October 1 (SeeNews) - Slovenia-based BSP Regional Energy Exchange, operating under the SouthPool trademark, said it has signed a letter of intent with Macedonia’s ELEM for cooperation on the power producer's domestic market.
“By the end of 2009, the partners aim to establish the trading infrastructure for the new Macedonian energy market. This is another important step to enter new markets on the Balkans alongside serious dialogues with partners in all Western Balkan states," BSP said in a statement posted on its website on Wednesday.
"With the signed letter of intent, BSP SouthPool has committed itself to expand its trading into new markets of SEE [southeast] Europe," it added.
BSP currently has 21 members on the Slovenian and Serbian markets. By the end of September, the total trading volume on the Slovenian and on the Serbian market has reached 10.448 megawatthours (MWh), the total volume of entered orders was 321.788 MWh, the statement also said.
BSP also said that a market coupling project on the Slovenian-Italian border is in progress and is expected to be completed in the second quarter of 2010.
"Once in place, BSP expects that it will have a significant impact on liquidity on the Slovenian market," the statement said.
BSP Regional Energy Exchange LLC, set up in 2008, is owned by Slovenian power market operator Borzen and Eurex, the international derivatives exchange, and aims to be the leading regional cross-border energy exchange in SEE with a spot and derivatives market for electricity, gas, and associated energy products.