23.5 C
Herceg Novi
Monday, May 27, 2024
spot_img
Supported byspot_img
spot_img
UncategorizedSignificant growth in Montenegro's day-ahead electricity market over the past year

Significant growth in Montenegro’s day-ahead electricity market over the past year

Over the past year, Montenegro has witnessed significant interest from both domestic and international participants in its day-ahead electricity market.

According to the Electricity Market Exchange (BELEN), April 26 marked the one-year anniversary since the commencement of operational activities in Montenegro’s day-ahead electricity market.

During this period, there has been a notable increase in the number of registered participants in BELEN’s markets, rising from 14 to 23 since the launch of the day-ahead market. Additionally, two more participants are currently in the registration process, indicating growing engagement in the market.

Supported byElevatePR Digital

The total traded volume in Montenegro’s day-ahead market over 366 delivery days amounted to 410.4 thousand megawatt-hours (MWh), with a daily average of 1.12 thousand MWh. Meanwhile, the average energy price for this period stood at 89.5 EUR per MWh.

This market mechanism allows participants to trade electricity for the following day through an auction process. Such an approach ensures efficient price formation while closely aligning with supply and demand dynamics.

The establishment of Montenegro’s day-ahead market has led to a more liquid and transparent market environment, benefiting both consumers and producers. It has facilitated fair pricing, enhanced the reliability of electricity supply, and promoted greater integration of renewable energy sources.

With the successful implementation of the day-ahead market, Montenegro moves closer to realizing its vision of a fully functional electricity market integrated with the broader European energy landscape.

Supported by

RELATED ARTICLES

Supported byElevatePR DIgital
Supported by
Supported by
Supported by
error: Content is protected !!