SEEPEX to launch Serbian Day-Ahead market on 17 February 2016

Published on 13. December 2016., News

The South East European Power Exchange (SEEPEX) and its project partners today announce the launch of the Serbian Day-Ahead market on 17 February 2016, subject to member readiness. Member tests have been conducted successfully and final regulatory issues are about to be cleared. The launch of the SEEPEX Day-Ahead market will be a major step in the creation of a regional power trading solution for South East Europe (SEE) and is highly anticipated by the electricity market community.

SEEPEX will foster the development of a competitive, transparent and reliable electricity market for Serbia and South East Europe, boosting electricity trading in the entire region. “The Day-Ahead market is the backbone of an efficient power system”, says Milos Mladenovic, Managing Director of SEEPEX. “We are the first to offer a fully-fledged integrated trading and clearing solution in the SEE region, fully compatible with the European Market Coupling initiatives from the start.”

“As shareholders of SEEPEX we are proud to help building the Serbian and regional power market”, add Nikola Petrović, EMS General Manager, and Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT. “A transparent reference price will support the development of the energy sector in the entire region.” Dr. Thomas Siegl, Chief Risk Officer of ECC concludes: “We are pleased that we can support SEEPEX not only as a clearing house, but also that SEEPEX can connect through ECC local customers to the large existing member base of ECC.”

SEEPEX is a joint venture between the Serbian transmission system operator Elektromreža Srbije (EMS) and the European Power Exchange EPEX SPOT. The operations of SEEPEX will rely on the trading system ETS, used by EPEX SPOT for operating its own markets in Central Western Europe. Clearing and settlement will be performed by the clearing house European Commodity Clearing (ECC). SEEPEX members will thus benefit from high-level standards both in terms of trading and clearing services. This also allows for an efficient and fast adherence to existing market coupling initiatives such as the 4M Market Coupling or the Multi-Regional Coupling, already covering 85% of European electricity consumption.

The SEEPEX a.d. Beograd (SEEPEX) is a licensed Market operator for an organized electricity market/power exchange established in the form of partnership between JP EMS and EPEX SPOT as a joint stock company. SEEPEX shall operate an organized electricity market, with the standardized electricity products and delivery within a time frame day-ahead and intraday with the aim to offer these electricity products for trading in Serbia and in the SEE region, where appropriate. SEEPEX will organize markets that are optional, anonymous and accessible to all companies satisfying admission requirements. The SEEPEX objective is to ensure a transparent and reliable wholesale price formation mechanism on the power market by matching supply and demand at a fair and transparent price and ensure that all transactions concluded at SEEPEX are finally delivered and paid. www.seepex-spot.com

The Elektromreža Srbije (EMS) is a public company fully owned by the Republic of Serbia, established under Serbian law in 2005. EMS as the Serbian Transmission System Operator is entitled by the Serbian Energy Law to operate and develop the Serbian transmission network, as well as to establish the Market Operator in charge of the Serbian organised power market. As a full member of the European Network of Transmission System Operators for Electricity (ENTSO-E), EMS is fully committed to the facilitation of the Serbian national power market, as well as its future integration within the regional and internal pan-European power market. For more information: www.ems.rs

The European Power Exchange EPEX SPOT SE and its affiliates operate organised short-term electricity markets for Germany, France, United Kingdom, the Netherlands, Belgium, Austria, Switzerland and Luxembourg; markets representing 50% of European electricity consumption. Striving for the well-functioning European single market for electricity, EPEX SPOT shares its expertise with partners across the continent and beyond. EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff, based in Paris with offices or affiliates in Amsterdam, Bern, Brussels, Leipzig, London and Vienna. More than 280 companies have traded 566 TWh of electricity on EPEX SPOT and its affiliates in 2015. EPEX SPOT is member of EEX Group, part of Deutsche Börse. European electricity transmission system operators hold 49% of EPEX SPOT through HGRT. For more information, please visit www.epexspot.com.

European Commodity Clearing (ECC) is the central clearing house for energy and related products in Europe. In its capacity as the central counterparty ECC assumes clearing as well as physical and financial settlement of transactions concluded on CEGH Gas Exchange of the Vienna Stock Exchange, EEX, EPEX SPOT, HUPX, Gaspoint Nordic, NOREXECO, Powernext and Power Exchange Central Europe, or registered for clearing on these exchanges. www.ecc.de