North Macedonia Launches Intraday Electricity Market as Regional Power Trading Evolves

North Macedonia has taken another significant step toward deeper integration with the European electricity market following the launch of its intraday power market by the National Electricity Market Operator (MEMO). The development represents a major advancement in the country’s electricity market liberalization process and strengthens operational flexibility within the regional energy system.

The official launch ceremony gathered senior representatives from the government, energy institutions, market participants, and international partners. The intraday trading platform and clearing infrastructure were delivered by Slovenia’s BSP Energy Exchange, continuing its cooperation with MEMO after supporting the establishment of North Macedonia’s day-ahead market. Intraday trading operates through Deutsche Börse’s M7 trading system, one of Europe’s widely adopted electricity trading platforms.

The introduction of intraday trading comes three years after the launch of the country’s day-ahead market and reflects the increasing sophistication of North Macedonia’s power sector. Intraday markets play a critical role in modern electricity systems by enabling market participants to adjust positions closer to the actual delivery hour. This improves balancing efficiency, reduces imbalance costs, and enhances the integration of variable renewable energy sources such as solar and wind.

Prime Minister Hristijan Mickoski described the launch as evidence of tangible reform progress in the national energy sector. According to him, energy security and resilience have become strategic priorities for all European economies amid accelerating market transformation and geopolitical uncertainty.

“At a time when energy is one of the most critical issues for every country, our obligation is to create a system that is secure, competitive, and resilient to global challenges,” Mickoski stated during the event.

He emphasized that North Macedonia intends to actively participate in European energy flows and policy frameworks rather than remain on the periphery of the continent’s ongoing energy transition.

Minister of Energy, Mining and Mineral Resources Sanja Božinovska underlined that the intraday market is only one phase of a broader market integration strategy. She reiterated the government’s commitment to future market coupling with the European Union and the continued development of regional electricity trading mechanisms.

“This is just the starting point for our full integration into the European energy family,” Božinovska said, adding that authorities will continue advancing regional cooperation and aligning domestic market structures with EU standards.

MEMO Chief Executive Officer Zoran Gjorgjievski highlighted the operational significance of intraday trading in a rapidly changing electricity environment increasingly shaped by renewable generation and real-time balancing requirements.

“From today, our market not only plans for tomorrow – it operates in real time. The intraday market is a direct response to the dynamics of the modern energy sector,” Gjorgjievski noted.

He stressed that transparent and efficient price formation remains essential for optimal resource allocation, prudent investment decisions, and effective risk management across the electricity value chain.

Gjorgjievski also warned that emerging European regulatory frameworks, particularly the Carbon Border Adjustment Mechanism (CBAM), could introduce additional pressure on domestic electricity producers and potentially affect regional market liquidity. While supporting decarbonization objectives, he argued that the energy transition must remain economically sustainable and carefully managed to avoid undermining market competitiveness.

The launch of the intraday market is also viewed as an important preparatory step toward integration into the single European electricity market. Chairman of the Management Board of ADEX Group and CEO of BSP Energy Exchange Anže Predovnik said the project reflects strong institutional cooperation, strategic government support, and MEMO’s operational commitment.

“What lies ahead is integration into the single European market. Together, we will build a more connected and competitive future,” Predovnik stated.

North Macedonia’s intraday market currently includes 21 participants, demonstrating growing interest among regional traders and electricity companies.

According to Martin Martinovski, electricity and statistics expert at the Energy Community Secretariat, the operational intraday market strengthens North Macedonia’s role within the regional balancing framework. As integration with the EU electricity market progresses, the country could increasingly contribute low-carbon flexibility to neighboring systems while benefiting from cross-border balancing support.

Market growth figures indicate a rapid expansion in trading activity since the launch of organized electricity trading in the country. Trading volumes increased from 335 GWh by the end of 2023 to nearly 970 GWh in 2024, before surpassing 1.37 TWh last year. MEMO currently counts forty active market members, while first-quarter 2026 trading volumes were 19% higher compared to the same period a year earlier.

March 11, 2026

by AEA in News

Balkan power play: why the Western Balkans must ditch Russian fuels and fast-track EU market integration

A short, sharp truth: the Western Balkans sits at the crossroads of Europe’s energy security and its green ambitions, but patchy rules, lingering dependence on Russian fuels and slow market reforms mean the region risks being a weak link rather than a bridge. A new working paper from Bruegel lays out what’s at stake and what needs to happen next.

