May 10 (SeeNews) - North Macedonia's National Electricity Market Operator (MEMO) said on Wednesday it has launched the country's first day-ahead electricity exchange.
On the first day of operation, approximately 500 MWh of electricity was traded on the day-ahead market, Simon Shutinoski, director of MEMO, said in a video of the kick-off ceremony streamed by the company on its Facebook page.
By actively buying and selling electricity on the day-ahead market, the country will finally get the wholesale reference price of electricity in North Macedonia, the country's deputy prime minister in charge of economic affairs, Fatmir Bytyqi, said at the ceremony.
The power exchange will initially cover only the national electricity market, until a market coupling with some of the neighbouring countries takes place, MEMO said in an earlier statement.
In 2020, the electricity transmission and market operators of Bulgaria and North Macedonia signed a memorandum of understanding declaring their intention to couple their day-ahead markets by 2022.
The electricity market in North Macedonia was liberalised in 2018.