IBEX: Bulgaria is already part of the European single electricity market “Day Ahead”

The Bulgarian Auction Zone has successfully started operating in the conditions of market unification as part of the single European market  "Day Ahead", with the first day of delivery on May 12, 2021. The Bulgarian Independent Energy Exchange (IBEX) is already participating in the market merger operational processes together with the Electricity System Operator (ESO). The successful merger is the result of close co-operation between Bulgarian and Greek stock exchange operators and electricity system operators, as well as the regulatory authorities of the two countries.

"The most significant integration in the EU energy sector is expected to be fully completed by the end of the year with the connection of the 4MMC borders (Czech Republic, Hungary, Romania and Slovakia) with the MRC through the Interim Coupling project and immediately thereafter, through connecting Bulgaria across our common border with Romania, "said Konstantin Konstantinov, executive director of the IBEX, quoted by the operator's press service.

The project for market unification between Bulgaria and Greece started as part of the regional project Italian Borders Working Table (IBWT) with an official decision of the IBWT Steering Committee, taken on 1.3.2020. All participating parties followed the mutually agreed plan and completed it successfully and on time. all necessary preparatory and test activities.

On the Day Ahead market today, for the first time, cross-border capacity was implicitly allocated between Greece and Bulgaria through the Euphemia algorithm. The realized price union allows simultaneous calculation of electricity prices and cross-border flows in the region. The efficient use of the energy system and cross-border infrastructures as a result of greater coordination between energy markets adds value for the benefit of all participants in the Bulgarian market.

For SDAC

The EU's Day-ahead Single Market Unification (SDAC) allocates limited cross-border transmission capacity in the most efficient way, bringing together wholesale electricity markets from different regions through a common algorithm that takes into account cross-border transmission constraints while maximizing benefits for all market participants.

The aim of the SDAC is to create a Europe-wide day-to-day trans-zonal electricity market “Day Ahead”. An integrated “Day Ahead” market increases overall trade efficiency by fostering competition, increasing liquidity and ensuring more efficient use of production resources across Europe.