From leverage to liability: Russian ties still matter

Gas pipeline system in the Western Balkans

The report finds that several Western Balkan states remain exposed to Russian energy influence notably Serbia and Bosnia and Herzegovina on oil and gas which leaves them vulnerable to geopolitical pressure and imported price shocks. Negotiations and occasional extensions of Russian contracts in 2024–25 underline that diversification on paper does not always mean real independence. That dependence isn’t just political theatre: it alters investment choices, weakens bargaining power and complicates alignment with EU rules.

Why this matters beyond the region: the Western Balkans is a major transit corridor for electricity between the EU and Southeast Europe. The paper highlights that as much as “up to 70%” of electricity flows tied to the region actually pass between EU countries a signal that grid interdependence already exists and that isolation is neither realistic nor desirable. Faster regulatory alignment and market coupling would therefore strengthen European system resilience as well as the region’s.

Western Balkan electricity imports and exports (TWh), 2020-2024

Market coupling: planned, stalled, urgent

European market coupling the technical and regulatory merging of power markets is the single policy lever that could deliver immediate gains: better price signals, more efficient dispatch across borders, and a buffer against supply shocks. The Bruegel authors point out that integration planned for the mid-2020s (originally aiming around 2027) is running behind because national rulebooks and market institutions in the Western Balkans are not yet aligned with EU standards. That delay has real costs: lost efficiency, higher system operation expenses, and a slower rollout of renewables.

Day-ahead auction average prices (€/MWh), EU, Norway and Western Balkans, 2024

Uneven green progress leaders and laggards

Not all Western Balkan countries are on the same page when it comes to the green transition. The paper singles out Albania as a regional leader largely because of its hydropower legacy and relatively favorable renewables policies and Montenegro as advanced across several indicators. Meanwhile, solar and wind potential across much of the region remains largely untapped and constrained by underdeveloped grids, weak permitting frameworks and scarcity of private investment. Simply put: the natural resource advantage (sun, wind, hydro) is mostly unexploited.

This mix of actors creates both a challenge and an opportunity. Countries with stronger renewables backbones could become exporters and stabilizers for neighbors but only if cross-border trade is enabled and market rules are harmonised.

Domestic electricity prices (€/MWh), EU, Norway and Western Balkans, 2024 and 2014

Coal’s long shadow political economy vs. emissions

Phasing out coal is politically charged across the Western Balkans. Coal still provides baseload power and jobs in several countries, and switching it off without credible compensation or alternative industrial plans risks social backlash. The paper recommends phased, socially sensitive coal retirement plans tied to clear investment pathways for renewables and grid upgrades. In short: decarbonisation must be realistic and sequenced fast where possible, compensated where needed.

Practical steps the paper recommends (and why policymakers should care)

Accelerate regulatory alignment with the EU. Aligning rules is the low-hanging fruit that unlocks market coupling and immediate efficiency gains. Market reforms are technical, but the payoff — lower costs and stronger security — is political and strategic.
Reduce real dependence on Russian fuels. Diversification must go beyond headline contracts. It requires investments in LNG connections, alternative import routes, and faster roll-out of domestic renewables to reduce import vulnerability.
Design a just coal phase-out. Pair plant retirement timetables with retraining, economic revitalisation, and clean-energy investment envelopes so communities are not left behind.
Mobilise private capital for renewables and grids. Improve permitting, de-risk projects with public guarantees, and create transparent auction frameworks to attract the investors the region needs.

Political and financial headwinds plus a window of opportunity

The paper is candid about constraints: weak institutions, fragmented markets, and geopolitical tensions complicate reform. But it also notes a narrow window where EU enlargement dynamics, conditional funding instruments (the EU Growth Plan for the Western Balkans) and post-Ukraine energy policy realignments create momentum and conditional financing that can be leveraged if countries move quickly and coherently.

Electricity generation mix in the Western Balkans, 2014 and 2024

What success looks like

A successful pathway would see the Western Balkans converge with EU market rules, complete market coupling, significantly reduce Russian fuel exposure, and scale renewables deployment while phasing out coal with social protections. Practically, that means lower wholesale price volatility, better utilisation of regional transmission assets, and an energy sector that attracts investment rather than fears it.

Conclusion integration first, transition faster

The Bruegel working paper’s central message is straightforward: the Western Balkans has the geographic and resource advantages to be a strategic partner for Europe’s energy security and green goals but only if the political will to align rules, diversify supplies and invest in renewables is found. Fast-tracking market coupling and decarbonisation in parallel, not in sequence will deliver both security and economic opportunity. For policymakers in Tirana, Sarajevo, Pristina, Podgorica, Skopje and Belgrade, the choice is clear: remain a transit corridor vulnerable to outside influence, or become a resilient, integrated bridge to Europe’s clean-energy future.