Montenegrin electricity exchange established – Montenegro, 22 June 2017

CEOs of Montenegrin power utility EPCG Tonino Maglio and electricity market operator COTEE Milan Radovic, Managing Director and Chairman of electricity transmission system operator CGES Ivan Bulatovic and Dragan Laketic have signed the founding agreement and the statute of “Berza elektricne energije”, the company that will operate the future Montenegrin electricity exchange.
Montenegrin Minister of Economy Dragica Sekulic said that by this act, substantial conditions have been created for a better and more competitive electricity market in the country. This means that Montenegro will, besides becoming an energy hub in the infrastructure sense by building a submarine cable, by creating its own electricity exchange, will be able to sell electricity in Montenegro under more transparent and high quality conditions. For energy companies it means it will have equal conditions for all for electricity trading, and for citizens it means that as soon as the country gets a more competitive market, cheaper electricity for consumers can be discussed, Sekulic concluded.

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