May 18 (SeeNews) - Bulgaria has signed an addendum to a memorandum of understanding signed by six Western Balkan countries to participate in regional electricity market integration and cross-border balancing cooperation, the Vienna-based international organisation Energy Community said on Thursday.
The document, which was signed by Albania, Bosnia and Herzegovina, Montenegro, Serbia, Macedonia and Kosovo in April 2016, refers to day-ahead market integration between the countries, cross-border balancing cooperation and development of the regional market, the Energy Community said in a statement.
"Only a concerted approach to market coupling in South East Europe will bring the liquidity needed to support competition and efficiency in the market, thus maximizing benefits for energy consumers. Drawing artificial boundaries in an already interconnected area stands against the spirit of the Energy Community and the Energy Union," the director of the Energy Community secretariat, Janez Kopac, said in the statement.
The Vienna-based Energy Community was established by an international law treaty in October 2005. As of July 1, 2013, the parties to the treaty are the European Union and Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia, Moldova, Montenegro, Serbia and Ukraine. The key aim of the organization is to extend the EU internal energy market to Southeast Europe and beyond on the basis of a legally binding framework.