed out.

SEEPEX is the licensed operator for the organized power market in Serbia. The firm is jointly owned by the country’s transmission system operator Elektromreža Srbije (EMS) and European power exchange EPEX Spot.