Electricity

Montenegro gets its power exchange, another step towards regional market

Photo: Pixabay

Published

June 22, 2017

Country

Comments

0

Share

Published:

June 22, 2017

Country:

Comments:

0

Share

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

The Minister of Economy of Montenegro Dragica Sekulić said that the establishment of the power exchange creates conditions for more competitive electricity market.  She said that this means the same conditions for all companies involved in power trade. The opening of the market for the competition will bring also benefits to citizens, including lower retail prices, Sekulić added.

CGES CEO Ivan Bulatović said that the signing of the power exchange agreement is an important step towards establishment of regional power exchange.

EPCG CEO Tonino Maljo said that one of the goals is to cooperate with power companies in the region, while his COTEE colleague Milan Radović said that conditions are now made for expanding trade beyond Montenegro’s borders.

“We have over 50 power trading companies in Montenegro, and with established power exchange this number is to increase”, Radović said.

The Government of Montenegro adopted in early November 2016 a plan for the establishment of Montenegrin power exchange in 2017 by COTEE, CGES and EPCG.

The Government’s decision stipulates that COTEE and CGES hold two-thirds of the stake in the new company with minimum initial capital of EUR 100,000, whereas COTEE is to invest EUR 50,000. Other energy entities in the country, besides EPCG, can be also offered to participate in the third founder’s equity.

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 establishment of national energy exchange.

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

croatia-grid-connection-fee-res-croatia-ivo-milatic

Croatia’s long-awaited grid connection fee may unlock EUR 1 billion in renewables investment

13 June 2024 - By 2030, Ivo Milatić expects renewable sources will account for 8 GW of Croatia’s 10.5 GW electricity production capacity

solar-battery-storage-eu-solar-power-europe

Solar battery storage in EU doubles for three straight years

12 June 2024 - The EU installed 17.2 GWh of new battery storage systems in 2023, a 94% increase compared to 2022, says SolarPower Europe

north macedonia hristijan mickoski mef giles dickson

New wind farm to produce one-fifth of North Macedonia’s current power output

12 June 2024 - One of the first foreign investments in the new government's term will be a wind park, according to Hristijan Mickoski

energy vault som energy storage

Harnessing gravity to turn supertall buildings into energy storage systems

11 June 2024 - Energy Vault plans to deploy this innovative concept in supertall buildings around the world with Chicago-based architecture firm SOM