Bulgarian President Rumen Radev returned for further discussed the amendments to the Energy Act

Published on 31. January 2023., SEE Energy News

Earlier this week, Bulgarian President Rumen Radev returned for further discussed the amendments to the Energy Act, adopted earlier in January.

The amendment in question stipulate that, by the end of 2023, the financial settlement prepared by the electricity system operator should be carried out at a time interval of one hour. The reason for the veto is that the amendment does not guarantee compliance with the requirements of European Union law and hinder the socio- economic benefits in Bulgaria.

As of 1 October 2022, the electricity transmission system operator (ESO) and the energy exchange operator (IBEX) , have introduced a 15-minute period for the settlement of imbalances and 15- minute products for intraday market trading.

The application of the 15-minute balancing periods contributes to better use of existing interconnectors, higher volumes of electricity exports from Bulgaria to neighboring countries, a better level of frequency regulation, more active HEP now operates 63 integrated solar power plants with combined installed capacity of 2.7 MW. A new investment cycle is about to start, the implementation of which will increase the total number of solar power plants at HEP’s facilities to more than 200 by the end of 2025.

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