Source: eKapija | Wednesday, 07.02.2018.| 13:02
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EMS and partners to establish new power exchange for Central and Southeastern Europe

(Photo: Nadezda Murmakova/shutterstock.com)
Elektromreza Srbije (EMS) signed a Memorandum of Understanding envisaging the establishment of an interregional power exchange in Central and Southeastern Europe with four companies today.

As EMS announced, the agreement was signed by representatives of the Southeastern Europe Power Exchange (SEEPEX), the European Power Exchange (EPEX SPOT), the Hungarian Power Exchange (HUPX) and the Hungarian Transmission System Operator MAVIR.

The goal of the Memorandum is the establishment of a joint company that would be an important regional player in the field of spot power trading.

The agreement envisages the merging of HUPX and SEEPEX, the spot power operators in Hungary and Serbia, while keeping strong ties with EPEX SPOT, as the leading carrier of the project, EMS says in its press release.

EPEX SPOT, EMS and MAVIR will be the founding shareholders of this new power exchange. The new exchange will use the services of EPEX SPOT regarding the operation of a Day-ahead market and Day-ahead market coupling activities. The new exchange will be based in Budapest and Belgrade.

The deadlines for the launch of the new power exchange will be disclosed at a later stage of the realization of this project, and the merger between SEEPEX and HUPX will be subject to all regulatory and legal requirements. All five partners agree that the signing of the agreement is an important event when it comes to the integration of the region of Central-Western Europe with the region of the Central-Eastern Europe.

Furthermore, the enhancement of the cooperation between transmission operators and power exchanges in Central-Western, Central-Eastern and Southeastern Europe will also be the main driving engine in the planned cooperation and integration of the SEE region with the single European electricity market.

The project remains open for interested partners looking to join the initiative, which aims to upgrade the process of integration of the spot power market in Central and Southeastern Europe, EMS adds in its press release.

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