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A small wind power plant in northeastern Bulgaria broke the ice by selling 2,475 guarantees of origin of electricity via the IBEX bourse, in the first such auction in the country.
Bulgaria joined the Association of Issuing Bodies (AIB) more than a year ago. Four months after the Independent Bulgarian Energy Exchange (IBEX) started registering entities interested in participating in a market for guarantees of origin or GOs, it completed the first auction.
Private firm Hrabrovo Wind 2, one of the ten participants in the electronic platform, sold its entire package. The weighted average price for 2,475 guarantees of origin came in at BGN 0.37 or 18.9 eurocents, IBEX said, without disclosing details. No other auction is on schedule yet.
The transaction was for the output of Hrabrovo 2 wind power plant in the first half of this year. Each GO is for 1 MWh, translating to 2.48 GWh. Located in Varna province in northeastern Bulgaria, the facility consists of only one Vestas V112/3000 turbine, of 3 MW. It was commissioned in 2014.
Hrabrovo Wind 2 sold GOs covering its output in the first half of this year
Electricity consumers buy guarantees of origin from producers to verify that they used renewable energy.
IBEX, solely owned by the Bulgarian Stock Exchange (BSE) and the Sustainable Energy Development Agency (SEDA) of Bulgaria are authorized to jointly operate the organized market. The legal framework envisages issuing GOs monthly, quarterly and semianually.
When SEDA achieves integration with the European guarantees of origin system, the participants in the Bulgarian platform will be able to trade abroad as well.
IBEX, founded in 2014, operates day-ahead and intraday markets and a mechanism for bilateral contracts.
Neighboring Greece introduced GOs in June of last year. Also of note, Greece and Bulgaria recently enabled bilateral trade in balancing energy within the Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation (PICASSO).
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