IBEX

The Independent Bulgarian Energy Exchange (IBEX) EAD, a subsidiary of BSE-Sofia AD hosted a meeting with the Turkish energy exchange EPIAS in Sofia. The Turkish guests were represented by Mr. Mustafa Karahan, Member of the Board of EPIAS, Mr. Mustafa Kayirici, Deputy CEO and other members of the operational management of the company.
During the meeting it was agreed that the sides will sign a Memorandum of Understanding with the purpose of collaboration for the development of organized spot market for gas trading in Bulgaria, development of software solutions for the Centralized Market for Bilateral Contracts (CMBC) as well as exploring the opportunities for market coupling of the Day ahead electricity markets of Bulgaria and Turkey.
The representatives of EPIAS have shared their plans to start a spot market for gas trading in Turkey, scheduled for September 1, 2018. “Our strategic goal is to have market determined price of the natural gas in Turkey” said Mr. Mustafa Karahan, Member of the Board of EPIAS, in the end of the meeting.
On their part, the representatives of IBEX EAD presented the opportunities for market coupling between Bulgaria and Macedonia and the other countries of Western Europe, as well as the specifics of the Bulgarian electricity market and the trading platforms operated by the Bulgarian electricity exchange.