Croatia: CROPEX power exchange first auction on February 10

, SEE Energy News

Croatian electricity exchange (CROPEX) and leading European electricity exchange Nord Pool announced that the first auction in CROPEX day ahead market will be held on Friday, February 10, 2016.

CROPEX and Nord Pool are contracts on cooperation and implementation of technical solutions in order to establish day ahead electricity markets between CROPEX and Nord Pool signed during the third and fourth quarter of 2015 which allowed CROPEX day ahead market to be a part of EU Multi Regional Coupling electricity market from the very beginning, it was stated on the internet pages of CROPEX

The official start of the accession of CROPEX members started on December 14, 2015 and on the same day CROPEX got the status of the Nominated Electricity Market Operator NEMO from the Croatian Energy Regulatory Agency for the day ahead and intraday connecting of the electricity market for the period of four years, says the announcement.

At the same time they announced that after the start up of the Croatian electricity market in February CROPEX and the Croatian operator of the transmission system will intensify bilateral activities with the Slovenian side in order to complete the proccess of connecting the Croatian day ahead market to the  EU MRC electricity market.

In cooperation with Nord Pool CROPEX also plans to initiate Croatian intraday electricity market in order to provide extra posibilities for trade and benefits for its members. With other positive aspects, the project has the goal to integrate renewable energy sources in an efficient way and prepare the local intraday electricity market for connecting with EU intraday market XBID which is expected to start working in 2017, the announcements says.

The Croatian exchange was established by Croatian operators of transmission system  HOPS and Croatian operator of electricity market HROTE in order to organize trade and physical delivery of electricity in the area of Croatia and other electricity exchanges, transmits