The Serbian Power Exchange (SEEPEX) has launched its continuous intraday electricity market (25 July).
During the first day of trading, seven transactions were concluded, and the reference base price, representing the average weighted price of all concluded contracts on a daily level, reached a value of 99.53 euros/megawatt hours (MWh). Out of the 20 registered participants in SEEPEX’s intraday market, 16 came from Serbia while the remaining group came from the EU and the Balkan region.
The market’s launch brings “significant benefits” to the overall investment framework, especially in the field of renewables, Serbia’s Mining and Energy Ministry said via a press release.
“By establishing an efficient intraday market alongside the day-ahead market, Serbia has become the first in the region to offer investors in renewable energy sources a fully completed market framework, necessary for optimal positioning in the market and risk control regarding forecasts and balancing. This was one of the most important goals of the Ministry of Mining and Energy, which we achieved through amendments to the Law on the Use of Renewable Energy Sources – greater investor responsibility for balancing the system and providing energy storage in case of poor forecasts,” said Dubravka Đedović, Minister of Mining and Energy.
“We must protect the power system and ensure a stable supply for citizens and the economy, but with regulations that are also stimulating for investors because, besides public investments, we also need private investments to achieve strategic goals in the field of renewable energy sources, i.e., to have 45 per cent of electricity produced from renewable sources by 2030. With the recently launched auctions for granting market premiums for renewable energy sources and now the launch of the intraday electricity market, the majority of prerequisites have been met,” Minister Đedović added.
The launch of SEEPEX’s continuous intraday market is the first “significant and concrete” result of SEEPEX’s synergy within the ADEX Group, the Ministry’s press release noted. At the same time, it represents a “significant step” towards completing the market framework and forming a regional solution for electricity trading in Central and Southeast Europe, the press release added.
Jelena Matejić, General Director of Elektromreža Srbije (EMS) and President of ADEX Group’s Supervisory Board emphasised that the continuous intraday market’s launch “practically completes” the process of establishing a liberalised electricity market in Serbia.
“In the coming period, EMS will continue to work actively and dedicatedly with SEEPEX and European partners, offering ADEX as an efficient model for all future cooperation in the relationship between transmission system operators and electricity market operators, with the merger of the Serbian organised market with the single European market, as the next significant goal,” Ms Matejić added.