Secretariat welcomes next step in establishing Montenegro power exchange

Electricity
1 April 2019

The Secretariat warmly welcomes the recent progress made in establishing a power exchange in Montenegro. BELEN, a company established by the Government of Montenegro to lead the establishment of a national day-ahead market, has selected Nord Pool as its strategic partner for setting up a power exchange in Montenegro.

The companies have announced that the cooperation will include support in establishing 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. The two companies also intend to extend the cooperation to include NordPool as a shareholder of BELEN.

The partnership is a key milestone that will contribute to the establishment of a liquid and competitive energy market in Montenegro and support regional electricity market integration, including via the new underwater power transmission cable linking Montenegro to Italy.

The selection process was supported by the project “Technical Assistance to Connectivity in the Western Balkans - Component 2: Regional Energy Market”, which is funded by the European Union and implemented by the Energy Community Secretariat.