Bulgaria’s electricity balancing market will start operations on June 1, state-owned electricity System Operator (ESO) said.
Balancing group coordinators and balancing power distributors should register as members of the electricity balancing group by the end of the month, ESO said in a notice on its website.
A balancing group coordinator redistributes the imbalances among the group members and in that way reduces the cumulative financial costs related to balancing market prices for each member.
Earlier this year, the energy regulator granted state-owned National Electricity Company (NEK) and local units of Austria's EVN and Czech companies CEZ and Energo-Pro the right to operate as electricity balancing group coordinators.
The energy regulator said in April it had granted the Independent Bulgarian Energy Exchange, a wholly-owned subsidiary of the state-owned Bulgarian Energy Holding (BEH), a 10-year licence to operate the country's power exchange. The company plans to launch a day-ahead market by the end of the year, and to acquire a market coupling platform which would make possible intra-day trade by 2016.