Greece’s next market-coupling step, a day-ahead market link with Bulgaria, following an equivalent step with Italy in December, is scheduled to take place on May 11 as part of a wider effort by Europe’s Nominated Electricity Market Operators and Transmission System Operators for a single European day-ahead market.
Preceding trial runs, started on March 16 and planned to take place until April 30, must be successfully completed before the Greek-Bulgarian day-ahead market link is given the green light for its launch.
Automatic energy flow from the more expensive to the less expensive electricity market is expected to initially prompt a slight reduction in domestic wholesale electricity prices.
Greater price convergence between the Greek and Bulgarian markets is expected to be achieved with the introduction of a second transmission line running from Nea Santa, northeastern Greece, to Bulgaria’s Maritsa area in the south. This second line promises to greatly boost transmission potential between the two countries.
The additional transmission line was originally slated for launch in 2023, but swift progress from the Bulgarian side has increased the likelihood of an earlier delivery, mid-way through 2022, according to Greek power grid operator IPTO’s ten-year development plan (2022-2031), forwarded for public consultation at the beginning of this year.
Until now, Bulgaria has clearly been the dominant electricity exporter in trading with Greece, but this role is expected to be reversed as of 2023 because Greek electricity prices will be relatively lower, according to ICIS, a specialized news portal covering energy and related domains.