State-owned Independent Bulgarian Energy Exchange (IBEX) said on April 22 it signed a cooperation agreement with Europe’s leading power market Nord Pool Spot aimed at setting up and running Bulgaria’s first day-ahead power exchange, Novinite.com reported. The exchange is planned to start operations by the end of the year, with plans for an intraday market at a later stage, the news agency added.
IBEX CEO Konstantin Konstantinov is quoted as saying his entity hoped to create “a reliable, liquid and non-discriminatory market together with Nord Pool Spot.” Capital daily quotes Ivan Ivanov, head of energy watchdog KEVR, telling Bulgarian News Agency that the agreement will ensure that the power exchange will function in line with European Union rules. In his words, the deal has already received the nod of the European Commission.
The Bulgarian day-ahead market is planned to become operational by the end of Q4, Nord Pool Spot said.