Independent Bulgarian Energy Exchange (IBEX) has successfully completed the first phase of tests with market participants for the day-ahead market coupling with Romania. Go-live of the market coupling is planned for October 27.
Thanks to the high physical interconnectivity on the border, the day-ahead market coupling, which is a priority for Bulgaria, will significantly increase competition and reduce market concentration, IBEX said.
The market coupling with Romania will at the same time increase to a large extent the price predictability and will thus contribute to levelling hourly price peaks. According to IBEX, the project will complete the process of full integration of Bulgaria into the European Union’s common electricity market.
The next two test phases, namely market coupling simulation both with the project parties and all other nominated electricity market operators (NEMOs) in the EU together with all transmission system operators (TSOs), are scheduled for this and next week, IBEX said.
Pursuant to Regulation 1222/2015 (CACM), all NEMOs have to work towards completion and proper functioning of the single day-ahead and intraday coupling. NEMOs are also bound by an agreement along with all transmission system operators (TSOs) which stipulates the objectives and tasks of all entities in relation to completion of the EU target model.