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Montenegro to hold power purchase auctions on June 21

Jun 19, 2024, 10:05:44 AMArticle by Iskra Pavlova
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June 19 (SeeNews) - The Montenegrin Power Exchange (MEPX) said it will hold on June 21 two auctions for delivery of electricity needed to cover transmission system losses in June and July.

Montenegro to hold power purchase auctions on June 21
Photo by Fre Sonneveld on Unsplash

In cooperation with MEPX and via the MEPX trading platform, transmission system operator Crnogorski Elektroprenosni Sistem (CGES) will select the most favourable bidders who will deliver electricity for covering the system's losses during June 24-30 and July 1-7, MEPX said in a statement on Tuesday.

The profile of the sought electricity in each of the two auctions is 6 MW in the 00-24h time band, with total estimated volume of 1,008 MWh per auction.

MEPX held two auctions on June 7, purchasing 840 MWh for profile 00-24h (5 MW) at 95.44 euro ($102.3) per MWh to cover losses during June 10-16, and a further 840 MWh for profile 00-24h (5 MW) at 96.69 euro/MWh for the June 17-23 period.

MEPX is a limited liability company founded by power utility Elektroprivreda Crne Gore (EPCG), CGES and the domestic power market operator COTEE in June 2017 under a Montenegrin government decision to establish and operate an organised electricity market in the country.

($ = 0.933 euro)

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