site.btaBulgarian Energy Exchange, Nord Pool Spot Sign Cooperation Agreement

Bulgarian Energy Exchange, Nord Pool Spot Sign Cooperation  Agreement

London, April 22 (BTA) - Nordic energy market operator Nord Pool
 Spot announced Wednesday that it has signed with the
Independent Bulgarian Energy Exchange (IBEX) and a Cooperation
Agreement aiming to prepare the start of the first competitive
Bulgarian power market.

IBEX is committed to develop a transparent and efficient
Bulgarian power market and, thus, to enable a timely and
reliable implementation of the EU Target model, Nord Pool Spot
said.  IBEX nominated Nord Pool Spot for a partner to deliver
trading systems as well as to operate the day-ahead market as a
service provider in order to ensure the fulfillment of its goals
 and commitments and to deliver valuable service to the
Bulgarian customers, the statement goes.

The Bulgarian day-ahead market is planned to become operational
by the end of Q4 2015.

Konstantin Konstantinov, the CEO of IBEX, is quoted as saying
that the members of the IBEX team have been working for a
strategic partnership for almost a year. "We are very satisfied
and inspired to create a reliable, liquid and non-discriminatory
 market in Bulgaria together with Nord Pool Spot. Finally, we
will ensure the best possibilities for power trading to our
potential domestic and international customers. We are extremely
 excited about this relationship with a major European power
exchange."     

Nord Pool Spot CEO Mikael Lundin added that they are very
pleased to build this strategic alliance with IBEX in order to
develop the Bulgarian power market.

IBEX was established January 2014, as a fully-owned subsidiary
of the Bulgarian Energy Holding EAD. IBEX holds a 10-year
license by the State Energy and Water Regulatory Commission to
organise a Power Exchange for electricity in Bulgaria. IBEX
works to establish and develop a power day-ahead market for
electricity in Bulgaria based on transparent and
non-discriminatory principles.

Nord Pool Spot operates Europe's leading power markets, offering
 both day-ahead and intraday trading to its members. 380
companies from 20 countries trade on Nord Pool Spot's markets in
 the Nordic and Baltic regions, and on the UK market N2EX. In
2014 the group had a total turnover of 501 TWh traded power.