Independent Bulgarian energy exchange IBEX will introduce a 15-minute intraday market product for the Bulgarian-Romanian border on October 1, IBEX CEO Konstantin Konstantinov said.
According to the rules of the European Union, the Bulgarian electricity system operator ESO has to enable the introduction of a 15-minute period for balancing imbalances, Konstantinov said. Testing to introduce the system in the intraday segment along with 15-minute products began last month.
Konstantinov revealed that on October 1, IBEX will introduce an intraday product with a 15-minute delivery interval for the Bulgarian-Romanian border. The executive director of the stock exchange emphasized that the hourly trading and settlement system will continue to function.
He expressed the hope that a single balance energy price will be introduced, which has the role of stabilizing the system when unplanned fluctuations occur. Renewable energy sources such as solar and wind are weather-dependent and often change rapidly, so such markets are necessary to balance supply and demand.
The coupling of the market with Greece in the intraday segment should be completed by the end of the year
Konstantinov also said that the merger of the market with Greece in the intraday segment should be completed in the next quarter and that it will integrate Bulgaria into the EU market.
When market participants gain access to a wider area, electricity prices should be less volatile, but the amount of information to process also increases.
One added that the day-ahead market on IBEX has more than a hundred participants. Most are active on a daily basis both on the Bulgarian market and in the entire region of Central and Southeastern Europe.
The Bulgarian-Romanian transmission capacity is 2 GW in both directions, Konstantinov said.
Source: balkangreenenergynews.com
