EPCG joining SEEPEX later this year just the first step in further integration with other power markets

Photo: Pixabay


May 5, 2017


comments icon




May 5, 2017


comments icon



Elektroprivreda Crne Gore (EPCG), national power utility company of Montenegro is currently preparing paper work to become member of SEEPEX, licensed Serbian power market operator. CEO of SEEPEX Miloš Mladenović sees this move as mutually beneficial, one which will provide EPCG with safe and stable energy trading platform, along with increased regional presence and improved portfolio.

Win-win deal

Mladenović said: “I think both sides will gain, and SEEPEX will get one reliable and important participant. Merger of Serbian and Montenegrin energy market areas will be the best way to achieve long-term liquidity”.

He also underlined that Western Balkans energy markets are relatively small, and it is therefore important to assess how to make them economically profitable.  “This merger also sends important political signal that in this region, where divisions happen quite often, we can have energy market integration that is beneficial for all participants”.

SEEPEX’s future plans

SEEPEX has ambitious plans: according to Mladenović, first phase will hopefully be creation of Serbian-Montenegrin strategic partnership, while second phase will be planned merger with energy markets of Hungary, Czech Republic, Slovakia and Romania (4MMC). “We sent the letter of intent in May 2016, and we expect their answer in second quarter of this year. It would be a giant step forward, because it would add liquidity to both 4MMC and SEEPEX”. SEEPEX is already technically prepared to launch that project.

“Third phase would include merger of Serbian-Montenegrin market with Italian organized market, and that will be possible when high-voltage cable between Montenegro and Italy is put to work, which is planned to happen next year”, said Mladenović. Fourth phase would be merger with organized markets of Croatia, Bulgaria and Albania.

SEEPEX COO  Dejan Stojčevski said that formation of this market is very important for citizens and companies, but also for prospective investors because they will be able to see and learn about the price of electricity, which is essential for their future plans. Currently, SEEPEX members are national power utility companies of Serbia, Croatia, Republic of Srpska and Hungary. It is expected that they will be joined by FYR of Macedonia.

SEEPEX was formed as joint investment of Serbian transmission system operator Elektromreža Srbije (EMS), and European energy market operator EPEX SPOT. Its mission is to provide transparent and reliable mechanism to form wholesale price of  electricity by pairing supply and demand with fair and transparent price, along with assurance that all transactions on this market will be realized and paid for.

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

fiat grande panda stellantis serbia electric cars automobiles

Stellantis starts producing electric cars in Serbia

22 July 2024 - With the announced state subsidies, Fiat Grande Panda from the Kragujevac plant could cost around EUR 18,000

eds ceo biljana komnenic elektrodistribucija srbije

Biljana Komnenić takes helm of Serbia’s DSO

22 July 2024 - The Government of Serbia has dismissed the acting director of distribution system operator Elektrodistribucija Srbije, Bojan Atlagić

serbia dso eib loan smart meters elektrodistribucija srbije dubravka de groot

Serbia secures EUR 80 million to replace 400,000 smart electricity meters

22 July 2024 - Distribution system operator Elektrodistribucija Srbije and the European Investment Bank have signed an EUR 80 million loan agreement

Romania-ambitious energy storage plans 5 GW by end 2026

Romania’s ambitious energy storage plans: 5 GW by end-2026

18 July 2024 - These ambitious energy storage targets are aligned with transmission system operator Transelectrica’s recommendations and analyses