Wednesday, 17 October 2018 | News today: 4

Regional market to cut electricity bills of consumers

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A single electricity market is the best way to increase transparency and competitiveness among market stakeholders – producers, suppliers and traders – because rules apply for all. Competitiveness creates room for technological innovations and new investments, resulting in competitive electricity prices for consumers, said Prime Minister Zoran Zaev at the opening of a regional forum of transmission system operators from Southeast Europe, which takes place in Ohrid on Friday.

PM Zaev said the meeting is important because of its objective, which is creating a single electricity market and its inclusion in the pan-European electricity market.

“The list of forum participants, the presence of general managers, board chairs of transmission system operators from Macedonia, Albania, Serbia, Bulgaria, Greece, Kosovo, Bosnia-Herzegovina and representatives from Croatia and Slovenia demonstrates the significance of the meeting and the resulting initiatives,” added Zaev.

Vice Premier for Economic Affairs Koco Angjusev said the Ohrid meeting is the first step on the road to creating a regional electricity market.

“The ultimate goal of all activities is to reduce the electricity prices in the region and equaling it with that in Europe. Although more developed and richer, Europe presently has a lower electricity price compared to the regional one. Price cuts depend solely on investments in the energy transmission system and good cooperation in the region. Once we topple administrative barriers and invest in capacities, the market will do its job and the price in Europe will balance,” said Angjusev.

According to him, all countries in Southeast Europe have their own stock exchanges, but the volume of their operations is insignificant. Macedonia is resolving this issue through the new energy law, which provides for additional liberalization and creation of an organized electricity market.

“We are trying to make a step forward and make a coupling of the Macedonian and Bulgarian electricity markets, meaning leveling of electricity prices,” stressed Angjusev.

Electricity Transmission System Operator of Macedonia (MEPSO) general manager Saso Vasilevski said Macedonia must abide by EU recommendations as a Union candidate country.

“The slogan of this meeting ‘Borders become Bridges’ and the presence of all regional entities in the field aims at achieving the goal of lower electricity prices,” said Vasilevski.

Forum discussions focus on enhancement of cooperation among regional electricity transmission operators, prior achievements and implementation of European regulations.