Electricity

UPDATE: Montenegro’s MEPX to start trading electricity by the end of this year

MEPEX to start trade electricity by the end of this year

Photo: Pixabay

Published

January 29, 2018

Country

Comments

comments icon

0

Share

Published:

January 29, 2018

Country:

Comments:

comments icon

0

Share

Trading at the Montenegrin Power Exchange (MEPX) should begin by the end of this year when a strategic partner is found and an operational process is implemented. The Power Exchange was established last year as a project company.

The start of trading on MEPX is expected once a strategic partner is found, the one who will initially help implement the operational process, new technical solutions, IT technologies, etc. Consultations are underway as well as work on the necessary documentation with the help of the European Community Secretariat, said MEPX technical director, Dejan Drašković in an interview with Dnevne novine.

Elektroprivreda Crne Gore (EPCG), national power utility company of Montenegro, Montenegro Electricity Market Operator (COTEE) and Montenegrin Power Transmission System (CGES) signed in June, 2017, an agreement on, as EPCG quoted, establishing Montenegro power exchange and the power exchange’s statute.

At that time, Milan Radović, Chief Executive Officer of COTEE said that there were over 50 electricity traders in Montenegro, the number of which is going to increase upon establishment of Electricity Exchange Company.

The market will be anonymous, nobody will know who is trading with so there will be no influence on price. The price itself will be realistic at any given moment, Drašković said. Reporting on trading volumes will be on a daily basis. MEPX will be open to both existing and future suppliers.

Participation at the Electric Power Exchange in Montenegro is not obligatory, although interest is significant and it has even been growing in anticipation of the expected launch of the submarine cable between Montenegro and Italy, Drašković said for Dnevne novine.

Regional cooperation

MEPX will market-couple with one of the exchange markets in the region. According to Drašković, good cooperation has already been established with the Serbian, Croatian and Bulgarian markets as well as with the Italian company Gestore dei Servizi Energetici. Contact with the Albanian exchange market also announced to become operational this year, has been established as well.

At the Western Balkans summit in Vienna, held in August 2016, it was decided that the Western Balkans countries will establish a regional energy market through national energy exchanges, which will eventually be integrated into the European single market.

So far, in the broader region Serbia, Croatia, and Slovenia established electricity exchanges, while Bosnia and Herzegovina has announced plans for the establishment of national energy exchange.

Tags: , ,
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

Horius exclusive distributor PupinEnergy chargers Serbia

Horius becomes exclusive distributor of PupinEnergy chargers for Serbia

25 April 2025 - Horius signed an exclusive agreement and became the authorized distributor of PupinEnergy AC electric vehicle chargers in Serbia

romania ccgt power plants entso mintia burduja

Romania’s plan to install 2.15 GW of gas power plants isn’t viable

25 April 2025 - The evaluation is part of ENTSO-E’s annual assessment of Europe’s security of electricity supply for the ten years ahead

Project Albania first gas power plant enters next stage

Project for first gas power plant in Albania enters next stage

25 April 2025 - Greece-based GEK Terna and DEPA Commercial are preparing to build the first gas power plant in Albania, with local partner Gener 2

catl Naxtra Battery sodium ion lithium

CATL: World’s first mass-produced sodium ion battery is here

25 April 2025 - Naxtra breaks resource constraints and strengthens the foundation of the new energy industry, according to CATL