To mark a start of operation of Montenegrin day ahead market (DAM), Ministry of Capital Investments organised a meeting on 25 April 2023 at their offices, which was attended by state secretary in Ministry of Capital Investments Admir Šahmanović, CEO of MEPX Matija Medojević, COO of MEPX Dejan Drašković, CEO of Slovenian BSP Southpool Anže Predovnik and members of MEPX Board of Directors Jelena Marković and Marina Šljivančanin.
Everyone present underlined the importance of establishing a transparent and efficient electricity market as another instrument of EU policies implementation, with the goal to remove business barriers and standardise procedures and regulations, enabling Montenegro to couple its market with nieghbouring countries according to European Internal Electricity Market (IEM) standards.
,,Ministry of Capital Investments has been a reliable partner to MEPX in the project of establishing a functional and operational electricity market, in accordance with European standards. We expect that launch of DAM will have a positive impact on number of participants on the wholesale market, as well as on a cross-border exchange of electricity. In addition, we are pleased that the launch of DAM in Montenegro represents the fulfilment of one of the main recommendations from European Commission for 2023, with regards to Chapter 15", said state secretary Admir Šahmanović.
,,The launch of DAM will enable enable electricity trading in Montenegro in accordance with best European practices and this market will facilitate integration of renewables in the future. All this represents the first and extremely important step in fulfilment of all technical-legal obligations of Montenegro for planned integration into single European electricity market, which can be expected alfter we become a full member of EU", said Matija Medojević, CEO of MEPX.
During the meeting, MEPX and BSP Southpool signed a document on successful implementation of clearing and settlement system (CASS), that represents one of the fundamental services for unhindered operation of the market.
,,This signing of the document on successful implementation of clearing system, and thus the fulfilment of conditions for the start of electricity trading on Montenegrin DAM, represents one of the conditions for conclusion of Chapter 15 in Montenegrin EU accession negotiations and means a start of establishing a competitive electricity market in Montenegro. The precondition for a liquid electricity market is a good cooperation between MEPX, COTEE, CGES, EPCG and other market members, including of course the support of the Government of Montenegro. Regarding the future projects, I expect market coupling of Montenegro with neighbouring markets, along with start of operation of an intraday market. Colleagues from MEPX have proven themselves in our cooperation as utmost professionals, and they guarantee, along with our European consortium of EPEX SPOT and BSP Southpool, that the services of electricity purchase/sale on Montenegrin DAM will be provided on the basis of best European practice and know-how of both power exchanges, EPEX SPOT and BSP Southpool. Trading and clearing platforms are electronic, available to wide circle of market participants, including electricity producers and traders", said Anže Predovnik, CEO of BSP Southpool.