Independent Bulgarian Energy Exchange EAD (IBEX) and Nord Pool, Europe’s leading power market, have today (Wednesday 1st March 2017) announced the signing of an agreement to create the first competitive and transparent Bulgarian intraday power market.
After successfully cooperating on the implementation of the Bulgarian day-ahead market in 2016, the two companies today made an important further step forward in the development of the Bulgarian power market, by launching the implementation of the country’s intraday market.
IBEX and Nord Pool are planning to complete intraday market implementation in Q4 of 2017 – exact go-live will be announced later.
Konstantin Konstantinov, CEO of IBEX, said: “After a very successful first year of operations for the day-ahead market, and being very satisfied from our strategic partnership with Nord Pool, we are confident that our next step towards the development of the Bulgarian power market will continue this positive trend. We are sure that we will meet the needs and requirements of all market players in Bulgaria, with this new market opportunity completing the IBEX portfolio and adding substantial value to our services.
“I would like to assure our members and all other involved parties that we will keep working hard and with enthusiasm in the right direction. Counting on the support and expertise of our partners at Nord Pool, and working with all our members, together we will experience the satisfaction of a job well done by the end of 2017.”
Mikael Lundin, CEO of Nord Pool, added: “We are delighted to have been chosen to deliver our modern platforms for IBEX and to assist Bulgaria in the country’s pursuit of modern, transparent, and secure power trading markets. We will continue to build on our previous excellent experience working with IBEX to deliver the intraday platform that Bulgaria needs and to strengthen our mutual cooperation.”
The successful launch of a continuous trading market is a necessary precondition for Bulgaria’s power market to join XBID, the common European cross-border intraday coupling project.