Nord Pool and EPEX SPOT are interested in getting stakes in the Montenegrin Power Exchange (MEPX), which is starting preparations for a tendering procedure to select a strategic partner, with plans to launch operations in the third quarter of 2019, the Montenegrin government has said on its website.

A document on regional energy market integration activities in 2018, adopted by the government, notes that in the first year of MEPX existence the focus was on the selection of a strategic partnership model, in cooperation with the Energy Community Secretariat.

The invitation for a strategic partnership was sent to the Croatian Power Exchange (CROPEX), Serbia’ South East European Power Exchange (SEEPEX), the power exchange for the Baltic and the Nordic part of Europe Nord Pool, the Italian power exchange GME, and the European Power Exchange (EPEX SPOT). The answers were sent by Nord Pool and EPEX SPOT.

According to the document, both exchanges are interested in getting stakes in the Montenegrin Power Exchange.

The MEPX’ focus in the next phase will be on preparing a request for offer (RFO), while the final step will be to launch tendering by sending the RFO to potential bidders. The consultant has recommended a closed tendering procedure and direct negotiations with the best ranked bidder. At the current pace, it is expected that this part will be successfully completed by the end of 2018, while the launch of operational work is expected in the third quarter of 2019, according to the document.

The Montenegrin government said that the MEPX has to be recapitalized in order to secure conditions for activities through to the end of 2019.

Accordingly, the founders of the power exchange, the Montenegrin Electricity Market Operator (COTEE), the Montenegrin Electric Transmission System (CGES), and power utility Elektroprivreda Crne Gore (EPCG), should pay EUR 70,000 each to increase the capital contribution.

The Montenegrin Power Exchange was officially established on August 7 last year with a EUR 150,000 capital contribution.