{"id":7642,"date":"2017-06-21T11:05:09","date_gmt":"2017-06-21T11:05:09","guid":{"rendered":"https:\/\/cges.me\/vijest-i-dogadjaj\/osnovana-berza-elektricne-energije-u-crnoj-gori\/"},"modified":"2026-06-18T08:05:53","modified_gmt":"2026-06-18T08:05:53","slug":"osnovana-berza-elektricne-energije-u-crnoj-gori","status":"publish","type":"vijest-i-dogadjaj","link":"https:\/\/cges.me\/en\/vijest-i-dogadjaj\/osnovana-berza-elektricne-energije-u-crnoj-gori\/","title":{"rendered":"Power exchange founded in Montenegro"},"content":{"rendered":"

Executive Director and Chairman of the Board of Directors of the Montenegrin Transmission System Operator (CGES) Ivan Bulatovi\u0107<\/b> and Dragan Laketi\u0107<\/b>, Executive Director of Elektroprivreda Crna Gora (EPCG) Tonino Maljo<\/b>, Executive Director of the Montenegrin Electricity Market Operator (COTEE) Milan Radovi\u0107<\/b>, potpisali su danasUgovor o osnivanju i Statut preduze\u0107a Berza elektri\u010dne energije DOO. <\/span><\/span><\/span><\/p>\n\n\n\n

The establishment of the Power Exchange has created essential conditions for better and more competitive electricity market in Montenegro, told today in Podgorica minister of economy Ms Dragica Sekuli\u0107after signing the Articles of Incorporation of the Power Exchange Llc.<\/p>\n\n\n\n

\u201cThis means that Montenegro, besides the fact that it will become an energy node in terms of infrastructure after construction of the undersea cable, will ensure electricity trading in Montenegro under more transparent and efficient conditions by creating its own power exchange. For energy undertakings this means that there will be equal conditions for electricity trading, and for citizens this means that necessary conditions will be created, when we have more competitive market, perhaps we may talk about cheaper electricity for consumers\u201d, told minister Sekuli\u0107.<\/p>\n\n\n\n

<\/span>She recalls that the obligation to create the Power Exchange stems from our Energy Community membership and European Union accession process.<\/o_p><\/span><\/span><\/span><\/p>\n\n\n\n

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<\/span>\u201cThrough the Western Balkan connectivity process, our obligation was either to create or join some of the exchange markets. However, we decided to create our own Power Exchange and accordingly three energy undertakings in Montenegro today signed documents formally establishing the Power Exchange\u201d, told minister Ms Sekuli\u0107, and added that the Power Exchange means that energy undertakings having either surpluses or deficits of electricity may sell electricity in the market not only in Montenegro but also throughout the region.<\/o_p><\/span><\/span><\/span><\/b><\/p>\n\n\n\n

CGES Executive DirectorIvan Bulatovi\u0107told that the signing of Articles of Incorporation and Articles of Association of the Power Exchange in Montenegro was a strong move towards creating regional electricity market.<\/p>\n\n\n\n

\u201cToday\u2019s establishment of the Power Exchange is of paramount importance, because energy undertakings and consumers in Montenegro will be able to trade in electricity as an exchange commodity in the future, thus encouraging competitiveness and transparency of the whole process. It will also influence the formation of referential price of electricity\u201d, told Bulatovi\u0107.<\/p>\n\n\n\n

EPCGExecutive Director Tonino Maglio told that this company will enrich its portfolio by the newly-established power exchange, as well as electricity transmission and distribution system operators that will be able to buy electricity in the power exchange to cover portion of losses in their systems, and some power suppliers and direct buyers in the country and region.<\/p>\n\n\n\n

<\/span>\u201cOne of the aims of the Power Exchange is to cooperate with power companies in the region, and the establishment of an efficient and liquid wholesale market is a precondition for the establishment of a competitive retail market, which means that, consequently, the opening of power exchange will bring benefits to end customers as well\u201d, told Mr. Maglio.<\/o_p><\/span><\/span><\/span><\/b><\/p>\n\n\n\n

COTEEExecutive Director Milan Radovi\u0107told that the establishment of Power Exchange created conditions for power operations beyond Montenegrin borders.<\/p>\n\n\n\n

<\/span>\u201cWe have more than 50 electricity traders in Montenegro, which will be enlarged by the establishment of the Power Exchange. This is simultaneously the chance for new employments in the very Power Exchange company, as well as new employments of people that will deal with exchange transactions\u201d, told Radovi\u0107.<\/o_p><\/span><\/span><\/span><\/b><\/p>\n\n\n\n

<\/span>According to him, very important conditions were created for us to be represented in Europe, i.e. to be part of the European power system through undersea cable and trading.<\/o_p><\/span><\/span><\/span><\/p>\n\n\n\n

<\/span>\u201cThis is a big day for Montenegro knowing that power sector is the backbone of the stability and development of economy in Montenegro\u201c, concluded Radovi\u0107.<\/o_p><\/span><\/span><\/span><\/b><\/p>\n\n\n\n

<\/span>Following the signature of Articles of Incorporation of the Power Exchange by three energy entities, the company is to be registered with the Central Registry of Commercial Entities, and afterwards the company will appoint Executive Director at the first session of the Board of Directors. <\/o_p><\/span><\/span><\/span><\/p>\n\n\n\n

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