Macedonia: ELEM will import electricity at 36.4 euros/MWh

, SEE Energy News

Macedonian power utility ELEM informed that it will import 32,710 MWh of electricity in the period between 10 March and 30 April 2017 at an average price of 36.4 euros/MWh.

According to the statement from the company, the offers from nine different suppliers were considered. In accordance with the open bid, ELEM decided on the average offer of 36.4 euros, which is lower than current producing margin of the company and is in line with its expectations.

Earlier, ELEM said that the import is driven by the current low energy prices and is meant to allow the company to export electricity later in the year, when the prices are expected to rise. The company is priming its production for maximum effect, and it will continue to make business decisions that are in favor of citizens and its own bottom line, it was concluded in ELEM’s statement.

During the cold spell in January, ELEM was forced to import electricity as domestic production was unable to cope with increased consumption. In midJanuary, General Director of ELEM Hristijan Mickoski said that when temperatures were the lowest and electricity consumption was the highest, Macedonia met about 80 % of its electricity need by domestic production, adding that some 2 million euros were spent on electricity imports, but the financial shortfall would be much smaller.