The day-ahead electricity market SEEPEX is expected to be established by the end of the third quarter of the year stated TSO company CEO Nikola Petrovic.
In the joint venture of the EMS and the EPEX spot in Serbia, the EMS will have the ownership share of 75 percent, and the share of the French company will amount to 25 percent stated Nikola Petrović, director of the Serbian transmission system operator “Power Grids of Serbia“ (EMS).
„The construction of the long distance line of 400 kV Pančevo-Rešice, a part of the Trans Balkan Power Transmission Corridor, should be started this year. The project is worth around 27 million euros and it is a part of Serbia’s development into an energy hub for both electricity transmission flows in the region, from north to south and from east to west“, said Petrović.
Talking about this year’s investments, he reminded that the most important projects currently implemented by the company were the Transformer Substation 20 Belgrade and the construction of the long distance power line Pančevo-Rešice.
The project Transformer Substation 20 Belgrade, worth 45 million euros, will soon be finished; the only thing waited for is the access to long distance lines once they are finished.
Petrović emphasized that the substation would be finished in mid-2015, or at the beginning of the third quarter of the year at the latest.
As a reminder, the document “Principles of Cooperation between the Public Enterprise “Power Grids of Serbia” and the EPEX SPOT for the Establishment and Operation of SEEPEX“ was signed in May 2014. The document concretizes the previous cooperation between the PE “Power Grids of Serbia“ and the EPEX SPOT aimed at establishing an organized electricity market in the Republic of Serbia and the Southeast Europe region.
The SEEPEX will be a joint venture with a 75:25 ownership shares of the EMS and the EPEX, the Agreement will enable the establishment and development of an organized SPOT electricity market in Serbia in accordance with the European target model, with an appropriate platform provided for the envisaged establishment of a regional day-ahead market.
In the initial phase, the neighbouring countries Montenegro, Macedonia and Bosnia may join the SEPEEX. There are also plans to connect the regional market with the market in Hungary, which is already connected with the day-ahead markets in the Czech Republic, Slovakia and Romania.
The SEPEEX will first establish its day-ahead market, with the within-day trading in a later phase.
According to earlier information, the exchange is expected to fully develop in 2018, whereas the expected profit amounts to 400.000 euros annually.
When it comes to the benefit of the SEEPEX for market participants, the organized market will provide a centralized, consumer-oriented infrastructure, in which all bids are submitted in one place, so that optimal hourly prices could be determined on the basis of supply and demand.
