As of today, trading in euros has commenced on the Macedonian Power Exchange, marking a key step towards successfully integrating the Macedonian electricity market into the single European market.
The successful implementation of this initiative by the Organized Electricity Market Board was welcomed at today’s meeting. The CEO of MEMO, Zoran Gjorgjievski, emphasized the role of the Board in enhancing the day-ahead market, introducing new products, modernizing, and following global trends in this sector.
“Until now, trading on the domestic electricity exchange was conducted in denars. From today, the euro will be introduced as the currency for all 37 companies participating in the day-ahead market. This paves the way for market coupling with exchanges in neighboring countries and EU member states, which is also a priority for the next two years, along with introducing an intraday electricity market,” Gjorgjievski stated.
The Board is chaired by Hristina Davidovska from Energy Financing Team DOOEL Skopje, who highlighted at the meeting that continuous efforts will be made to follow developments essential for improving the domestic exchange and modernizing electricity trading opportunities.
“At the last Board meeting, we concluded that euro trading should commence in the first quarter of 2025, and today, this has been realized. Together with MEMO’s expert teams, we discussed plans related to market coupling with the unified European market and the introduction of the intraday market, and we believe these will be implemented on schedule,” Davidovska stated.
Members of the Organized Electricity Market Board include Atanas Nastev from GEN-I, Viktor Delov from Danske Commodities DOOEL Skopje, Nikola Ushinov from EVN Macedonia, Antonio Ivanovski from AD ESM Skopje, Natasha Dogramadzieva-Maneva from Energy Active DOOEL Skopje, Ljupcho Najdov from Renewable Energy Supply RES DOO Skopje, Dragan Naumovski from TE-TO AD Skopje, Ioannis Panagiotopoulis and Vladimir Shosholchev from Duferco MK DOO Skopje, who are also participants in the Macedonian Power Exchange.
For nearly two years, the domestic power exchange has ensured security and relevant pricing for every hour of the day. The price signal from the day-ahead market operated by MEMO serves as a crucial indicator for the efficient functioning of the country’s electricity sector.
About the National Electricity Market Operator – MEMO
MEMO is the Electricity Market Operator, integrating multiple functions related to managing the bilateral contract market, incorporating renewable energy sources into the electricity market, and successfully operating the Macedonian Power Exchange since 2023. The establishment of the Macedonian Power Exchange represents a significant step toward modernizing the energy sector.
The first auction for trading electricity on the day-ahead market took place on May 10, 2023. These auctions are conducted daily, with results available on the platform at 10:45 AM and published daily on MEMO’s website.
So far, 37 participants actively trade on the domestic electricity exchange, with nearly 1.5 TWh of electricity traded to date.
