This site uses cookies to offer you a better browsing experience. Find out more on how we use cookies and how you can change your settings.

Nord Pool logo
Nord Pool logo
  • Trading
    • Join our markets
      • Contact us
      • Becoming a customer
      • Membership list
    • Operational messages
    • Day-ahead trading
      • Order types
      • Price calculation
      • Preliminary prices and exchange rates
      • Capacities
      • Ramping
      • Loss functionality
      • Curtailment, price thresholds and decoupling
    • Intraday trading
      • Order types
      • Capacities
    • Clearing
      • Settlement
      • Collateral
      • Trading Models
    • API
      • ISV partners
    • Rules and regulations
    • Market surveillance
      • Market Surveillance Newsletter
      • Expert reports
    • Intraday Auctions
    • Nordic Flow-Based Day-Ahead Market Coupling
      • Impact of Nordic Flow-Based on the Nordic System Price
      • System price results
    • Transition to 15-minute Market Time Unit (MTU)
      • FAQ
    • EPAD auctions
    • Euronext Nord Pool Power Futures
  • Services
    • Power Data Services
      • Day-Ahead Market Data
      • Aggregated Bidding Curves
      • Intraday Market Data
      • Intraday Hub2Hub
      • New Data Portal
      • Electricity retailers
      • Data Portal inquiry
      • Other products
      • FAQ
      • Inquire and Order
    • Compliance
      • REMIT UMM
      • REMIT transaction reporting service
      • REMIT Best Practice Report
    • Consulting
      • Key Stakeholders
      • Consultancy services
      • Recent projects
    • Nord Pool Academy
      • Course Portfolio
      • The Physical and Financial Power Markets Course 11 and 12 June 2025
      • Flow-Based in Depth Course
      • Nord Pool Certified Compliance Course - 8 May 2025
      • Nord Pool Certified Compliance Course 18 June 2025 – LIVE!
      • Nord Pool Certified Day-Ahead Trader Course
      • Customer Reviews
  • Media
    • Newsroom
      • Press releases
      • Newsletters
      • Market Surveillance Newsletters
      • TSO news
      • Whitepapers
      • Articles
      • Subscribe to Press releases
      • Subscribe to Updates
    • Events
      • On-demand webinars
      • Euronext Nord Pool Power Futures – EUA testing Webinar
      • Danish Regional Meeting
      • SDAC 15 Minutes MTU Webinar
    • Photos
    • Annual report
    • Media contacts
  • About us
    • Our business
    • Organisation
      • CEO
      • Strategy & Products
      • Operations, Risk, Clearing & Settlement and HR
      • Public Affairs, Communication & Marketing
      • Legal, Regulatory & Market Coupling Operation
      • Product Development & Innovation
      • Nordic, Baltic & UK​
      • Western & Central Europe
      • Board of Directors
    • Careers
    • History
    • Terms and conditions for use of website
    • Control cookies
    • ESG
      • Product offerings
      • The Norwegian Transparency Act
      • Social
      • Governance
  • Market data
Newsroom
  • Press releases
  • Newsletters
  • Market Surveillance Newsletters
  • TSO news
  • Whitepapers
  • Articles
  • Subscribe to Press releases
  • Subscribe to Updates
Events
  • On-demand webinars
  • Euronext Nord Pool Power Futures – EUA testing Webinar
  • Danish Regional Meeting
  • SDAC 15 Minutes MTU Webinar
Photos
Annual report
Media contacts
Back to listings
29 March 2019 10:30

BELEN and Nord Pool to establish Montenegrin power market

Berza električne energije d.o.o. (BELEN), the power exchange company of Montenegro has announced that it has selected Nord Pool, Europe’s leading power market, as its chosen partner to create the first competitive Montenegrin day-ahead power market.

BELEN and Nord Pool, chosen after an open competition, have committed themselves to the development of a transparent and efficient power market, enabling Montenegro to couple with neighbouring countries according to the European Internal Energy Market (IEM) standards. The cooperation will include support to establish processes and procedures required to operate a national day-ahead market in Montenegro, market coupling with neighbouring countries and day-ahead clearing and settlement processes.

It is planned that the new Montenegrin day-ahead power market will become operational in early 2020. The two parties also intend to extend the cooperation to include Nord Pool becoming a shareholder of BELEN.

