Brussels, 18 December 2019 | MEMO Ltd, the National Electricity Market Operator of North Macedonia, has joined Europex as an Associate member as of today.
MEMO was formally established on 31 July 2018 and started operations on 1 October 2019.
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.
It already carries out various tasks of a ‘delegated operator’, e.g. imbalance settlement calculations and invoicing. In addition, it acts as the single buyer and Balancing Responsible Party (BRP) for all supported Renewable Energy Sources (RES) in North Macedonia and provides RES production forecasts.
MEMO is fully owned by MEPSO, the Transmission System Operator for Electricity of North Macedonia.
North Macedonia is among the most advanced Contracting Parties of the Energy Community and has passed most of the necessary legislation for the establishment of an EU-modeled electricity market.
With MEMO, Europex now counts 29 member exchanges.