Clearing Service in North Macedonia
BSP and EPEX have successfully joined forces once again for the establishment of the North Macedonian Day-ahead market with the Macedonian Electricity Market Operator (MEMO), building on their knowledge and expertise of a parallel project.
The MEMO chose the EPEX-BSP consortium as the most favourable service provider among the four competitors.
BSP and EPEX collaborated with MEMO to develop a comprehensive plan for the implementation of all necessary components of the Day-ahead market to ensure that all aspects of the market were considered.
BSP provided a clearing solution and coordinated the overall design of the project, including the technical specifications of the clearing application and the creation of a detailed plan for testing the localized clearing solution. Joint efforts ensured that the clearing process was efficient, effective, and met all necessary requirements.
The Macedonian power exchange started initial operations in an isolated mode, with plans for day-ahead market coupling with other countries in the region.
This strategic move by MEMO is aimed at enhancing the efficiency and reliability of the power exchange, while also promoting regional cooperation in the energy sector. The coupling of day-ahead markets will enable the exchange of electricity between countries, thereby facilitating the optimal utilization of available resources and reducing costs. As such, the Macedonian power exchange is poised to play a pivotal role in the development of a robust and sustainable energy market in the region.
The Macedonia day-ahead market with the clearing solution became operational on May 10, 2023.
Clearing Service in Montenegro
In 2022 EPEX and BSP partnered with Montenegrin exchange BELEN for the establishment and operation of the Montenegrin Day-ahead market and the clearing of the exchange transactions. This strategic alliance was formed with the objective of leveraging the expertise and knowledge of all parties involved, in order to create a robust and efficient market that would benefit all stakeholders.
BSP and BELEN worked closely together to ensure the successful implementation of the clearing solution. They collaborated on the overall design, technical specifications, and testing plan for the clearing platform. The two organizations put in a lot of effort to ensure that the clearing solution was designed to meet a high standard of quality and functionality. Their joint efforts resulted in a robust and reliable clearing solution that met the needs of their clients.
The introduction of the Montenegrin Day-ahead market marks a significant advancement towards a more transparent and efficient electricity market. This market benefits both consumers and producers by ensuring fair prices, a secure and reliable electricity supply, and greater integration of renewable energy sources.
Consumers can expect access to more accurate and timely information about electricity prices, enabling them to make informed decisions about their energy consumption. Conversely, producers will have a more stable and predictable market, which will encourage investment in renewable energy sources and ultimately lead to a more sustainable energy future.
The implementation of this market holds great promise for the future of the energy industry in Montenegro.
The day ahead market with clearing solution became operational on April 26, 2023.
Intraday Market in Serbia
In September 2022, SEEPEX partnered with BSP to launch a project to establish a Serbian Intraday Continuous market. The ADEX Group's synergy has produced its first significant and concrete result.
The main scope of the project was the provision of a platform for the continuous trading of electricity in Serbia, thereby enhancing the efficiency and reliability of the country's energy market.
Through the partnership, valuable knowledge and skills have been transferred, significantly contributing to the advancement of the Serbian energy market.
Serbian Intraday Market operates on the M7 trading system, which is also utilized by several power exchanges in Europe, while the European Commodity Clearing (ECC) provides clearing and settlement of transactions.
The launch of the Serbian Intraday Continuous market is a great achievement that demonstrates the persistent growth of the Serbian energy market.
New market enables energy traders to buy and sell electricity in real-time, providing greater flexibility and efficiency in the management of energy supply and demand. With the introduction of the new platform, the Serbian energy market is poised to become even more dynamic and competitive, offering new opportunities for producers and consumers alike.
