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- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
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This analysis includes a comprehensive North Macedonia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
- The NECP targets a share of 38% of renewables in the final consumption in 2030 and 42% in 2040.
- ESM, a state-owned company, represents around 3/4 of total power production.
- Most of the oil and gas supply is controlled by private companies.
- Lignite represents more than half of the power mix.
- The country is fully dependent on oil and gas imports.
- Oil and gas prices follow international prices.
- Electricity prices are much lower than the EU average (over 60% for households).
- The energy consumption per capita is more than two times lower than the EU average.
- Oil and lignite dominate the energy mix, despite a marked decline for lignite.
- The country is developing several power and gas interconnection projects.
- More than 1.8 GW of new capacity could be installed after 2025 (mainly renewables).
lowest energy consumption per capita in Europe
of the power mix from lignite in 2020
share of oil in final energy consumption (2020)
Institutions & Energy Policy
North Macedonia is a small republic resulting from the break-up of former Yugoslavia, independent since 1991. It changed its name in 2019 from FYROM (Former Yugoslav Republic of Macedonia), ending a decades-long dispute with Greece. North Macedonia aspires to join the European Union (EU) and, accordingly, is in the process of harmonising and privatising its energy sector.
Oil supplies are covered by imports. North Macedonia ended crude oil imports in 2013, when the 50 kb/d OKTA refinery was shut down. Oil product imports stood at 1 Mt in 2020 (-4% from 2019), most of which comes from Greece.
The average electricity price is slightly lower in industry than in the residential sector. Prices have increased for industry by 11%/year since 2017 to €7.5c/kWh in 2020, whereas they have declined for households by 1.5%/year over this period to €8.1c/kWh in 2020.
In 2020, the country's energy consumption per capita was 1.2 toe, which is over 50% below the European average, including 3 055 kWh of electricity (40% below the EU average).
Total energy consumption decreased between 2011 and 2018 and then increased significantly in 2019 (+8%) to 2.8 Mtoe. In 2020, consumption dropped by 8%, back to 2018 levels at 2.6 Mtoe.
Issues & Prospects
According to the NECP, primary energy consumption will grow by 35% between 2017 and 2040 to 3.5 Mtoe, while final energy consumption will increase by 55% to 2.8 Mtoe.
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2020 %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2020, %)
- GRAPH 5: Gasoline & diesel prices (US$/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Consumption trends by energy source (Mtoe)
- GRAPH 8: Total consumption market share by energy (2020, %)
- GRAPH 9: Final consumption market share by sector (2020, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
The North Macedonia energy market data since 1990 and up to
is included in the Excel file accompanying the North Macedonia country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- North Macedonia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the North Macedonia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).