RAE, Bulgarian counterpart approve IGB market test bidding terms

RAE, Greece’s Regulatory Authority for Energy, and its Bulgarian counterpart, EWRC, have approved the Bidding Phase Notice submitted by ICGB AD, in compliance with the Guidelines for the Binding Phase of the Market Test for management and allocation of capacity on the IGB Interconnector, RAE announced in press release today.

The Bidding Phase Notice sets the rules of procedure for participation in the second phase of the Market Test and is run under the provisions of paragraph 6 of article 36 of Directive 2009/73/EC, in order to assess market interest in contracting capacity on the IGB Interconnector. Such an assessment is necessary before the authorities decide on the Exemption Application submitted by the project promoter, ICGB AD.

Final allocation of capacity to Market Test participants will be realized via the Final Joint Opinion of the two authorities, following the assessment of the updated Exemption Application to be submitted by ICGB AD.

The decisions issued by the Greek and Bulgarian authorities approving the Guidelines and then the Bidding Phase Notice, resulted from an excellent partnership established between the two institutions, the RAE statement noted.