Brussels, 20 May 2025 (MIA) - It is good to hear that the European Union remains optimistic regarding the Western Balkan countries, Minister of Energy, Mining and Mineral Resources Sanja Bozhinovska stated during her speech at the 2nd Electricity Market Integration Forum (EMIF), which took place Tuesday at the European Parliament in Brussels.

“The integration of the Macedonian organized electricity market into the single European market is of strategic importance for the country. The Ministry fully supports the process being carried out by the National Electricity Market Operator (MEMO). This is a serious investment, increased market liquidity, more competitive prices, and greater supply security, which directly impacts economic stability and predictability,” Bozhinovska said at the panel “Expanding the Single European Electricity Market in 2026?”

She emphasized that the country’s market coupling process started in 2017 with the signing of a Memorandum of Understanding for energy connection with Albania, Greece, and Kosovo, followed by Bulgaria. At present, efforts focus on harmonizing national legislation with EU regulations and implementing the market integration plan under the oversight of the EU Agency for the Cooperation of Energy Regulators. 

In the context of the country’s new energy vision, Bozhinovska informed that last week the Parliament adopted the new Energy Law, aligned with EU legislation, thereby laying the foundation for a modern, clean, and fair energy system.

“The creation of a separate Ministry of Energy, as well as the new Law, are proof of the seriousness with which we approach the sector. The Law means more renewable sources, reduced losses, an open market, and a greater role for citizens both as producers and consumers of energy,” she added.

Bozhinovska assessed that integration with the European market can provide protection against the financial impacts of the EU’s Carbon Border Adjustment Mechanism (CBAM), which would mean significant economic benefits for Macedonian companies.

"Because of the uncertainties regarding CBAM's impact, connecting the markets before 2026 was imperative. Even though we are beyond that deadline, realistically we aim for integration between Q4 2026 and Q1 2027," Bozhinovska stated. 

She urged for strengthened cooperation between the EU and candidate countries to speed up market connection, emphasizing that the benefits are shared, ranging from energy security to promoting economic growth.

Bozhinovska stressed that only through enhanced cooperation can we build a stable, integrated European electricity system that serves the interests of all.

The Electricity Market Integration Forum was attended by a delegation from MEMO, together with about 100 representatives from energy exchanges, regulators from the EU and candidate countries, MEPs, and officials from the European Commission.

At the gathering, it was pointed out that the integration of electricity markets will contribute to freeing Europe from energy dependence on third countries, with positive examples highlighted such as the cooperation between our country, Albania, Kosovo, and Serbia, as well as between Montenegro and Italy, and between Serbia and Hungary.

Participants at EMIF pointed out that market coupling in electricity will bring down prices, mainly in Eastern Europe where electricity costs are considerably higher than in Northern Europe, and will help prevent system outages and supply disruptions like those recently experienced in Portugal and Spain.

They also noted that the electricity market connection for candidate countries to the EU market will send a political signal, marking progress in their approach toward the Union and providing momentum to the enlargement process. They emphasized that full integration of these countries into the EU will not be achieved until their electricity markets are linked with the EU’s.

The Forum was organized by the Alpine-Adriatic Danube Power Exchange (ADEX), the first regional electricity exchange in Central and Southeast Europe, together with the Association of European Energy Exchanges (Europex) and the European People’s Party (EPP).

EMIF provides a unique platform to take a political perspective on regional electricity market integration and to advance dialogue among stakeholders and decision-makers.

Photo: Ministry of Energy, Mining and Mineral Resources