Crnogorski Elektoprenosni Sistem A.D. (Montenegro)

Crnogorski Elektoprenosni Sistem A.D. Podgorica is a company located in Podgorica, Montenegro. It was incorporated on an unspecified date. The company's main products and services are not mentioned in the source. The company has 7,100 shareholders as of February 8, 2021. The majority owner of CGES is the government of Montenegro, holding 55% of the company's shares. The strategic partner of the majority owner, Italian transmission system operator Terna Rete Elettrica Nazionale S.p.A, owns 22.09% of the shares. The Serbian transmission system operator, Elektromreža Srbije, holds 15% of the shares. Physical individuals own 6.69% of the shares, investment funds own 0.14%, custody accounts own 0.61%, legal entities own 0.10%, and Crnogorski Elektoprenosni Sistem A.D. owns 0.38% of the company's share capital. CGES's shares are listed on the "A" list of the Montenegro Stock Exchange. The company has a stake of 14.28% in the Coordination Auction Center for Southeast Europe (SEE CAO). CGES is also one of the founders of the Electricity Exchange LLC, holding a 33.33% stake in the company. Additionally, CGES holds a 25% stake in the Electro-Energy Coordination Center LLC. The company has also established the Security Coordination Center LLC in collaboration with Serbian and Bosnian-Herzegovinian transmission system operators. CGES has a 40.6% stake in the electricity exchange company BELEN LLC. BELEN's task is to provide transparent information about market prices, quantities, and participants in the electricity market. In 2021, BELEN, EPEX SPOT, and Slovenian BSP "SouthPool" signed a service agreement to establish a day-ahead market for electricity in Montenegro. CGES holds a 40.6% stake in BELEN LLC.