The Croatian Power Exchange (CROPEX) signed the Western Balkan 6 (WB6) Memorandum of Understanding on Regional Electricity Market Development.
By signing the memorandum, CROPEX declared its willingness to participate in the day-ahead electricity market integration project, Energy Community Secretariat reported. The Croatian Power Exchange will join the Programme Steering Committee on day-ahead market integration, whose task is to address all measures and steps needed for the operation of functioning day-ahead markets in and between the signatory countries.
Croatia is the second European Union (EU) member state, after Italy, which joined the WB6 electricity market integration initiative. The aim of the initiative is to establish the coupling of national organised day-ahead markets with at least one neighbouring WB6 or EU country by July 2018.
“I am delighted that CROPEX, as a highly experienced neighbouring power exchange, has made the decision to officially become part of the WB6 process. The WB6 Memorandum of Understanding has once again proved to be the platform of choice for cooperation between WB6 countries and EU Member State stakeholders. A truly integrated pan-European energy market can only function if the WB6 countries are integrated into the EU’s internal energy market,” said the director of Energy Community Secretariat Janez Kopač adding that the signature marks the first step towards future market coupling between Croatia and contracting parties.
Silvio Brkić, the director of CROPEX said that their signature represents confirmation of CROPEX continuous support to activities of Energy Community Secretariat as well as WB6 countries and stakeholders in their joint effort to establish and couple day-ahead markets at regional and cross-border level with WB6 neighbouring EU power exchanges.
“I am happy and proud that CROPEX as first EU power exchange signatory party to WB6 Memorandum of Understanding has joined six Western Balkan countries of the Energy Community. We in CROPEX are looking very much forward to contributing with our expertise and experience in WB6 related steering bodies and working groups with the aim to successfully accomplish at least one day-ahead market coupling project with our WB6 neighbouring partners by July 2018,” said Brkić.
The Memorandum of Understanding was originally signed by the WB6 members of the Energy Community in April 2016. Ministries, transmission system operators, national regulatory authorities and power exchanges of neighbouring EU member states were invited to participate in the process.
The Italian energy regulator joined the process in September 2016. The Italian power exchange and electricity transmission system operator (TSO) are also active in the process.