Bulgaria, IBEX to introduce 15-minute interval trading in October

, SEE Energy News

CEO of the Bulgarian Independent Energy Exchange (IBEX) Konstantin Konstantinov said in an interview that, as of 1 October, the exchange will introduce a product with 15-minute interval related to the intraday market for the Bulgarian- Romanian border.

He explained that IBEX is doing this in response to the obligation of the Bulgarian electricity transmission system operator ESO to introduce 15 -minute balancing, which is a requirement according to European regulation, adding that testing is currently underway.

Konstantinov said that energy regulator KEVR and ESO are also planning to introduce a single price for balancing energy. Currently, there are two prices – a shortage price and another, different surplus price. However, the arbitrage between the two prices has no logical explanation, and single price is a policy practiced all over Europe, regardless of whether it is for surplus or deficit.

He welcomed recent day-ahead market couplings with Romania and Greece, because Bulgaria is a serious electricity producer in the region and its influence on the prices in the region is significant. The fact that the cross-border exchange with Romania and Greece reaches a total of 3,000 MW in some hours speaks is a clear indication that Bulgaria certainly influences the market in the whole of southeastern Europe.

He also said that intraday market coupling with Greece is planned for the last quarter of this year.

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