Bulgaria, IBEX will organize the market of guarantees of origin

Published on 4. February 2023., SEE Energy News

Amendments to the Bulgarian Law on Energy, published in the Official Gazette on February 2, established the obligation of the holder of the license for the organized electricity market in the country to organize an exchange of guarantees of origin, according to the IBEX announcement.

Given the growing interest of European companies to reduce their carbon footprint, guarantees of origin are becoming a popular tool to promote the production and consumption of energy from renewable sources with guarantees of its origin, Konstantin Konstantinov, IBEX general director, said in a statement released on Friday.

IBEX is currently the only licensed operator of the electricity exchange in Bulgaria, and thanks to this, it can guarantee concluded transactions and create a new market segment in accordance with international standards.

The exchange operator has already taken steps towards implementing a trading platform for the new product. Creating an objective, transparent and effectively functioning market for guarantees of origin is one of IBEX’s priorities for the current year, according to the announcement.

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