site.btaTrading in Long-Term Contracts via Energy Exchange to Begin July 1

Trading in Long-Term Contracts via Energy Exchange to Begin July 1

Sofia, March 22 (BTA) - The Independent Bulgarian Energy Exchange (IBEX) will buy a platform for trading in long-term contracts, Energy Minister Temenouzhka Petkova said on Tuesday, addressing a conference on the liberalization of the national electricity market and the new trends in the sector. A few days ago the Bulgarian Energy Holding decided to increase IBEX' capital in order to enable it to buy the platform, she said.

The platform for trading in long-term contracts is to begin functioning on July 1, Petkova said. The next step will be to purchase a one-day trading platform in the first quarter of 2017.

Another major challenge is to build an IBEX segment for trading in natural gas. "We are considering this possibility. It is very important to develop the gas market. We will work to this end," Petkova said.

Speakers told the conference that the country's largest private energy companies will establish a National Energy Chamber. According to Petkova, the future chamber will have a reliable partner in the Energy Ministry.

The members of the new organization will include the Bulgarian Photovoltaic Association, the Bulgarian Wind Energy Association, the Hydropower Association, EVN Bulgaria, AES Bulgaria, Energo-Pro, ContourGlobal and CEZ Bulgaria. The chamber will have a general assembly and a management board, and will be co-chaired by Robert Dick, Management Board Chairman at EVN Bulgaria, and Olivier Marquette, Managing Director of AES Bulgaria.

Marquette said the new National Energy Chamber is designed to assist the dialogue for reform in the energy sector. He believes that employers in the energy sector can contribute to the industry's stability and market liberalization. Dick said the chamber's contribution will consist in sharing knowledge, experience and professional solutions.