ALPEX opts for ProCredit as the only settlement bank for transactions and a general member of clearing.
Recently, the global energy market has undergone huge changes. Therefore, in Kosovo too, advancing this market is increasingly a priority.
On 4 March 2024 a monumental step was taken with the country’s journey towards a more sustainable energy transition in Kosovo. ALPEX – Albanian Power Exchange was rendered functional as the operator in charge of managing and administering the Daily and Within the Day Markets (ALPEX Markets). ALPEX will operate in the organized electric energy market (of the advance day and within the same day) in Albania and Kosovo. This important initiative, which requires the highest level of security and efficiency, was entrusted to ProCredit Bank to represent two important roles in this process.
ProCredit Bank will fulfil its role as a Settlement Bank to realize financial transactions in this new market. This process is key to rendering functional the daily operations of ALPEX. In its role as a Financial Transactions Settlement Bank, ProCredit is the first bank and the only one in charge of settling all transactions to take place under the energy stock market. The success of a program like ALPEX radically depends on the accurate processing of transactions, therefore, ProCredit Bank is committed in its role as a trusted mediator by managing transactions, minimizing risk, and ensuring that transactions are in alignment with the requirements and standards set by the regulators.
Additionally, ProCredit Bank was chosen as a General Member of Clearing for ALPEX, providing guarantee for a sustainable functioning of the stock market and ensuring payments for energy transactions are made accurately and in time for all market participants. Currently, the ProCredit Bank is the only bank in this sector to represent businesses that will be members of the stock market and licensed for trading. A key point in this activity is the guarantee by the bank for the ALPEX stock market, so that payments for clients we represent in selling or buying energy are conducted in time and accurately.
The rendering of ALPEX functional is a very important step for the energy market in Kosovo, advancing us towards a future with fewer energy crisis and more opportunities for economic development. This event showcases the continued commitment of ProCredit Bank to support the energy transition towards a more sustainable future of the energy for all citizens and businesses in Kosovo.
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