The Independent Bulgarian Energy Exchange (IBEX) launched the intraday market (IDM) segment in Bulgaria on April 11. The minimum amount of electricity that can be traded is 100 kWh, and the price step is 10 euro cents.
According to the IBEX’ statement, 20 participants already registered on this segment and they all can now submit purchase and sale orders with delivery date after 00:00 CET on April 12, 2018.
The new IBEX system maintains 24-hour trading and orders can be placed up to 60 minutes before the delivery begins. Trading on the intraday market will take place in euros.
Konstantin Konstantinov, the executive director of IBEX, said that all the energy producers, including those who produce renewable energy, as well as energy traders and consumers will benefit from this new market segment since the trading options are as close as possible to delivery time.
The IDM market was launched in cooperation with Norway’s Nord Pool AS, developer of the web-based trade platform. Two power exchanges collaborate from 2015.
The introduction of intraday market, IBEX completed its trading platform along with day-ahead trading and long-term contracts. It will also provide possibilities for market integration into the single European intraday electricity market, which is aimed at removing the barriers for cross-border electricity trading.
In February this year, the state-owned Bulgarian stock exchange (BSE-Sofia) acquired 100 percent of IBEX in a deal worth EUR 2.6 million. Bulgarian Energy Exchange operates as a subsidiary of BSE-Sofia.
IBEX operates day-ahead power market while BSE-Sofia is the only functioning stock exchange in Bulgaria.