Bulgarian Energy Exchange starts its operation in the beginning of 2016
After a trial period commencing on 11 December 2015, the Bulgarian Energy Exchange should start officially its operation on 19 January 2016.
In this regard, two separate public discussions commenced in mid-October:
- new draft amendments to the Electricity Trading Rules were published on 21 October 2015; and
- drafts of the Operational Rules for Organized Power Exchange and Settlement Rules were published on 15 October 2015.
Prior early 2015, Bulgaria and Croatia were the only EU member states which did not have day-ahead power exchange yet. The idea for its implementation was a key milestone in the Bulgarian Energy Strategy 2020, which envisaged the Bulgarian power exchange to become operational by the end of 2011. However, the Energy Exchange was established as an entity under the Bulgarian law much later on - in January 2014.
The exchange is a wholly owned subsidiary of the state-owned company Bulgarian Energy Holding EAD, which holds a 10-year license to operate the electricity exchange in Bulgaria. In April 2015, the Energy Exchange signed a Cooperation Agreement with Nord Pool Spot for the day-ahead power exchange platform, using the Pan-European Hybrid Electricity Market Integration Algorithm (Euphemia). At a later stage, the scope of cooperation is to be extended to include an intraday market.