North Macedonia’s 0.887 tCO₂/MWh default emissions factor translates into an indicative Q3 CBAM cost of around €73.02/MWh.
The burden is lower than the corresponding costs for Serbia, Montenegro and Bosnia and Herzegovina, but remains substantial compared with normal wholesale electricity price differentials across the region.
Market Integration Does Not Remove CBAM Exposure
North Macedonia has been advancing its integration with the EU electricity market. Its intraday electricity market began operating in May, while the country has entered the verification phase for future EU electricity-market coupling after completing the required legal alignment.
These changes are expected to improve trading efficiency and support greater integration of renewable generation.
However, deeper market integration does not in itself remove CBAM costs.
Until electricity-market integration is fully implemented and the separate conditions for any future exemption are satisfied, renewable generators seeking to use plant-specific emissions values must continue to meet the applicable actual-emissions requirements.
For North Macedonian solar and wind projects, this creates an incentive to establish the necessary monitoring and verification systems before electricity exports become a larger component of project revenues.
