About Us

This entails implementing a procedure for registration of new participants and keeping records of all contracts concluded with participants in the electricity market, including keeping a register of market participants. MEMO also prepares a daily market plan and records the concluded transactions on the market of bilateral contracts according to the final physical schedules received from the participants. In addition, MEMO constantly monitors the conditions and phenomena of the electricity market in order to prevent non-competitive behaviors and enable a transparent and competitive trading environment for all market participants and regularly and timely publishes all the information necessary for the smooth functioning of the electricity market and the development of competitive relations.

MEMO calculates the monthly imbalances of the balance-responsible parties and prepares a proposal for the calculation of the cost of the imbalances for every balance-responsibility party, according to the electricity measurements received from the operator of the electric transmission system and the operator of the electric distribution system, in order to implement financial settlement of agreed and realized transactions in the electricity market. At the same time, MEMO keeps records of all Agreements for the formation of balancing groups that have been concluded between MEMO and participants in the electricity market and records all changes regarding the membership of participants in a specific balancing group such as: accession of new members, transfer of members from one into another balance group and exclusion of members at the request of the balance responsible parties.

MEMO is the balance responsible party for preferential producers with preferential tariffs for the production of electricity from renewable sources. As BOS, MEMO performs production forecasts and buys all produced electricity produced by PPEEPT and sells it according to the Methodology provided in the rules for the electricity market.

MEMO also maintains the register of all preferential producers who use a preferential tariff for the production of electricity from renewable sources.

Part of the activities carried out by MEMO is a constant monitoring of changes in the energy regulation and active participation in the creation of the regulation related to the electricity market in the Republic of North Macedonia. As an electricity market operator, it cooperates with operators of electricity markets in other countries and is involved in all regional and international organizations and associations that are of interest to MEMO’s work and the development of the electricity market in the Republic of North Macedonia.

The focus of MEMO, in terms of development of the electricity market, is the establishment of an organized day-ahead trading market. This project started as an initiative of the Secretariat of the Energy Community for the establishment and integration of day-ahead electricity markets in the countries of the Western Balkans and now full responsibility of MEMO.

In direction of achieving this goal, MEMO was appointed as the Operator of the organized electricity market by the Government of the Republic of North Macedonia, and started the implementation of activities for fulfilling the necessary technical conditions that will enable the establishment of an organized electricity market energy in the Republic of North Macedonia

MEMO is a full member of Europex, the Association of European Energy Exchanges that represents the interests of European electricity and gas market operators.

In the context of its membership, MEMO actively participates in several working groups and task forces and helps to further shape European energy regulation at EU and Energy Community level.

The EMI working group was created by USEA and USAID, the operators of the electricity transmission systems and the operators of electricity markets in South-Eastern Europe.

The goal of the working group is the exchange data and the preparation of analyzes between system operators, electricity market operators and regulators, as well as other participants in the electricity markets, enabling a faster transition and integration of the electricity markets in the region.

This project is a continuation of the initiative of the Secretariat of the Energy Community for establishment and integration of a day-ahead electricity markets in the countries of the Western Balkans.

As a result of the Memorandum of Cooperation, signed by the system operators (MEPSO and ESO) and the operators of the electricity market (MEMO and IBEX) of the Republic of North Macedonia and the Republic of Bulgaria, a working group is being formed to implement the merger activities on the organized markets between the two countries.