On Wednesday 23 June 2021, a Memorandum of Understanding (MoU) between the three organisations was signed in Athens: Polish Power Exchange (Towarowa Giełda Energii, TGE), Hellenic Energy Exchange Group and Romanian Commodities Exchange (Bursa Romana de Marfuri).
The Memorandum symbolizes common willingness to promote fruitful and long-term cooperation for the mutual benefit of all three organizations: Polish Power Exchange (TGE), Hellenic Energy Exchange Group and Romanian Commodities Exchange.
As noted by Piotr Zawistowski, President of the Management Board of TGE, the Memorandum will start the cooperation between three different markets from north to south of the CEE and SEE, which in his opinion will help create added value of electricity and gas markets in this part of the continent.
The document creates a framework for the Parties to evaluate opportunities in the field of energy exchanges (natural gas and electricity) and identify areas of practical work to improve and create new services to market participants. Given the interest and upcoming developments of the gas markets in Europe, and specifically in East and South East Europe, the Memorandum lays out a set of objectives and opens the way for combined efforts and endeavours which will add value to the market environment.
Professor George Ioannou, President of the Hellenic Energy Exchange Group, observed that the Memorandum is the expression of a long-standing spirit of cooperation between the three parties and a roadmap that will be developed with further action which will promote innovative and sustainable solutions.
Gabriel Purice, President of the Romanian Commodities Exchange, expressed his confidence in the cooperation in the expectation that the promoted ideas and solutions will successfully facilitate more efficient use of regional resources. He also pointed out that the initiative represents an attractive model which other regional Central and Eastern European players would be interested to join.