Macedonia: MoU on joint electricity market with Bulgaria approved

, SEE Energy News

The Macedonian Government reviewed and adopt-ed the information on the signing of the Memoran-dum of Understanding (MoU) between the Mace-donian Ministry of Economy and Bulgarian Ministry of Energy on

According to the press release from the Govern-ment, one of the goals of this initiative is for Mace-donia to joint the internal electricity market in southeastern Europe in order to offer market par-ticipants new business opportunities and cross-border trading, thus achieving efficiency, competi-tive prices and higher service standards.

It was concluded that this Memorandum is a result of the liberalization provided by new legal solu-tions in the energy sector, as well as the favorable climate and mutual support stemming from the Treaty of Friendship between the two countries.

In early 2017, CEO of the Independent Bulgarian Electricity Exchange (IBEX), Konstantin Konstanti-nov said that Bulgaria and Macedonia are consid-ering the coupling of their day-ahead electricity markets. The representatives of Macedonian elec-tricity transmission system operator MEPSO and energy regulator have met earlier with their Bul-garian counterparts in order to discuss possible market coupling. Currently, Macedonia does not have its own electricity exchange, but as a con-tracting party of the Energy Community, the coun-try is obliged to couple its spot-market with at least one neighboring country by mid-2018. The announcement of IBEX‘s CEO means that it is most likely that Macedonia will use IBEX‘s platform instead of developing and establishing its own ex-change.