April 11 (SeeNews) - The Independent Bulgarian Energy Exchange (IBEX) said it launched on Wednesday an intraday trading segment in a move which is expected to reduce balancing expenses and bring IBEX closer to coupling with the European Intraday market.
"Producers of energy, including energy from renewable sources, traders and consumers will be able to avail themselves of this new market segment, as the trading options are as close as possible to physical delivery times," Konstantin Konstantinov, the executive director of IBEX, said in a statement.
A total of 20 participants have already registered on the new segment.
Trading will be conducted through a web-based platform developed by Norway's Nord Pool AS.
The platform supports round the clock trading with gate closure 60 min. before physical delivery, common settlement system and shared collateral with the Day Ahead market segment and also common REMIT reporting platform.
The introduction of the intraday market segment will allow IBEX to couple with the European intraday market, which is expected to happen by 2020.
On Tuesday, Macedonia's government said it has discussed and accepted the proposed text of a Memorandum of Understanding (MoU) on coupling the country's day-ahead electricity market with its peer market in Bulgaria.
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