Montenegro still has no operational intraday electricity market, although it has strengthened its alignment with European electricity legislation, the European Commission said in its 2026 Montenegro report published on 4 November 2026. The assessment points to continuing gaps in electricity trading and retail supplier competition.
Montenegro’s day-ahead market is operating, but intraday trading has not been launched. Intraday trading allows renewable generators, suppliers and traders to adjust commercial positions closer to delivery as forecasts of production and demand change. This flexibility is particularly relevant to wind and solar producers, whose actual generation can differ materially from forecasts used for day-ahead commitments. Without a sufficiently developed market, generators and suppliers have fewer opportunities to adjust before delivery, potentially increasing their exposure to balancing costs.
Although Montenegro has seven licensed electricity suppliers, state-controlled Elektroprivreda Crne Gore (EPCG) continues to supply the entire retail electricity market. The assessment identified a substantial gap between formal retail liberalisation and actual competition.
Renewable generation has advanced: the Gvozd wind farm was commissioned in May 2026 with an initial capacity of 54.6 MW, and a possible increase to 75.6 MW is planned. Montenegro’s first solar electricity auction was cancelled and has not been relaunched. For independent power producers, unresolved issues include intraday trading arrangements, balancing exposure, market access and the bankability of renewable project revenues.
Other outstanding work includes electricity supply risk preparedness and cybersecurity requirements for cross-border electricity flows. Montenegro has secured petroleum emergency stocks equivalent to approximately 35 days of supply, but still needs to further develop its strategic petroleum inventories.
The findings set renewable generation progress against market arrangements needed to support private investment, competitive supply and flexible trading. Deeper integration into regional and European electricity markets will depend on physical interconnection capacity as well as competitive market structures, operational trading platforms and predictable ways to manage renewable generation risks.
