Montenegro’s Power Exchange (MEPX), the European Power Exchange EPEX SPOT and Slovenian BSP SouthPool have signed a Service Agreement whose implementation will result in the creation of the competitive Montenegrin day-ahead power market.
“Besides the establishment and start of operation of an organised DAM in Montenegro, MEPX’s goals include electricity market coupling with at least one neighbouring country, along with a later establishment of an intraday and futures market,” said Matija Medojević, CEO of MEPX. “In addition to this, MEPX aims at creating new business opportunities for market participants and ensuring better efficiency, more competitive prices and greater security, quality and standard of services.”
Indeed, all the Parties have committed to the development of a transparent and efficient power market, enabling Montenegro to couple with neighbouring countries according to the European Internal Energy Market (IEM) standards. The cooperation will include support to establish processes and procedures required to operate a national day-ahead market in Montenegro, market coupling with neighbouring countries and day-ahead clearing and settlement processes. It is planned that the new Montenegrin day-ahead power market (DAM) will become operational in the second half of 2022.
“EPEX SPOT has well-established partnerships in Central and South-Eastern Europe,” added Juan Perez, Director of Strategy of EPEX SPOT. “We are pleased about this new Service Agreement which will enable our partners to benefit from the proven trading and clearing solutions provided by EPEX SPOT.”