Written by: Aleksandar Ristovski, Head of Electricity Market Management DepartmentNational Electricity Market...
The National Electricity Market Operator – MEMO LLC, Skopje, today officially signed an Agreement with the Slovenian BSP Energy Exchange, selected as the economic operator for the provision of trading platforms and a clearing platform for the electricity markets in the day-ahead and intraday segments.
The Day-Ahead Market in North Macedonia has been successfully operating since May 10, 2023, when trading on the organized electricity market commenced. Since then, cooperation between MEMO and BSP has recorded continuous growth. Through partnership, the Intraday Market is expected to be established by the end of the second quarter of 2026.
The Agreement was signed in the presence of the Minister of Energy, Mining, and Mineral Resources, Sanja Bozhinovska, by Zoran Gjorgjievski, CEO of MEMO, and Anže Predovnik, Chairman of the ADEX Management Board and CEO of BSP.
With this Agreement, MEMO makes a significant step forward towards enhancing the functionality of the organized electricity market and preparing it for future integration with the Single European Electricity Market.
“This Agreement represents a continuation of the cooperation with BSP and EPEX SPOT, and an important step in the development of the Macedonian power exchange, as well as in strengthening its technical and institutional readiness for market integration with the European Union. Partnering with a renowned exchange such as BSP and EPEX SPOT, with whom we have already established cooperation based on trust and proven results, confirms our commitment to a transparent, reliable, and efficient market,” stated the CEO of MEMO, Gjorgjievski.
He added that following the signing of the Agreement, a kick-off meeting with BSP representatives officially launched activities to establish the Intraday Market, which is expected to become operational by the end of the second quarter of 2026.
“The establishment of the Intraday Market is of crucial importance for greater flexibility and efficiency in electricity trading, particularly in conditions of increased participation of renewable energy sources. It enables market participants to timely adjust their positions and significantly contributes to the reduction of imbalances,” emphasized Gjorgjievski.
Predovnik highlighted the importance of cooperation with MEMO.
“MEMO and North Macedonia have today taken a significant and strategically important step towards the integrated European electricity market. The signing of the contract for the establishment of the intraday electricity market and the implementation of the project to be completed in Q2 2026 mark an important milestone in the country’s integration into the European electricity market.
With clear and ambitious guidance, and the strong support of the responsible Minister and the Ministry, North Macedonia continues to make convincing progress on its path towards full integration into the European electricity market—recognized both in the region and across the EU. The high-performing MEMO and BSP/EPEX SPOT teams, together with the Minister and the Ministry’s support, provide a powerful and clear guarantee that North Macedonia will be among the first countries in the region to join the Single European electricity market.
This is our joint and strong commitment, built on expertise, trust, and excellent partnership. I am proud that both I and my skilled BSP team are part of this milestone project,” stated Predovnik.
The Minister Bozhinovska emphasized that the establishment of the Intraday market represents a crucial step toward modernizing the Macedonian energy sector and its genuine integration into the European market.
“With such concrete projects, we are building market stability, transparency, and competitiveness. The Ministry actively and continuously supports the institutional and technical readiness of market operators. Our goal is clear – a functional, secure, and European-aligned electricity market. The Intraday market brings greater flexibility, improved management of renewable energy sources, and a reduction of systemic risks. This represents a direct benefit both for market participants and for the country’s overall energy stability,” emphasized Bozhinovska.
With the implementation of this Agreement, MEMO will continue its activities aimed at developing the organized electricity market, promoting regional cooperation, and achieving full integration into the European energy market area.