The Energy and water regulatory commission (EWRC) held public discussions on draft rules for amending and supplementing the Electricity trading rules /ETR/ and the Operation rules of IBEX (power exchange rules).
The amendments to the Electricity Trading Rules introduce a number of novelties in the functioning of the balancing market in Bulgaria. The current regulatory framework regarding the supply of balancing services is brought into line with the acts of the European Union establishing guidelines for electricity balancing and establishing guidelines for the operation of the electricity transmission system, as well as in line with the recent amendments of the national legislation.
With amendments to the provisions of the Methodology for determining prices of balancing energy, a single pricing mechanism is introduced for excess and shortage (imbalance) on the balancing market. A 15-minute settlement period is also planned to be implemented, thereby enabling market participants to clear imbalances as close to real-time as possible.
The proposed amendments to the power exchange rules create the possibility of trading 15-minute products on the “Intraday” market segment and set a definition of “fifteen-minute product”.
Through the amendment of Art. 13 and other related provisions of power exchange rules, self-invoicing is introduced. For the purposes of charging value added tax, self-invoicing should be carried out through a separate document (agreement) signed by the market participants and IBEX. In this regard, the changes in power exchange rules create a legal basis for concluding such an agreement between IBEX and trading participants, which will become a part the registration process on DAM and IDM of IBEX.
Stakeholders can submit written comments on the two draft rules to EWRC by August 17, 2022.
The draft rules and the analysis of EWRC’s working group are published at:
– ETR draft (only in Bulgarian): https://www.dker.bg/calendar/101/742-na-03-08-2022-g-ot-10-10-ch-v-sgradata-na-kevr-na-bul- knyaz-al-dondukov-8-10-et-4-sche-se-provede-obschestveno-obszhdane-na-proekt-na-pravila-za-izmenenei-i-dopplenie-na-pravilata-za-trgoviya-s- elektricheska-energiya.html
– Power exchange rules draft (only in Bulgarian): https://www.dker.bg/index.php?mact=CGCalendar,cntnt01,default,0&cntnt01event_id=741&cntnt01display=event&cntnt01returnid=101
