August 11, 2025
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Romanian bourse BRM joins power auctions within European Single Intraday Coupling

The Romanian Commodities Exchange – Bursa Română de Mărfuri (BRM), the country’s second nominated electricity market operator (NEMO), has joined intraday auctions (IDAs) under the European Single Intraday Coupling (SIDC) framework. With this move, BRM becomes part of the operational IDA system, launched across Europe in June 2024, according to a press release from European power exchange EPEX Spot.

Other partners involved in the Regional Integration Project (RIP) are the Hungarian Power Exchange (HUPX), the Independent Bulgarian Energy Exchange (IBEX), the Romanian Electricity and Gas Market Operator (OPCOM), Bulgaria’s Electricity System Operator (ESO), Hungary’s Independent Transmission Operator Company (MAVIR), and Romanian transmission system operator Transelectrica, said EPEX Spot.

BRM’s integration marks the second wave of the European IDA rollout, which began on June 13, 2024, when NEMOs and transmission system operators (TSOs) introduced the pricing of intraday cross-zonal capacity through three pan-European auctions, it added.

It is another key milestone in enhancing Europe’s single power market

By integrating BRM, the SIDC framework has reached another important milestone, increasing the efficiency of the single European electricity market, EPEX Spot said. The market has become more liquid and increasingly competitive, in line with its core objectives of ensuring efficient, fair, and non-discriminatory functioning.

Future waves of the IDA rollout will expand its geographic scope

The European power exchange added that future waves of the IDA rollout would continue to expand its geographic coverage and product scope, further enhancing the EU’s internal electricity market.

The SIDC is a market mechanism within the intraday timeframe based on continuous trading and complemented by three intraday auctions, or IDAs. It enables market participants to trade electricity continuously across Europe on the day it is needed. Additionally, IDAs enable pricing cross-border capacity within the intraday timeframe, according to the press release.

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August 6, 2025
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Bulgaria’s NEK to launch offering of guarantees of origin on IBEX

State-controlled hydropower plant operator NEK said it would launch auctions for gurarantees of origin in Bulgaria, providing liquidity in the market segment. There is currently no offering scheduled on the IBEX electricity exchange.

Following the first auction for guarantees of origin (GOs) in Bulgaria last month, state-owned hydropower operator Nаtsionalna elektricheska kompania (NEK) is preparing its first offering. The company said it would ensure liquidity in the segment.

NEK is one of the 12 participants in the market, operated by the Independent Bulgarian Energy Exchange (IBEX). The utility said it is the leader in guarantees of origin and the production of electricity from renewable sources. It is part of Bulgarian Energy Holding (BEH).

The company operates 31 hydropower and pumped storage hydropower plants, of 2.74 GW in total capacity. All guarantees of origin owned by NEK will be offered on the platform through auctions for the sale of guarantees of origin, starting this month, according to the update. However, there are no auctions in IBEX’s schedule.

A small wind power plant broke the ice in Bulgaria by selling 2,475 guarantees of origin last month. Each represents 1 MWh. The exchange established the platform four months earlier.

NEK revealed that it would start to sell GOs before the end of the month

Electricity consumers buy guarantees of origin from producers to verify that they used renewable energy.

IBEX, solely owned by the Bulgarian Stock Exchange (BSE) and the Sustainable Energy Development Agency (SEDA) of Bulgaria are authorized to jointly operate the organized market. The legal framework envisages issuing GOs monthly, quarterly and semianually.

When SEDA achieves integration with the European guarantees of origin system, the participants in the Bulgarian platform will be able to trade abroad as well.

IBEX, founded in 2014, operates day-ahead and intraday markets and a mechanism for bilateral contracts.

Neighboring Greece introduced GOs in June of last year. Also of note, Greece and Bulgaria recently enabled bilateral trade in balancing energy within the Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation (PICASSO).

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May 12, 2025
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Bulgaria’s IBEX launches guarantees of origin market

Four participants registered last month at the Independent Bulgarian Energy Exchange’s guarantees of origin platform, creating a national market. Separately, IBEX is preparing to roll out a 15-minute market time unit in the Single Day-Ahead Coupling on June 11 with other European nominated electricity market operators.

The Independent Bulgarian Energy Exchange (IBEX) said it launched a market for guarantees of origin (GOs) of electricity with the Sustainable Energy Development Agency (SEDA or, in Bulgarian, AUER). It is part of the efforts to develop a liberalized energy market and promote renewable energy, it added.

