Montenegro: Power utility EPCG invited to participate in SEEPEX and Cropex power exchange, SEE Energy News
The Electric Power Industry of Montenegro (EPCG) has been invited to participate in the Serbian and Croatian electricity exchanges, SEEPEX and CROPEX. Montenegro market is to small to have its own power exchange, the same case is with Bosnia and Hercegovina. Both utilities are part of regional expansion plan of both Serbian SEEPEX and CROPEX.
After the agreement among the leaders of the countries within the region at the recent summit in Vienna that every country must have its own electricity exchange, or it must join a neighboring exchange, the EPCG said to the agency Mina-business that all energy entities in Montenegro had regular meetings and consultations with the Ministry of Economy and the Energy Regulatory Agency (RAE).
“The aim of these meetings is the analysis of all technical and economic aspects related to the possible profitability of establishing our own exchange, or of our companies participating in regional exchanges, which is more likely for now”, it has been said in EPCG.
Meanwhile, as they have explained, EPCG is preparing all necessary documents so as to be present on the exchanges.
“Considering that it will take some time for these exchanges to operate more actively, EPCG will continue cooperating with the exchanges in which it already participates”, the company has added.
EPCG announced that, according to the preliminary analyses of economic and technical profitability of participation in exchanges, the advantage of the SEEPEX exchange is obvious, with the note that, according to legal rules, if someone wants to participate in such exchange in the EU countries, they also have to establish a company in the EU country where the exchange is located”, it has been said in EPCG.
According to its representatives, as a responsible company, EPCG will make the adequate decision aimed at the best possible strategic positioning on the market.
“Among other, we will thereby provide additional stability for the electric power system of Montenegro”, it has been concluded in EPCG.
The representatives of regional electricity exchanges have earlier announced their ambition to attract the state-owned energy companies from Bosnia and Herzegovina (BiH), Montenegro and Macedonia which are too small markets to have their own liquid electricity exchanges.
SEEPEX started operating on 17th February, and it was formed by the company Power Grids of Serbia and the European Electricity Exchange (EPEX SPOT).
CROPEX was established by the Croatian Transmission System Operator and the Croatian Energy Market Operator, who paid the founding capital in equal amounts, transmits Serbia-energy.eu