April 7 (SeeNews) - Slovenian power trader GEN-I plans to buy up to 10% of SouthPool, a spot power market for the southeastern European region, GEN-I management board chairman Robert Golob said. “The entering of the ownership structure is interesting for us because it enables us to co-operate actively in the development of the bourse, which is attractive for us from a business point of view,” Golob told SeeNews in a recent interview. GEN-I, a joint venture project of Slovenian companies Istrabenz Gorenje and GEN Energija, also plans to participate on the market, Golob said, adding that the idea for participants to own the bourse is the right way and it is also the case with other power markets. Slovenian power exchange Borzen said on Monday it will launch SouthPool, a spot power market for electricity and gas, jointly with Eurex, the international derivatives exchange, within two weeks. Initially, Borzen will hold a 51% stake in SouthPool and Eurex will own 49%. However, the joint venture aims to include a wide range of partners from the region and is open to further shareholders. Borzen and Eurex plan to set up the market with a nominal capital of 1.5 million euro and other partners can enter the shareholders' structure with a stake of up to 10%, Golob said. “With such an offer Borzen has contacted us, and, along with support for the project, we have confirmed to them our intention to enter the ownership,” he said. Golob believes that GEN-I can contribute to SouthPool’s development mainly with its knowledge of the markets in Southeastern Europe. “Therefore, we intend to co-operate actively with transfer of knowledge and experience,” he said. Outside Slovenia , GEN-I is present through its own subsidiaries on the markets of Croatia , Serbia and Hungary. Golob said that SouthPool enters a very fragmented power market where, excluding Slovenia, Romania and Greece, there is no organised way of trading. “It is not only about establishing a regional market but also about establishing organised trading on some internal markets, which can be in this way cheaper and simpler,” Golob said, adding that the existing infrastructure can be also used. Golob said that the main factors which influence the further development of the power market in Southeastern Europe are: the complexity in the cross-border trading, predominantly state ownership in the energy sector, and the fact that power consumption in the region rises strongly while there haven’t been many bigger investments in new energy sources in the last few years. Golob believes that the establishment of SouthPool is a process and he does not expect it to change the power market in Slovenia and Southeastern Europe overnight.
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