RAE, the Regulatory Authority for Energy, has approved guidelines set for the second round of a market test to entail binding bids from interested traders for capacity reservations concerning the IGB (Interconnector Greece-Bulgaria) project.

ICGB AD, the project’s consortium, must now present – within ten days of the authority’s endorsement, signed last Friday – a confidentiality agreement to participants who had expressed an interest in securing pipeline capacity through the first round, supply an official update, and also set a deadline for binding offers.

Interested parties will then need to sign and return their respective agreements within seven days. The deadline will be set to expire at least two months after official information is  forwarded to interested bidders.

The project’s consortium will need to inform interested parties whether their binding bids have been accepted or not ten days after bids have been submitted.