The Secretariat welcomes the start of the implementation of a day-ahead market in Montenegro. BELEN, the power exchange company of Montenegro responsible for the establishment of a national day-ahead market, signed today a Service Agreement with European Power Exchange EPEX SPOT and Slovenian BSP for setting up a day-ahead power market in Montenegro.
According to the companies, their cooperation will include support in establishing processes and procedures required to operate the national day-ahead market in Montenegro, market coupling with neighbouring countries and day-ahead clearing and settlement processes.
This is a key step towards improving competition and liquidity of the electricity market in Montenegro. The Secretariat welcomes BELEN’s plan to initiate coupling with neighbouring markets from the very beginning of day-ahead market operation in nine months. This will contribute to regional electricity market integration and ensure a robust price signal. The parties reiterated the need to ensure compatibility of the national VAT regime with that applicable for other power exchanges, as a precondition for smooth market functioning and coupling. The Energy Community Secretariat will continue to support Montenegro in these endeavours.
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The project was supported by the project “Technical Assistance to Connectivity in the Western Balkans – Component 2: Regional Energy Market”, which was funded by the European Union and implemented by the Energy Community Secretariat.
Source: Energy-community
