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North Macedonia will connect its electricity market with European Union neighbors by 2026.

21 may 2024

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North Macedonia is set to complete the first interconnection of its organized electricity market with neighboring EU member states by the end of 2026, BalkanEngineer.com has learned from BalkanGreenNews.com. This strategic move aims to integrate North Macedonia into the wider European electricity market, a significant step for the country in its quest for EU membership.

 

 

Simon Shutinoski, CEO of the National Electricity Market Operator of North Macedonia (MEMO), highlighted the importance of market integration during the Electricity Market Integration Forum held at the European Parliament in Brussels. Together with representatives of other Western Balkan countries, EU institutions and the Energy Community Secretariat, he discussed plans to integrate the region's energy exchange with the EU. The integration plan is expected to be ready by June this year.

 

The foundation for this integration has been laid through several memorandums of understanding. North Macedonia signed an agreement with Bulgaria in 2018, followed by similar agreements with Greece, Albania and Kosovo last year. Working groups have been established to implement these agreements and technical harmonization efforts are ongoing.

 

Shutinoski noted that connecting to the European energy market will bring significant benefits to both citizens and the business community in North Macedonia. This will facilitate easier access to cross-border transmission capacity and help stabilize electricity prices, ensuring more realistic and competitive prices. It will also offer more opportunities to acquire electricity during peak demand periods.

 

Photo source: canva.com

 

 

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