A Memorandum of Understanding (MoU) with which the parties officially declared their intention to make all necessary efforts for the day-ahead market coupling between Bulgaria and North Macedonia was signed by Bulgarian electricity transmission system operator ESO, the Independent Bulgarian Energy Exchange (IBEX) and their North Macedonian counterparts MEPSO and newly established electricity market operator MEMO.
The project shall be implemented in accordance with the European target model, in cooperation with SDAC bodies and in accordance with the approved common roadmap. The market coupling project was restarted in September this year after the MEMO was designated as the nominated electricity market operator for the territory of North Macedonia. The integration of short-term market segments is key to the development of the electricity market within each bidding area. The implementation of a single European market is a leading step for the efficient use of resources, being a prerequisite for the successful transition to low-emission electricity generation imposed by the new European policy and the leadership taken in the fight against climate change. The coupling of the day-ahead markets should take place in 2022. Southeast Europe region is characterized by a large number of non-EU countries which makes the completion of market integration in the region challenging. The project parties strongly believe that the successful market coupling between Bulgaria and North Macedonia is of paramount importance for successful market integration throughout the region. The beginning of the initiative dates back to March 2018, when, under the auspices of the Western Balkans 6 project, a MoU which launched the pilot project aiming at day ahead market coupling between the two countries was signed.