January 3 (SeeNews) - The Independent Bulgarian Energy Exchange (IBEX) registered in December the highest-ever monthly amount of electricity traded on its day-ahead segment since its inception in 2018, it said on Tuesday.
A total of 185,635 MWh were traded on the day-ahead segment last month, the IBEX said in a statement.
The record trading volume is primarily the result of Bulgaria having completed its integration into the European Single Intraday Coupling (SIDC), after neighbouring Greece joined the cross-zonal intraday market at the start of December. Bulgaria has thus been able to export electricity south through the border with Greece, to Italy and further on to the rest of Europe. SIDC currently couples the continuous intraday markets of 25 countries, EU members as well as Norway.
This interconnectivity has contributed to the trading of as much as 1.19 million MWh on the day-ahead segment, or 3.5 times more than before the market coupling process, the IBEX noted. The segment has also been boosted by the introduction of 15-minute trading products as well as the automation of trading.