National Electricity Market Operator of North Macedonia
MEMO Ltd, the National Electricity Market Operator of North Macedonia was formally established in August 2018 and started operations in October 2019. MEMO is fully owned by JSC MEPSO Skopje, the Transmission System Operator for Electricity of North Macedonia.
On 1 October 2019, a license for organising and managing the electricity market in the Republic of North Macedonia was issued to MEMO Ltd by the NRA, the Energy and water services regulatory commission of the Republic of North Macedonia.
MEMO carries out various tasks as a ‘delegated operator’, including administration of the bilateral electricity market, imbalance settlement calculations and invoicing. In addition, we act as the single buyer and Balancing Responsible Party (BRP) for all supported Renewable Energy Sources (RES) in North Macedonia and provide RES production forecasts.
MEMO has been tasked with establishing an electricity spot exchange (day-ahead and intraday) for North Macedonia and is in the process of becoming a Nominated Electricity Market Operator (NEMO) for future market coupling operations with neighbouring countries.
MEMO’s mission is to provide a secure and transparent trading environment, providing each market participant with fair and equal access to the market.
2005 – Market Operator Unit created as part of JSC MEPSO;
2013 – Electricity Market Operator distinguished as a separate branch in JSC MEPSO;
2018 – MEMO Ltd created in line with the new Energy Law transposing the Third Energy Package;
2019 – License for Market Operator in North Macedonia issued by the NRA;
2020 – To be nominated as a NEMO (Nominated Electricity Market Operator) and go live of the day-ahead market in North Macedonia.