Bulgaria Launches Trial of Energy Exchange on Friday

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.