Trading on the Montenegrin Power Exchange (MEPX) should start late in the year, said Dragana Radulović, PR and technical secretary of Berza Električne Energije (BELEN).
In March last year, BELEN selected Nord Pool as a partner in establishing a day-ahead electricity market in Montenegro.
Negotiations with Nord Pool are near completion
Negotiations with Nord Pool are progressing and are nearly complete, so it is expected that all necessary strategic partnership agreements with the power trading company will be signed during the second quarter of this year, said Radulović, as quoted by bulletin Elektroprivreda, published by power utility Elektroprivreda Crne Gore.
Cooperation includes support for the establishment of a national day-ahead market
Cooperation includes support for the establishment of procedures necessary for the implementation of the day-ahead market in Montenegro, connecting the market with neighboring countries and clearing and financial settlement processes.
In parallel with the negotiations, regulatory framework changes were prepared
Radulović said that in parallel with the negotiations, the changes of the regulatory framework were prepared to allow power exchange to be established as a new energy entity.
The adoption of the changes to the Law on Energy are expected soon, and changes to the Law on Value-Added Tax are also planned. The purpose of the changes is to facilitate the financial procedures for the trading on the power exchange, said Radulović.
Companies have shown interest in participating in the power exchange, especially due to the fact that a submarine cable connected Montenegro with the EU market
A few days ago, the Montenegrin government adopted the draft Law on Energy.
Companies have shown interest in participating in the power exchange, especially due to the fact that a submarine cable has enabled the physical connection of the Montenegrin market with the European market, Radulović said.
The interest comes from traders who are already present in the region, but also from ones that never did business on this side of the Adriatic Sea. They are active in the region, but also in the whole of Europe.