SEEPEX

⚡ Today marks a major shift in the Serbian power market - 𝗻𝗲𝗴𝗮𝘁𝗶𝘃𝗲 𝗽𝗿𝗶𝗰𝗲𝘀 𝗮𝗿𝗲 𝗼𝗳𝗳𝗶𝗰𝗶𝗮𝗹𝗹𝘆 𝗴𝗼𝗶𝗻𝗴 𝗹𝗶𝘃𝗲!

This morning we hosted Radio Television of Serbia (RTS), where our Miloš Mladenović shared his insights on this important development.

Negative prices, a phenomenon that until recently seemed unimaginable, are now becoming a reality in the Serbian electricity market.

What does this mean for producers, traders, and end consumers?
Who actually benefits when prices drop below zero?

The full article and video are available below 👇

Negativne cene struje stigle u Srbiju – šta to znači i ko ima koristi Srpska berza električne energije Sepeks prvi put počinje primenu i negativnih cena. Izvršni direktor Sepeksa Miloš Mladenović rekao je za RTS da je to posledica specifičnosti električne energije kao robe koja se u isto vreme kada se proizvodi mora i potrošiti. Od povećanja obnovljivih izvor...

📈 ADEX Group continues its growth trajectory

Total traded volumes across the Group have increased by over 32% between 2023 and 2025, marking a strong step forward in the development of our regional electricity markets.

This growth reflects increasing liquidity, stronger market participation, and continued progress in market integration across the region.

We remain focused on building efficient, transparent, and well-connected markets that support the energy transition. ⚡

Sa razvojem obnovljivih izvora energije, energetski sistem u Srbiji se ubrzano menja, što jasno ukazuje na potrebu primene novih tržišnih modela poput dugoročnih PPA aranžmana, daljeg razvoja baterijskih sistema za skladištenje energije, kao i ulaganja u data centre.

O ovim temama, kao i o konceptu uvođenju negativnih cena u Srbiji, govorilo se na sednici Saveta za održivu energetiku u NALED-u, kojoj je prisustvovao i naš Miloš Mladenović.

Opširniju vest možete pogledati na linku ispod.

NALED | Negativne cene električne energije prvi put na srpskoj berzi od 5. maja Od 5. maja će se na srpskoj berzi električne energije SEEPEX prvi put naći u primeni negativne

The 41st International Conference "𝗘𝗡𝗘𝗥𝗚𝗘𝗧𝗜𝗞𝗔 𝟮𝟬𝟮𝟲" starts today in Zlatibor, co-organized by the Association of Energy Sector Specialists and Joint stock company "Elektroprivreda Srbije".

Our , Dejan Stojcevski, will participate as a panelist in the session “𝙏𝙝𝙚 𝙉𝙚𝙬 𝙀𝙣𝙚𝙧𝙜𝙮 𝙍𝙚𝙖𝙡𝙞𝙩𝙮 – 𝙀𝙡𝙚𝙘𝙩𝙧𝙞𝙘𝙞𝙩𝙮 𝙎𝙩𝙤𝙧𝙖𝙜𝙚 𝙎𝙮𝙨𝙩𝙚𝙢𝙨” 🌍🔋, which focuses on the role of energy storage in accelerating the energy transition.

As the of continues to accelerate, storage technologies are becoming a key enabler of .

The panel will gather experts to discuss how these systems can shape and strengthen the future of the regional power sector.

The discussion is scheduled for tomorrow, April 17, from 12:00 to 13:30. ⚡

𝑾𝒊𝒔𝒉𝒊𝒏𝒈 𝒚𝒐𝒖 𝒂 𝒑𝒆𝒂𝒄𝒆𝒇𝒖𝒍 #𝑬𝒂𝒔𝒕𝒆𝒓!

🚨 𝗡𝗘𝗚𝗔𝗧𝗜𝗩𝗘 𝗣𝗥𝗜𝗖𝗘𝗦 𝗔𝗟𝗘𝗥𝗧🚨

We are pleased to announce that prices will be introduced on the SEEPEX organized market in May 2026.

