First regional power exchange ADEX goes live

Slovenian and Serbian transmission system operators and EPEX Spot established the first regional power exchange for Central and South-Eastern Europe.

Founding members ELES, Elektromreža Srbije (EMS) and European Power Exchange – EPEX Spot officially established the Alpine-Adriatic Danube Power Exchange – ADEX, the first regional power exchange for Central and South-Eastern Europe (CSEE). The signing ceremony was held in Ljubljana.

ADEX was established in a corporate merger of Slovenian energy exchange BSP SouthPool and its Serbian counterpart SEEPEX. The company’s headquarters are in Ljubljana while the main permanent offices are in Ljubljana and Belgrade. The newly founded ADEX will offer harmonized one-stop-shop spot power trading services in Slovenia and Serbia, with the ambition to extend business to other countries in the CSEE region.

First step towards solid regional electricity exchange

“With the establishment of the regional power exchange ADEX, the Slovenian BSP Energy Exchange, which has been present only in the Slovenian market, became an essential player in the electricity market of the wider European area. I am proud that ELES, as the 100% owner of BSP, together with its strategic partners with a clear vision, has managed to achieve this enviable milestone, which is at the same time the first step towards a solid regional electricity exchange,” said Aleksander Mervar, CEO of Slovenia’s transmission system operator ELES and the President of ELES Group.

“This extraordinary achievement will additionally boost regional electricity market development and provide a robust and reliable market environment needed for new RES investments and sustainable green transition. In addition, we believe that this open-minded initiative will act as a role model for other CSEE countries to join this advanced business infrastructure,” said Jelena Matejić, General Manager of EMS, Serbia’s transmission system operator.

ELES and EMS operate networks of 400 kV, 220 kV, and 110 kV transmission lines.

Serbia to get intraday market

The short-term milestones of ADEX will be to deliver an intraday market in Serbia and coupling the pivotal Serbian day-ahead market with the pan-European Single Day-Ahead Coupling (SDAC) as soon as possible.

“The ADEX power exchange will boost trading activity and market developments in Central and South-Eastern Europe. The whole of Europe will benefit from this new exchange hub, as it integrates the region further into Europe. It also means that we join forces across regions in driving forward the energy transition,” CEO of EPEX Spot Ralph Danielski said.

The time has come for the accession of Western Balkan states into Europe’s single electricity market, according to CEO of BSP SouthPool Anže Predovnik. He called ADEX the answer to the need for the integration of local fragmented electricity markets into a single European market.

Significant added value for business

“Acting in the past few years as the only one operational power exchange in the WB6 region, SEEPEX has already become a trustful and reliable regional marketplace for all our members, and this innovative ADEX context will provide a significant added value, not only to the Serbian and Slovenian spot electricity market and corresponding market players, but also to the overall business and investment environment in this part of Europe,” SEEPEX CEO Miloš Mladenović underscored.

BSP SouthPool operates a physical day-ahead market and intraday market with market coupling services in Slovenia and local and cross-border clearing and settlement services. In 2022, its 30 members traded 10.5 TWh with a clearing turnover of EUR 3.5 billion EUR.

As part of EEX Group, a group of companies serving international commodity markets, EPEX Spot is committed to creating a pan-European power market. Over 300 members trade electricity on its platform. HGRT, a holding of transmission system operators, holds 49% of equity.

SEEPEX is a licensed market operator, established as a joint stock company in a strategic partnership between EMS and EPEX Spot. In 2022, 27 members from 13 European countries traded 3.2 TWh on the organized day-ahead market.