Dejan Drašković, Chief Operating Officer of BELEN, said: “We are very proud to announce that we have successfully completed the competitive request for offer procedure to identify the best possible strategic partnership model for BELEN and for Montenegro. This was made possible with the help of the Energy Community Secretariat and Technical Assistance to Connectivity in the Western Balkans (Action No. IPA 2015/038-055.02/MC/CONNECTA) and we would like to thank them for their support throughout the entire process.

“We reached out to the best in this business to help us develop the Montenegrin power market and I must say that I am particularly proud that in the end we will be closely cooperating with Nord Pool, the European leader in power trading.”

Kari Ekelund Thørud, CEO of Nord Pool, added: “We are happy and honoured to be chosen as the partner for developing the Montenegrin power market. Nord Pool is committed to supporting the opening of power markets that is currently taking place in south-east Europe. To develop a liquid, and, more importantly, competitive market in Montenegro is key to establishing the country as a gateway between the Balkan region and Europe, through the undersea cable to Italy. This will ensure that Montenegro plays a vital role in moving the whole south-east European power market closer to the EU internal market.

“At Nord Pool we work hard to be at the very heart of developing future power markets for the whole of Europe.”  

About BELEN
“Berza električne energije d.o.o. (BELEN) is a limited liability company founded in June 2017 according to the decision of Montenegrin government, with the purpose of establishing and operating an organised day-ahead electricity market (DAM) in Montenegro. BELEN's founders and owners are the three main entities of Montenegrin power sector: Montenegrin transmission market operator CGES (33.33%), Montenegrin Power Enterprise – EPCG (33.33%) and market operator COTEE (33.34%).

Besides the establishment and start of operation of an organised DAM in Montenegro, BELEN's goals include electricity market coupling with at least one neighbouring country, along with later establishing of intraday and futures market, as well as creating new business opportunities for market participants and ensuring better efficiency, more competitive prices and greater security, quality and standard of services.”

About Nord Pool
Nord Pool, Europe’s leading power market, delivers efficient, simple and secure trading across Europe. The company offers day-ahead and intraday trading, clearing and settlement to customers regardless of size or location. Today 360 companies from 20 countries trade on Nord Pool’s markets.
Nord Pool operates markets in the Nordic and Baltic regions, Germany and the UK, and is a Nominated Electricity Market Operator (NEMO) in 15 European countries, while also servicing power markets in Croatia and Bulgaria. In 2018 Nord Pool had a total turnover of 524 TWh traded power. The company has offices in Oslo, Stockholm, Helsinki, Tallinn, London and Berlin.
Nord Pool has 25 years of power market experience built on offering flexibility, transparency, innovation, greater choice and participation to our customers.

Lysaker, 29 March 2019

For further information, please contact:
Stina Johansen +47 6710 9181 - [email protected]


Next message

Choose quarter

{{ group.year }}

  • ({{ period.count }})
Nord Pool logo

    Nord Pool AS

    Tel. +47 6710 9100

    P.O. Box 121

    1325 Lysaker, Norway

Market Data

  • Day-ahead
  • Intraday
  • Power system data
  • Map

Trading

  • Join our markets
  • Operational messages
  • Day-ahead trading
  • Intraday trading
  • Clearing
  • API
  • Rules & regulations
  • Market surveillance
  • Customers have their say

Services

  • Premium Data Services
  • Compliance
  • Consulting
  • Nord Pool Academy
  • German mini-site
  • French mini-site

The Power Market

  • Day-ahead market
  • Intraday market
  • CACM regulation
  • Benchmark regulation - Nordic system price
  • Market members
  • Bidding areas

Social media

Quick links

  • UMM
  • Auction
  • Intraday Web
  • CASS
  • Intraday and GB Half Hourly auctions

Media

  • Press
  • Newsroom
  • Annual report
  • Download center

About us

  • Careers
  • Advisory board
  • History
  • Organisation
  • Corporate Compliance Policy
  • Control cookies

Contact us

  • Norway
  • Sweden
  • Finland
  • Estonia
  • UK
  • Germany

© Nord Pool 2020 | Imprint, Data Policy, Legal Notice, How We Treat Personal Data