Electricity

SEEPEX completes organized electricity market in Serbia with intraday trading platform

seepex intraday market go live

Photo: Reginal from Pixabay

Published

July 26, 2023

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Published:

July 26, 2023

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SEEPEX said yesterday’s launch of the Serbian continuous intraday electricity market was a success.

Sixteen out of twenty registered participants in the domestic intraday market were active on the first trading day, representing participants from Serbia, the surrounding countries, and the European Union, SEEPEX said.

Seven transactions were closed, and the daily reference base price, which is the average weighted price of all closed transactions, came in at EUR 99.53 per MWh.

The go-live marks the first significant and concrete result of the synergy created within the ADEX Group

The first registered transaction on the Serbian continuous intraday market was concluded at 10:09:10, for a 1 MW contract with physical delivery for between 21:00 and 22:00.

The go-live of the SEEPEX continuous intraday market marks the first significant and concrete result of the synergy created within the ADEX Group and the continuation of providing top-notch services to market participants in line with the best European practices in trading and clearing solutions, according to the exchange.

It also represents a significant step towards completing the market framework and establishing a single regional solution for electricity trading in Central and Southeast Europe, one of the primary goals of the newly formed and growing ADEX infrastructure, being the progress eagerly awaited by all stakeholders in the electricity market.

Mladenović: SEEPEX continues to push boundaries

“SEEPEX, this time in collaboration with partners from the ADEX Group, continues to push boundaries and provide the highest European standards in the power exchange business infrastructure. At the same time, this is an important additional boost for the electricity market in Southeast Europe since SEEPEX is the first organized market in the region to complete all aspects of an organized market, including the Serbian futures market, established a couple of years ago in collaboration with EEX AG,” said Miloš Mladenović, Managing Director of SEEPEX and a member of the ADEX Group Management Board.

Matejić: The next major goal is to connect the Serbian organized market with the single European market

Jelena Matejić, General Manager of Serbia’s transmission system operator Elektromreža Srbije (EMS) and President of the Supervisory Board of the ADEX Group, said the successful go-live of the Serbian continuous intraday market represents the completion of establishing a liberalized electricity market in Serbia and called it one of the most important factors for the safe and reliable operation of the entire power system.

The next major goal is to connect the Serbian organized market with the single European market, she added.

Apart from the incontestable importance for market participants, the milestone brings significant benefits to the overall investment framework, especially in the field of renewable energy sources.

Đedović: Serbia is the first in the region to offer investors in renewable energy sources a full market framework

According to Dubravka Đedović, Minister of Mining and Energy, by establishing an efficient intraday market, in addition to the day-ahead market, Serbia is the first in the region to offer investors in renewable energy sources a full market framework, necessary for optimal market positioning and risk control regarding the forecasts and balancing.

“This was also one of the most significant goals of the Ministry of Mining and Energy, which we achieved by amending the Law on the Use of Renewable Energy Sources – i.e. greater responsibility of investors for balancing the system and providing energy storage in case of bad forecasts. We need to protect the electricity system and ensure a stable supply of citizens and the economy, but with regulations that are also stimulating for investors, because in addition to public investments, we also need private investments to achieve strategic goals in the field of renewable energy sources,” Đedović stressed.

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