North Macedonia: Increase of electricity prices as of September

, SEE Energy News

The regulated price of electricity is set once a year on 30 June, but due to state of emergency in the country, this deadline was extended. REK decided that the new prices will come into effect after the election, namely as of September.

Electricity prices in North Macedonia will most likely increase as of September, but it is still unclear how big the increase will be, which should be decided by the Regulatory Energy Commission (REK).

Coronavirus pandemic has drastically reduced electricity consumption, not only in North Macedonia, but the entire region, which negatively affects the revenues of state-owned power utility ESM and electricity transmission system operator MEPSO. Thus, REK Chairman Marko Bislimoski hinted that the price could be increase in order to maintain normal operation of energy companies.

ESM sold only 5-million-euro worth of surplus electricity this year, compared to 22 million euros in 2019. At the same time, MEPSO’s revenues from cross-border transmission capacities dropped to 11 million euros from last year’s 22 million.