MEPX to start implementation of Day-Ahead market in Montenegro
Podgorica, 20 October 2021. Montenegrin Power Exchange (MEPX), the power exchange company of Montenegro, the European Power Exchange EPEX SPOT, and Slovenian BSP SouthPool have signed a Service Agreement whose implementation will result in creation of the competitive Montenegrin day-ahead power market.
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.
Matija Medojević, CEO of MEPX indicates: “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. 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.”
Juan Perez, Director of Strategy of EPEX SPOT, comments: “EPEX SPOT has well-established partnerships in Central and South Eastern Europe. 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”.
Montenegrin Power Exchange (MEPX) is a limited liability company founded in June 2017 according to the decision of Montenegrin government, with the purpose of establishing and operating an organised day-ahead electricity market (DAM) in Montenegro.
The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in 13 countries: in Central Western Europe, Switzerland, the United Kingdom, the Nordics and in Poland. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market. Over 300 members trade electricity on EPEX SPOT. 49% of its equity is held by HGRT, a holding of transmission system operators. For more information, please visit www.epexspot.com.
BSP SouthPool was founded in 2008 by Borzen, Power Market Operator, and Eurex Frankfurt, European Derivatives Exchange, AG. The BSP provides market participants with the high-quality, transparent, competitive and comprehensive services of an organised electricity market, promotes development of Slovenian energy market and also transfers its gained knowledge and experience in the South East Europe region.