Montenegro: CGES earned 3 million euros through ME-IT capacity auctions, SEE Energy News
Montenegrin electricity transmission system operator CGES has earned around 3 million euros by auctioning the capacity of an undersea cable connecting Montenegro and Italy.
The electricity interconnection was put into operation in November last year, and in December the Coordinated Auction Office in South East Europe (SEE CAO) has started the auction process for 2020 by offering the capacity of 70 MW. The link‟s total capacity is 600 MW, of which Montenegro is entitled to 200 MW.
Vesna Brecanovic, Chairwoman of CGES‟ Board of Directors said that by auctioning only a part of the capacity in the submarine power cable to electricity traders, the company has generated 3 million euros in annual auctions for 2020. She noted that through commercial exploitation on the new interconnection border, CGES generated more than half of the total income it generated last year at all borders.
She said that CGES also continues to work intensively on the Trans-Balkan electricity corridor, with the project for the construction of 400 kV transmission line from Cevo to Pljevlja.