North Macedonia’s MEMO power exchange starts work with BSP on intraday segment launch

North Macedonia’s National Electricity Market Operator – MEMO signed an agreement with the Slovenian BSP Energy Exchange for the provision of trading platforms and a clearing platform. The deal marked the start of work on the introduction of the intraday electricity market by mid-year. It is part of efforts toward North Macedonia’s integration into the single European electricity market.

North Macedonia’s National Electricity Market Operator – MEMO has selected Slovenia’s BSP Energy Exchange to provide trading platforms and a clearing platform for the day-ahead and intraday segments. Chief Executive Officer of MEMO Zoran Gjorgjievski signed the agreement today with Chairman of the Management Board of ADEX and CEO of BSP Anže Predovnik.

Their cooperation has been expanding since the launch of North Macedonia’s day-ahead power market on May 10, 2023. Through partnership, the intraday segment is expected to be established by mid-year, the officials noted.

Commitment to transparent, reliable, efficient market

MEMO pointed out that the deal is aimed at enhancing the functionality of the organized electricity market and preparing it for integration with the single European market.

“This agreement represents a continuation of the cooperation with BSP and EPEX SPOT, and an important step in the development of the Macedonian power exchange, as well as in strengthening its technical and institutional readiness for market integration with the European Union. Partnering with a renowned exchange such as BSP and EPEX SPOT, with whom we have already established cooperation based on trust and proven results, confirms our commitment to a transparent, reliable and efficient market,” Gjorgjievski stated.

The representatives of MEMO and BSP kicked off the preparations for the launch of the intraday segment

He added that following the signing, activities to establish the intraday market officially began at a kickoff meeting with BSP’s representatives. It is expected to become operational by the end of the second quarter of 2026, the CEO recalled.

“The establishment of the intraday market is of crucial importance for greater flexibility and efficiency in electricity trading, particularly in conditions of increased participation of renewable energy sources. It enables market participants to timely adjust their positions and significantly contributes to the reduction of imbalances,” Gjorgjievski said.

Predovnik: Strategically important step

MEMO and North Macedonia took a strategically important step, Predovnik underscored.

“The signing of the contract for the establishment of the intraday electricity market and the implementation of the project to be completed in Q2 2026 mark an important milestone in the country’s integration into the European electricity market. With clear and ambitious guidance, and the strong support of the responsible minister and the ministry, North Macedonia continues to make convincing progress on its path towards full integration into the European electricity market – recognized both in the region and across the EU. The high-performing MEMO and BSP / EPEX SPOT teams, together with the minister and the ministry’s support, provide a powerful and clear guarantee that North Macedonia will be among the first countries in the region to join the single European electricity market,” he said.

Direct benefit for market participants as well as energy stability

North Macedonian Minister of Energy, Mining and Mineral Resources Sanja Božinovska attended the signing of the agreement.

Božinovska stressed the role of the intraday market in flexibility, use of renewables and risk reduction.

“With such concrete projects, we are building market stability, transparency and competitiveness. The ministry actively and continuously supports the institutional and technical readiness of market operators. Our goal is clear – a functional, secure, and European-aligned electricity market. The intraday market brings greater flexibility, improved management of renewable energy sources, and a reduction of systemic risks. This represents a direct benefit both for market participants and for the country’s overall energy stability,” Božinovska stated.

BSP Energy Exchange (BSP Southpool) is wholly owned by ADEX Group, created in a merger with its Serbian counterpart SEEPEX. In December 2024, ADEX completed a merger with the Hungarian Power Exchange (HUPX).