Setup a Clearing Service in Montenegro 2023
In 2022 EPEX and BSP partnered with Montenegrin exchange BELEN for the establishment and operation of the Montenegrin Day-ahead market and the clearing of the exchange transactions. This strategic alliance was formed with the objective of leveraging the expertise and knowledge of all parties involved, in order to create a robust and efficient market that would benefit all stakeholders.
BSP and BELEN worked closely together to ensure the successful implementation of the clearing solution. They collaborated on the overall design, technical specifications, and testing plan for the clearing platform. The two organizations put in a lot of effort to ensure that the clearing solution was designed to meet a high standard of quality and functionality. Their joint efforts resulted in a robust and reliable clearing solution that met the needs of their clients.
The introduction of the Montenegrin Day-ahead market marks a significant advancement towards a more transparent and efficient electricity market. This market benefits both consumers and producers by ensuring fair prices, a secure and reliable electricity supply, and greater integration of renewable energy sources.
Consumers can expect access to more accurate and timely information about electricity prices, enabling them to make informed decisions about their energy consumption. Conversely, producers will have a more stable and predictable market, which will encourage investment in renewable energy sources and ultimately lead to a more sustainable energy future.
The implementation of this market holds great promise for the future of the energy industry in Montenegro.
The day ahead market with clearing solution became operational on April 26, 2023.