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IBEX gets first industrial consumer of power on board

Published

February 18, 2016

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Published:

February 18, 2016

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Independent Bulgarian Energy Exchange  (IBEX) said it admitted the first final industrial consumer of electricity among its members. The unnamed company is allowed to buy electricity for own consumption from the power exchange. The day-ahead market launched trading on January 19 and ten days later it became the 25th full member of Europex association. In accordance with the organization’s rules, the decision needs to be reconfirmed at the next general assembly, in May. IBEX works on the establishment of a complementing electricity intra-day market.

At the beginning of February, the exchange became a nominated electricity market operator (NEMO) for the territory of Bulgaria for a period of four years. In other news, the office of president Rosen Plevneliev initiated a public procurement for supply of 540 MWh with an estimated value of BGN 46,000 (EUR 23,500) excluding value-added tax.

IBEX is a subsidiary of the state-owned Bulgarian Energy Holding. The delay in planned launch was due to the government’s stance to protect power generating companies and the local market. The cooperation agreement with power market Nord Pool Spot was signed in April with the aim to set up and run the country’s first day-ahead power exchange.

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