The target model’s scheduled September 17 launch date is expected to be postponed by a few weeks following the identification, by authorities, of crucial unresolved issues, even at regulatory level, as well as discrepancies between dry-run market testing results and actual market conditions.

The energy ministry is believed to be preparing to announce the postponement over the next few days. A delay of at least four weeks is expected.

Officials identified the biggest discrepancies in the balancing market, one of the four market systems of the target model, also including day-ahead, intraday and forward markets.

Power grid operator IPTO forwarded a technical decision on balancing market clearing matters for public consultation last Friday, inviting market participants to comment by September 16, just one day ahead of the target model’s scheduled launch.

Other pending issues, sources noted, include a procedure for the selection of reserve power stations; a regulatory framework determining offers by participating units; as well as mechanisms enabling RAE, the Regulatory Authority for Energy, to monitor the behavior of market participants.