Self-billing agreement on Day-ahead and Intraday market segments

Dear trading participants,

Independent Bulgarian Energy Exchange EAD (IBEX EAD) has initiated a procedure for amending and supplementing the Power Exchange Operational Rules (PEOR) issued by the Energy and Water Regulatory Commission, promulg. SG 55 / 19.06.2020, in force from 19.06.2020, supplemented SG 4 / 15.01.2021, in force from 15.01.2021, amended and supplemented SG 41 / 18.05.2021, in force from 18.05.2021, SG 2 /7.01.2022, in force from 7.01.2022.

The Energy and Water Regulatory Commission (EWRC) considered and adopted a report of the task force on the changes proposed at a closed session under Protocol № 196/21.07.2022. On 03.08.2022 EWRC held a public consultation to discuss the changes proposed.

One of the main changes concerns amending art. 13 of PEOR and other provisions related thereto aiming at self-billing being introduced by IBEX EAD. In the meaning of the Value Added Tax Act self-billing shall be provided for in a standalone document (an initial agreement) signed by the parties, of which the National Revenue Agency shall have to be notified. Therefore, PEOR shall have to include a provision based on which such an agreement to be concluded between IBEX EAD and trading participants. Thus, concluding a self-billing agreement will be part of the prerequisites for registration of a trading participant on the power exchange market for electricity for Day-ahead and Intraday market segments. In view of the above, the text of the Self-billing agreement is available here.

The closed session of EWRC where the Rules for amendment and supplement of the Power Exchange Operational Rules will be adopted is planned for 30.08.2022.

Yours faithfully,