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Print articleKaranović & Nikolić Plays A Role In The Launch Of SEEPEX
February, 2016 - Tanja Unguran; Maja Jovancevic Setka
Following the creation of the regulatory framework and the
successful passing of required tests, the first organised electricity market in
Serbia, ("SEEPEX"), has officially launched its operations on 17
February, 2016. This power exchange operator was set up jointly by Elektromreže
Srbije, the Serbian state-owned power system, and the European Power Exchange
(EPEX SPOT SE).At the same time, SEEPEX presents the first organised
electricity market in the non-EU member states of South-East Europe and is operating
for now as a Day-Ahead electricity market, with 1.925 MWh traded on its first
day.As noted in the SEEPEX public press announcement, the introduction of
SEEPEX has been highly anticipated in the electricity market community as it is
expected to be a big step towards creating a regional power trade market in
Southeastern Europe. It builds on the successful linking of the electricity
markets in North-West Europe and South-West Europe in May 2015, and integrates
the country and the region into the uniformed EU power market.Furthermore,
European Commodity Clearing AG (ECC) – headquartered in Germany – was appointed
as the central clearing house for SEEPEX. The assignment of ECC will be to
perform clearing and financial settlement services for the participants via its
general clearing members, including KELER CCP Ltd – a licensed central
counterparty majority owned by the Central Bank of Hungary.We are very proud to
announce that Karanović & Nikolić has assisted KELER CCP in successfully
implementing the clearing arrangement, in co-operation with OTP Bank Serbia and
SEEPEX. The work on this project was spearheaded by partners Maja Jovančević
Šetka and Tanja Unguran. KELER CCP will service both domestic and foreign
participants on SEEPEX by providing clearing and guarantee undertaking to
energy market traders.Elsewhere in the region, similar Day-Ahead power
exchanges have already been launched in Bulgaria and Croatia.
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