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Macedonia to sign MoU with Bulgaria on coupling day-ahead markets

April 13, 2018

Photo: vlada.mk
Macedonia to sign MoU with Bulgaria on coupling day-ahead markets

Former Yugoslav Republic of Macedonia’s government (FYROM) has accepted the proposed text of a Memorandum of Understanding (MoU) on coupling the day-ahead electricity markets of the two countries.

This initiative will enable FYROM to join the internal electricity market of South-East Europe (SEE) and it will bring new business opportunities and cross-border trade in order to achieve efficiency, competitive prices and higher service standards, the government said in a statement after the meeting earlier this week.

It was concluded that this document is the result of liberalization of the energy sector in the country. The Draft Law on Energy, which envisages full liberalization of the energy sector, is expected to be submitted to the parliament very soon. Deputy Prime Minister for Economic Affairs Kočo Angušev said that this law is harmonized with five European directives and three European regulations, and will enable complete liberalization of the energy sector.

In its latest WB6 report on electricity, the Energy Community (EnC) Secretariat said that Western Balkans 6 (WB6) countries shifted from activities to develop national day-ahead markets towards finding an efficient solution that will secure rapid introduction of day-ahead market processes and coupling with neighboring markets.

According to the report, the majority of the parties were initially opting for establishing their own national day-ahead market, but now the focus has shifted towards finding an efficient solution through partnerships that will ensure swift implementation of day-ahead market processes and coupling with neighboring markets.

Earlier this week, with the introduction of intraday market (IDM) segment, the Independent Bulgarian Energy Exchange (IBEX) completed its trading platform along with day-ahead trading and long-term contracts.

In January, the Bulgarian Stock Exchange (BSE) completed the acquisition of IBEX for 5.2 million levs (EUR 2.7 million).

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