Electricity suppliers and traders from North Macedonia and Kosovo* will be able to operate in both markets, according to a memorandum signed by the heads of the two regulatory bodies for energy.
In the presence of the Minister of Economy of Kosovo* Artane Rizvanoli, Chairman of the Board of Energy Regulatory Office (ERO) of Kosovo* Ymer Fejzullahu and President of the Energy and Water Services Regulatory Commission (RKE) of North Macedonia Marko Bislimovski signed a memorandum of understanding that paves the way for electricity market integration.
Motive for investments in renewables
The two sides agreed to recognize each other’s licenses for power trading and supply. Bislimovski said it is a step toward the European Union’s single electricity market.
Bislimovski: North Macedonia halved its share of electricity imports since the beginning of the energy crisis
The agreement will accelerate the energy transition and it will be a motive for new investments in renewable sources because the electricity produced in the country will be able to be delivered immediately to the users in Kosovo* and the other way around, he pointed out. “In energy, there is no small or big picture – there is only strategic setting and the realization of goals that will bring security, stability, reduced energy dependence and increased production. And it is precisely our focus on the transition and investments in RES that halved electricity imports,” Bislimovski stated.
RKE’s chief pointed out that the share is now 15%, compared to 30% before the start of the energy crisis.
Market integration through coupling, electricity exchanges
In practice, the agreement means a reduction of administrative barriers for licensed electricity suppliers and traders, Fejzullahu said.
Of note, North Macedonia’s National Electricity Market Operator MEMO is conducting a project, with support from the United States, to enable market coupling between North Macedonia, Greece, Albania and Kosovo* and regional integration. In other news, Rizvanolli earlier said more than 140 companies including from North Macedonia expressed interest in Kosovo’s first solar power auction.
It should be mentioned that MEMO launched a domestic electricity exchange in May by introducing a day-ahead trading platform, right after Montenegro and Albania. Kosovo* is set to join the ALPEX bourse, in which it holds an ownership stake, after a recent agreement with the Energy Regulatory Authority (ERE) of Albania.