The Electric Power Company of Montenegro (EPCG), Montenegrin Transmission System (CGES) and Montenegrin Electricity Market Operator (COTEE) will have to increase share capital of the Electricity Exchange Company (MEPX) in the total amount of €210,000, so that this company can start with regular functioning by the end of the next year.
The document adopted by the Government of Montenegro at its last session says the MEPX should start working in the 3rd quarter of 2019 if everything goes as planned.
“Bearing in mind the existing financial situation of the Electricity Exchange Company, its founders (COTEE, CGES and EPCG) are obliged to increase their capital contributions (each to pay €70,000) within 30 days,” it is written in the information on activities related to the 2018 integration of the regional energy market.
Before the MEPX starts with its functioning, a strategic partner would have to be chosen, and the company is currently pretty much busy with preparing a request for a concrete offer so that a procedure can be completed.
