IBEX joined the European Single Intraday Coupling (SIDC)

November 20, 2019
News
1
Mr. Konstantin Konstantinov, the executive director of IBEX (on the left) and Mr. Angelin Tsachev, the executive director of ESO (in the middle) formally signed an agreement regulating the commitments of the two companies arising from the accession of the Bulgarian electricity market to the Single Intraday Coupling. Assoc. Prof. Ivan Ivanov, the Chairperson of the Bulgarian  regulator, attended the signing ceremony. 

Mr. Konstantin Konstantinov, the executive director of Independent Bulgarian Energy Exchange EAD (IBEX) and Mr. Angelin Tsachev, the executive director of Electricity system operator EAD (ESO) formally signed an agreement regulating the commitments of the two companies arising from the accession of the Bulgarian electricity market to the Single Intraday Coupling – SIDC (formerly known as XBID). Assoc. Prof. Ivan Ivanov, the Chairperson of the Bulgarian Energy and Water Regulatory Commission (EWRC), attended the signing ceremony. On November, the 19th seven further countries, including Bulgaria, joined the existing countries already operating the SIDC.

 “I am sincerely thankful for the effort and professionalism of the IBEX’s and ESO’s teams. This is further proof of the excellent cooperation between the Exchange operator and ESO. I believe that, with the ongoing support of EWRC, we will also be able to successfully finalize the projects for the day-ahead market coupling as well as the other projects for the development of the Single European energy market”, Mr. Konstantinov said.

The intraday market operated by IBEX joined SIDC via the Bulgarian-Romanian border. With the agreement signed today IBEX and ESO agreed to cooperate on the implicit allocation of the transmission capacity. ESO undertakes to coordinate interconnection exchanges for each delivery period with the neighbouring transmission system operators, part of the SIDC.

The first delivery date within the 2nd wave Go-live is November, the 20th. The transmission capacity provided allows trading in all the SIDC’s bidding zones. The 2nd wave Go-live expands the continuous trading of electricity across the following countries: Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania and Slovenia. The existing countries already involved in the SIDC are: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Latvia, Lithuania, Norway, The Netherlands, Portugal, Spain and Sweden.

A 3rd wave Go-live, part of which is the Bulgarian-Greek border, is expected by the end of 2020.
The completion of the pan-European intraday market in line with the European target model is a key component in the successful completion of the transition to the new market model.

In the second half of 2020 Bulgaria’s accession to the European Single day-ahead market is prepared.