Minister of Energy, Mining, and Mineral Resources, Sanja Bozhinovska, visited the National Electricity Market Operator – MEMO, as part of her regular visits to energy facilities and institutions under the Ministry’s jurisdiction.

During the visit, the Minister was briefed on MEMO’s activities, including efforts to advance the organized electricity market in North Macedonia. Particular emphasis was placed on strengthening the Macedonian Power Exchange. The exchange, which began operations on May 10, 2023, provides a competitive electricity market within the country.

“MEMO plays a key role in ensuring energy stability and market transparency. As a Ministry, we fully support this institution in its efforts toward modernization and development, which are crucial for the country’s energy stability and economic growth,” stated Minister Bozhinovska.

The CEO of MEMO, Zoran Gjorgjievski, highlighted that strengthening the Macedonian Power Exchange is a top priority for MEMO to ensure a secure and transparent platform for electricity trading for all market participants.

“Currently, 37 companies trade on the domestic power exchange, confirming its reliability and providing relevant hourly prices. MEMO is already introducing the euro as the trading currency in the first quarter of this year, which will make the exchange more accessible for international electricity trading. This step is also a prerequisite for market coupling with power exchanges in neighboring countries and EU member states. We are also working intensively on developing the intraday market,” Gjorgjievski emphasized.

The Minister was also informed about MEMO’s ongoing activities to implement the plan for issuing GOs. As Gjorgjievski noted, they expect the full implementation of the software in the coming months.

Minister Bozhinovska underlined the importance of establishing and maintaining a register of GOs as a significant mechanism contributing to the energy transition and market trust.

“These mechanisms will ensure greater transparency and competitiveness, which is essential for attracting investments in renewable energy sources and strengthening the economic stability of the energy sector,” the Minister added.

This visit is part of Minister Bozhinovska’s continuous efforts to maintain direct communication with key energy stakeholders to better understand their challenges and needs, as well as to jointly plan future steps to ensure a secure and sustainable energy future for North Macedonia.

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