IBEX is Bulgaria’s nominated electricity market operator or NEMO. The country’s legal framework envisages issuing GOs monthly, quarterly and semianually.

After the launch of registration on March 31, four companies joined last month: Aurubis Bulgaria, Armaco Energy, Energo-Pro Energy Services and KER Toki Power, the announcement reads.

No timeline for kickoff yet

IBEX, solely owned by the Bulgarian Stock Exchange (BSE), reiterated that its new platform provides for trading with clear rules, guaranteed payments and price transparency. Notably, there is no timeline for the kickoff.

The preparations for the rollout of a GO market lasted several years. The certificates are issued by renewable energy producers. Consumers buy them to prove their progress in decarbonization.

One GO covers 1 MWh of electricity production or consumption. When SEDA achieves integration with the European guarantees of origin system, the participants in the Bulgarian platform will be able to trade abroad as well. Neighboring Greece introduced GOs last June.

IBEX, founded in 2014, operates day-ahead and intraday markets and a mechanism for bilateral contracts.

Europe transitioning to 15-minute products in day-ahead electricity market

In other recent news, the Bulgarian NEMO co-signed a statement with its counterparts across Europe, affirming the commitment to transition to a 15-minute market time unit (MTU) within the Single Day-Ahead Coupling (SDAC) project on June 11.

The group includes Hellenic Energy Exchange – HEnEx (EnExGroup), Energy Exchange Austria (EXAA), Nord Pool, Croatian Power Exchange (CROPEX) and the Romanian Commodities Exchange (BRM).

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April 3, 2025
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Power exchanges to test cross-border day-ahead trading in 15-minute intervals

Nominated electricity market operators in Europe are starting joint member testing on April 7 for cutting the cross-zonal day-ahead power trading interval to 15 minutes. The switch is expected to improve the integration of renewable energy sources.

The European wholesale electricity market is preparing to switch its market time unit (MTU) from 60 to 15 minutes within the Single Day-Ahead Coupling (SDAC) mechanism. The move is significant in competition terms as well as for liquidity and the optimization of power production resources. The Market Coupling Steering Committee, MCSC, said joint member testing is kicking off on April 7 with a plan to complete it on May 15.

It scheduled the go-live for 15-minute products for June 11, for delivery on June 12.

“Testing will allow us to fine-tune processes, validate key scenarios and ensure everything is in place for a smooth launch. Our teams are committed to rigorous testing to guarantee the system’s efficiency and reliability from day one. TSOs will provide production-like capacities,” the body added.

Intermittent renewables require shorter market time units

The Single Intraday Coupling (SIDC) and SDAC projects merged and formed MCSC three years ago. It consists of exchanges, formally called nominated electricity market operators or NEMOs, and transmission system operators (TSOs).

SDAC allocates scarce cross-border transmission capacity by coupling wholesale electricity markets from different regions through a common algorithm. It simultaneously takes into account cross-border transmission constraints. The aim is to create a single pan-European cross-zonal day-ahead electricity market.

The market is experiencing a surge in intermittent sources – wind and solar energy, completely exposed to unexpected weather changes. The 15-minute MTU could eventually be cut to five minutes or even less.

“This new development will refine market operations by enhancing precision, improving the integration of renewable energy sources, and increasing overall efficiency and flexibility. By enabling better adaptation to fluctuations in energy supply and demand, it will support more accurate pricing and scheduling, delivering significant benefits to market participants,” the announcement reads.

NEMOs, TSOs to monitor as exchange members test new system

NEMOs and TSOs are responsible for monitoring as market participants test the shorter interval. The two sides will collaborate to further enhance process stability, MCSC said.

The tests include full decoupling with a shadow auction and the simulations of bidding errors and a lack of liquidity. The switch implies checking functional and simulation integration, among other elements.

JAO, the single allocation platform (SAP) for all the TSOs for cross-border transmission capacity, said it would conduct shadow auctions on April 7, 8 and 9.

As for power exchanges region that Balkan Green Energy News covers, the Romanian Gas and Electricity Market Operator (OPCOM), Independent Bulgarian Electricity Exchange (IBEX), Croatian Power Exchange (CROPEX) and Greece’s Hellenic Energy Exchange (EnEx or HEnEx) updated their members on joint testing ahead.

Of note, Greece and Bulgaria recently achieved another step in power market integration. Both connected to the Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation (PICASSO). It enables them to trade balancing energy.

The Western Balkans aren’t coupled yet with the single European electricity market.

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