Serbia: SEEPEX power exchange launch marks lower price and bigger volume of neighboring CROPEX PX

, News Serbia Energy

Serbian power exchange SEEPEX launch trade volumes was higher than neighboring Croatia CROPEX power exchange.  The SEEPEX MW price was also lower than CROPEX DAM.

Southeastern Europe power exchange SEEPEX successfully launched the Serbian day-ahead power market Wednesday with 1,925 MWh traded on the first day, the exchange said in a joint statement with its project partners.

According to the market operator, the price of Serbian baseload power for next-day delivery settled on the exchange at Eur23.83/MWh ($26.56/MWh).

Wednesday’s settlement for Thursday was slightly below neighboring power markets with market operators OTE, OKTE and HUPX settling Czech, Slovakian and Hungarian day-ahead baseload power at Eur25.51/MWh, while OPCOM cleared its Romanian equivalent at Eur24.78/MWh.

In comparison, the recently launched Croatian power exchange CROPEX settled baseload power for next-day delivery in Croatia at Eur29.21/MWh Wednesday, according to exchange data.

The day-ahead power market is the first organized electricity market in Serbia and has been highly anticipated by the community amid expectations it will boost electricity trading within the region, according to SEEPEX. “The smooth launch of the Serbian day-ahead market is a cherry on the top of the liberalized power market in Serbia,” said SEEPEX Managing Director Milos Mladenovic in a statement.

The Serbian day-ahead market was initially expected to launch in November last year, but was delayed until 2016 to ensure all regulatory issues had been resolved and allow market participants time to prepare sufficiently. The Croatian power exchange CROPEX had also planned to launch the Croatian day-ahead market in January, but this was delayed to February 10. The first day of trading saw volumes of 476 MWh with a settlement price of Eur23.43/MWh for the day-ahead baseload contract, according to CROPEX.

SEEPEX is a joint venture between Elektromreza Srbije (EMS), the Serbian transmission system operator, and the European power exchange EPEX SPOT. The operations of SEEPEX will rely on the trading system used by EPEX SPOT for operating its own markets, with clearing and settlement procedures to be performed by the clearing house European Commodity Clearing, transmits