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Montenegrin Power Exchange – MEPX or BELEN – launched its day-ahead market and registered 1.11 GWh in baseload electricity volume at a price of EUR 112.22 per MWh.
The Western Balkans got their third day-ahead electricity market today, which increases the opportunities for mergers among the exchanges and, eventually, integrating into the European energy union. BELEN (Berza električne energije), the operator of the Montenegrin Power Exchange or MEPX, said its new platform is bringing greater transparency and efficiency to the country’s electricity market.
The price of baseload power for April 27 came in at EUR 112.22 per MWh with 1.11 GWh in volume, while the price for peak load (from 9:00 h to 20:00 h) was EUR 108.87 per MWh at a volume of 441.8 MWh, the daily report shows.
The European Power Exchange – EPEX SPOT provided the platform and the clearing system was implemented in cooperation with BSP SouthPool from Slovenia.
Liquid market helps integrate renewables
The go-live leads to a more liquid and transparent market, benefitting both consumers and producers by ensuring fair prices, more secure and reliable electricity supply, and greater integration of renewable energy sources, according to BELEN.
An increase in liquidity is expected in June, when Montenegro’s only coal power plant Pljevlja is expected to be back online after an overhaul
“The launch of the day-ahead market will facilitate the integration of renewables and it represents the first and an exceptionally important step in fulfillment of all technical-legal obligations of Montenegro for the planned participation in a single European electricity market, which we can expect when we become a member of the EU,” said Chief Executive Officer of BELEN Matija Medojević.
Chief Operating Officer Dejan Drašković pointed out the launch is a significant step in achieving energy security and sustainability in the entire country as well as for its economic growth and development, given the energy sector’s significance in Montenegro. He thanked the Energy Community Secretariat for its support in getting the day-ahead market online.
Electricity was traded for every hour of next day
“With this we paved the way for further development of the Montenegrin electricity market and its integration into the EU market. I am looking forward to the continuation of cooperation and further exchange of experience between BELEN and our consortium – EPEX SPOT and BSP,” said CEO of BSP Southpool and Chairman of the Board of ADEX Anže Predovnik.
There was a price signal and volume for every hour during the first trading day, he noted.
BELEN noted that Montenegro’s transmission system operator Crnogorski elektroprenosni sistem (CGES) and its Italian counterpart Terna have a 600 MW undersea electricity cable between the two countries, helping renewable energy deployment.
An increase in liquidity is expected in June, when Montenegro’s only coal power plant Pljevlja is expected to be back online after an overhaul, the firm stressed. The facility is owned by state-owned power utility Elektroprivreda Crne Gore (EPCG), the market maker at MEPX.
Of note, Albanian Power Exchange, ALPEX, launched regular operations two weeks ago with the introduction of a day-ahead market in cooperation with the Athens Stock Exchange and the Hellenic Energy Exchange. It should include the market in Kosovo* in the summer, according to announcements.
Serbia’s SEEPEX scheduled the rollout of an intraday electricity market for June. The bourse’s operator merged late last year with Slovenian BSP SouthPool into Alpine-Adriatic Danube Power Exchange – ADEX, and there is a possibility that Hungarian HUPX would join them.
North Macedonia is preparing to launch an electricity exchange in May.
Here is the list of participants in the day-ahead market in Montenegro:
1. Elektroprivreda Crne Gore AD
2. Crnogorski elektrodistributivni sistem d.o.o.
3. Crnogorski elektroprenosni sistem AD
4. Crnogorski operator tržišta d.o.o.
5. GEN-I, trgovanje in prodaja električne energije, d.o.o.
7. Medex Electric d.o.o.
8. Hrvatska elektroprivreda d.d.
10. Strategic Energy Trading Energy Society Anonyme
12. Holding Slovenske elektrarne d.o.o.
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