In October 2025, North Macedonia’s day-ahead electricity market demonstrated remarkable growth, with trading volume surging by an impressive 81.7% year-on-year to reach 146,498 MWh. This significant uptick in activity, which also represents a 43% increase compared to the previous month, underscores the market’s growing maturity and importance. The timing of this milestone is particularly noteworthy, as it coincides with Skopje’s role as the host city for the World Energy Forum 2025, placing the nation at the center of the global energy dialogue.
MEMO’s Day-Ahead Market for North Macedonia power trading
The day-ahead electricity market, operated by the state-owned company MEMO, stands as the sole power exchange in North Macedonia. In October, the market handled a total trading volume of 146,498 MWh, translating to a new record average daily volume of 4,725.7 MWh. This represents a significant leap from previous months and is attributed to heightened activity among the market’s 17 participants.
This surge is partly fueled by the country’s expanding renewable energy portfolio, including recent successes in solar energy generation. The growth in local green energy production highlights the importance of a robust domestic supply chain, from the basics of solar panel manufacturing to the complete solar panel manufacturing process. MEMO reported that the day-ahead market, which has been operational since May 2023, is successfully enhancing regional power market connectivity and stability.
Price Trends and Market Dynamics in North Macedonia power trading
Alongside the surge in volume, the average market-clearing price on the day-ahead market rose to 125.67 euros per MWh in October, a sharp 37.1% increase from September. Despite this significant rise, prices in North Macedonia have remained competitive when compared to neighboring markets. For instance, average prices on the Hungarian Power Exchange (HUPX), the Slovenian Power Exchange (BSP SouthPool), and the Serbian Power Exchange (SEEPEX) were recorded at 128.35 euros, 130.79 euros, and 129.72 euros per MWh, respectively.
This price competitiveness is crucial for the region’s economic stability. As the country continues to build out its renewable capacity, understanding the investment landscape is key. A detailed solar panel manufacturing plant cost breakdown and knowledge of the required solar panel manufacturing machines are vital for investors aiming to contribute to this growth. The strategic use of essential raw materials in local production can further influence long-term energy price stability.
The record-breaking volume and dynamic pricing in October represent a major milestone, signaling increased liquidity and confidence in North Macedonia’s electricity market.
Future Expansion Plans for North Macedonia power trading
These record numbers come as North Macedonia continues to push forward with its regional electricity market expansion. MEMO has signed agreements with Albania’s ALPEX and Kosovo’s KOSTT to establish a joint market, with KOSTT expected to join the existing ALPEX market by the end of the first quarter of 2026. Furthermore, North Macedonia plans to merge with the Bulgarian IBEX power exchange, with the integration process set to begin in early 2025.
This regional integration is a key component of the impressive Balkans energy transition, which is supported by international partners to enhance energy security and promote the adoption of renewables. The nation’s commitment is further demonstrated by concrete actions, such as the recent tender for 30 MW of solar power plants, which aligns with its broader strategy to increase Macedonia renewable energy output.
The remarkable growth of North Macedonia’s day-ahead electricity market reflects the country’s dedicated efforts to modernize its energy sector and integrate with its neighbors. With ambitious expansion plans on the horizon, the market is poised to become an increasingly vital player in the regional energy landscape.
For those interested in delving deeper into the technologies driving this energy revolution, our free e-course on solar panel manufacturing offers a comprehensive overview.
