Serbia: SEEPEX to launch Serbian Day-Ahead market on 17 February 2016, News Serbia Energy
First organized power market in Serbia and in the Energy Community countries – Compatible with European Market Coupling initiatives from the start
The South East European Power Exchange (SEEPEX) and its project partners today announce the launch of the Serbian Day-Ahead market on 17 February 2016, subject to member readiness. Member tests have been conducted successfully and final regulatory issues are about to be cleared. The launch of the SEEPEX Day-Ahead market will be a major step in the creation of a regional power trading solution for South East Europe (SEE) and is highly anticipated by the electricity market community.
SEEPEX will foster the development of a competitive, transparent and reliable electricity market for Serbia and South East Europe, boosting electricity trading in the entire region. “The Day-Ahead market is the backbone of an efficient power system”, says Milos Mladenovic, Managing Director of SEEPEX. “We are the first to offer a fully-fledged integrated trading and clearing solution in the SEE region, fully compatible with the European Market Coupling initiatives from the start.”
“As shareholders of SEEPEX we are proud to help building the Serbian and regional power market”, add Nikola Petrović, EMS General Manager, and Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT. “A transparent reference price will support the development of the energy sector in the entire region.” Dr. Thomas Siegl, Chief Risk Officer of ECC concludes: “We are pleased that we can support SEEPEX not only as a clearing house, but also that SEEPEX can connect through ECC local customers to the large existing member base of ECC.”
SEEPEX is a joint venture between the Serbian transmission system operator Elektromreža Srbije (EMS) and the European Power Exchange EPEX SPOT. The operations of SEEPEX will rely on the trading system ETS, used by EPEX SPOT for operating its own markets in Central Western Europe. Clearing and settlement will be performed by the clearing house European Commodity Clearing (ECC). SEEPEX members will thus benefit from high-level standards both in terms of trading and clearing services. This also allows for an efficient and fast adherence to existing market coupling initiatives such as the 4M Market Coupling or the Multi-Regional Coupling, already covering 85% of European electricity consumption.
The SEEPEX a.d. Beograd (SEEPEX) is a licensed Market operator for an organized electricity market/power exchange established in the form of partnership between JP EMS and EPEX SPOT as a joint stock company. SEEPEX shall operate an organized electricity market, with the standardized electricity products and delivery within a time frame day-ahead and intraday with the aim to offer these electricity products for trading in Serbia and in the SEE region, where appropriate. SEEPEX will organize markets that are optional, anonymous and accessible to all companies satisfying admission requirements. The SEEPEX objective is to ensure a transparent and reliable wholesale price formation mechanism on the power market by matching supply and demand at a fair and transparent price and ensure that all transactions concluded at SEEPEX are finally delivered and paid. www.seepex-spot.com
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