The introduction of negative prices on SEEPEX represents an important step in market development, providing better price signals in the market. It also prepares the Serbian electricity market for integration into the EU coupled market and aligns national legislation with EU standards and practices.

The introduction will be subject to successful test completion and comprise as follows:

☑️ 𝗗𝗮𝘆-𝗔𝗵𝗲𝗮𝗱 𝗠𝗮𝗿𝗸𝗲𝘁
The first auction day with negative prices will be 5 May 2026, with delivery day 6 May 2026.

☑️ 𝗜𝗻𝘁𝗿𝗮𝗱𝗮𝘆 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗼𝘂𝘀 𝗠𝗮𝗿𝗸𝗲𝘁
Trading with negative prices for contracts with delivery on 6 May 2026 will be possible only after 23:00 CEST on 5 May 2026.

☑️ 𝗣𝗿𝗶𝗰𝗲 𝗕𝗼𝘂𝗻𝗱𝗮𝗿𝗶𝗲𝘀
The current 0 EUR/MWh price floor will be adjusted to -500 EUR/MWh for Day-Ahead Market and to -9,999 EUR/MWh for the Intraday Market, which is the Harmonized Minimum Clearing Price standard utilized across the EU.

𝗩𝗔𝗧 𝗧𝗿𝗲𝗮𝘁𝗺𝗲𝗻𝘁

➡️ Under Serbian VAT law, a “negative price” is recognized as consideration for the supply of a service.
➡️ The obligation to pay VAT in Serbia (currently 20%) will apply only to companies registered in Serbia that sell electricity at negative prices on the SEEPEX organized market.
➡️ Foreign companies are required to address VAT treatment in accordance with the legislation applicable in their country of registration.

Still summing up impressions from Montel CSEE Energy Day in ! ⚡

The conference brought together energy from across the to exchange views on some of the most pressing developments shaping European power markets.

Our CEO Milos Mladenovic had the pleasure of joining the panel "𝟭𝟱-𝗺𝗶𝗻𝘂𝘁𝗲 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝘀𝗵𝗶𝗳𝘁 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗺𝗮𝗿𝗸𝗲𝘁 𝗽𝗹𝗮𝘆𝗲𝗿𝘀", where we heard valuable perspectives on how the introduction of this product has affected markets across the EU, with reference to markets, BSP Energy Exchange LL C and HUPX Hungarian Power Exchange Ltd.. In Serbia, the 15-minute MTU product will be introduced together with the first day of market coupling, expected in Q1 2028.

One of the key takeaways from the discussion was that in the past two months the effect of has been so significant that it has, to some extent, blurred the market signals of the 15-minute MTU product itself.

The implementation of CBAM has created a strong disturbance in regional market dynamics, making it more difficult to clearly isolate the effects of shorter trading intervals, emphasized Milos Mladenovic.

As European power markets continue to evolve, the interaction between regulatory changes and market design will remain a key factor shaping trading dynamics across the region.

A big thank you to Montel for the excellent organization and a great venue that provided the perfect setting for productive discussions. 👏

Join us on 𝟱 𝗠𝗮𝗿𝗰𝗵 𝗶𝗻 𝗔𝘁𝗵𝗲𝗻𝘀! 🇬🇷

Our Milos Mladenovic will be speaking at the Montel CSEE Energy Day 2026, hosted by Montel .

He will join fellow experts on the panel: “15-minute trading shift and the impact on market players”, discussing what this transition means for , , and the of regional power markets.

The shift is not just technical-it’s strategic!

See you in !⚡️

Looking to connect with our experts and discuss the most relevant topics in the energy industry? Make sure to stop by our booth at E-world.

And if you’re also on the hunt for the cutest giveaway at the event 🐂, we’ve got you covered - plus a foosball table waiting for anyone passing by. 😉

Haven’t booked a personal meeting with our team yet? Don’t hesitate - check out the available time slots here: https://linktr.ee/adexspot

BSP Energy Exchange LL C
HUPX Hungarian Power Exchange Ltd.
SEEPEX A.D.