Bulgaria Launches Trial of Energy Exchange on Friday

Business » ENERGY | December 11, 2015, Friday // 10:56
Bulgaria: Bulgaria Launches Trial of Energy Exchange on Friday Bulgarian Energy Minister Temenuzhka Petkova. Photo: BGNES

A trial launch of the Independent Bulgarian Energy Exchange (IBEX) is expected to take place on Friday.

The aim of the exchange is to ensure that electricity will be sold and purchased at prices determined by the market.

The first participants in the exchange will be Kozloduy Nuclear Power Plant, Maritsa East 2 Thermal Power Plant and hydroelectric power plants, with the other producers to follow suit.

The exchange is expected to start functioning in real conditions from the beginning of next year.

Until the full liberalisation of the energy market, households will be able to choose whether to purchase electricity from the exchange or to stay within the regulated market where the prices are determined by the Water and Electricity Regulatory Commission (KEVR).

Several days ago, Bulgarian Energy Minister Temenuzhka Petkova assured that the process of full liberalisation of the energy market will take place gradually so that users have enough time to make an informed choice.

So far, the market has been liberalised for the large industrial enterprises and medium-sized businesses or around 12 000 users.

Some more time is needed in order for household users and small-sized businesses – a total of five million users, to be able to change their electricity provider.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Bulgaria, energy, Exchange, market, electricity, KEVR, IBEX, Temenuzhka Petkova
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria