Electricity

BELEN selects Nord Pool as partner to establish Montenegrin day-ahead power market

Photo: Pixabay

Published

March 29, 2019

Country

Comments

0

Share

Published:

March 29, 2019

Country:

Comments:

0

Share

Berza Električne Energije (BELEN), the power exchange company of Montenegro, has selected Nord Pool as a partner to create the first competitive Montenegrin day-ahead power market, which is expected to be operational in 2020.

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, BELEN (Montenegrin Power Exchange – MEPX), said on its website.

It is planned that the new Montenegrin day-ahead power market will become operational in early 2020. According to BELEN, the two parties also intend to extend the cooperation to include Nord Pool becoming a shareholder of BELEN.

BELEN and Nord Pool, chosen after an open competition, have committed themselves to the development of a transparent and efficient power market, enabling Montenegro to couple with neighboring countries according to the European Internal Energy Market (IEM) standards, BELEN said.

“We are very proud to announce that we have successfully completed the competitive request for offer procedure to identify the best possible strategic partnership model for BELEN and for Montenegro. This was made possible with the help of the Energy Community Secretariat and Technical Assistance to Connectivity in the Western Balkans and we would like to thank them for their support throughout the entire process,” said Dejan Drašković, CEO of BELEN.

He said that BELEN reached out to the best in this business to help them develop the Montenegrin power market.

“In the end we will be closely cooperating with Nord Pool, the European leader in power trading,” Drašković added.

Kari Ekelund Thorud, CEO of Nord Pool, said that the company is committed to supporting the opening of power markets that is currently taking place in South-East Europe.

“To develop a liquid, and, more importantly, competitive market in Montenegro is key to establishing the country as a gateway between the Balkan region and Europe, through the undersea cable to Italy. This will ensure that Montenegro plays a vital role in moving the whole SEE power market closer to the EU internal market,” she said.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

unpaid-electricty-bills-kosovo-kostt

Kosovo* allocates EUR 40 million to cover unpaid electricity bills in northern municipalities

11 August 2022 - Residents of the four Serb-majority municipalities in the north of Kosovo* have not been paying electricity bills for over two decades

SEEPEX chief Power prices Southeastern Europe EUR 500 MWh fourth quarter

SEEPEX chief: Power prices in Southeastern Europe reach EUR 500 per MWh for Q4 2022

11 August 2022 - Futures for settlement in the fourth quarter indicate an electricity price in Southeastern Europe of EUR 500 per MWh, chief of SEEPEX Miloš Mladenović said

Drought-lowers-hydropower-plant-output-Serbia-Europe

Drought lowers hydropower plant output in Serbia, Europe

10 August 2022 - The water flow in Serbia's hydropower system dropped by a half, increasing the need for electricity imports, but the situation is similar across Europe

Norway power export controls drought hydropower reservoirs

Norway to impose power export controls

09 August 2022 - Norway is preparing a framework for limiting electricity exports at times when the levels of water in hydropower accumulations are low