Financial and business news from Bulgaria

On May 11, Bulgaria is tied up with European electricity exchanges in trading for the day ahead

The first day of delivery is on May 12
On May 11, 2021. Bulgaria joins the Single European Market Day Ahead (SDAC) with the introduction into real work of the market unification between Bulgaria and Greece. This was reported by the Electricity System Operator.

The project is planned to be launched within the framework of the Multiregional Connection of Markets (MRC) and is implemented within the framework of the unification of Italian borders (IBWT). It is the first opportunity in history for ESO, the Bulgarian Independent Energy Exchange (BNEB), local producers, consumers and electricity traders to join the EU common market in the day-ahead time segment. Its implementation will provide all market players with access to the single market and the benefits resulting from the integration of electricity markets.

The European Day Ahead Target Model is expected to be completed in 2021 through the Intermediate Connection Project (ISP) and immediately thereafter through the implementation of the market integration project between Bulgaria and Romania.

The project to connect the market between Bulgaria and Greece started with an official decision of the Steering Committee on 1 March 2020 as part of the regional project for the unification of Italian borders — IBWT. All parties involved have successfully completed all preparations for the testing, which will take place between March 16 and April 30, 2021. The testing phase of the project will also include tests with commercial participants at the end of April.

The decisive step in introducing into real work of the market unification of the Bulgarian-Greek border as an extension of the single market day ahead is planned for 11 May 2021 (with 1st delivery day May 12), preceded by positive confirmation for the successful finalization of all tests.