The Bulgarian national regulatory authority (Energy and Water Regulatory Commission), the Bulgarian transmission system operator (Electricity System Operator EAD) and the Bulgarian power exchange (Independent Bulgarian Energy Exchange EAD) have formally declared their willingness to actively participate in the WB6 regional electricity market integration initiative. The new signatories of the WB6 Memorandum of Understanding will join the Programme Steering Committee on day-ahead market integration, whose task is to address all measures and steps needed for going-live of functioning day-ahead markets in and between the signatory countries.

Since its signature by representatives of the Western Balkans 6 Energy Community Contracting Parties in April 2016, the Memorandum of Understanding has played a key role in developing a regional electricity market. The initiative has placed great importance on including stakeholders from EU Member States that neighbour the WB6 countries. Under the Secretariat’s coordination function, stakeholders from all six neighbouring EU countries have now joined the initiative.

Director of the Energy Community Secretariat, Mr Janez Kopač, said: „Only a concerted approach to market coupling in South East Europe will bring the liquidity needed to support competition and efficiency in the market, thus maximizing benefits for energy consumers. Drawing artificial boundaries in an already interconnected area stands against the spirit of the Energy Community and the Energy Union. We are very grateful for the cooperation of our EU partners and sincerely welcome the newest signatories on board. Their participation is key to establishing a truly integrated trading region in South East Europe”.

EWRC Chairman Mr Ivan Ivanov said: „The Energy and Water Regulatory Commission appreciates joining this initiative as an important step in the development of the regional electricity market and, in particular, in the regional day-ahead market coupling between the Energy Community contracting parties and the neighbouring Member States. Thus, together with the neighbouring EU countries we contribute to the development of the electricity market in South East Europe and in particular in the Western Balkan countries in order to achieve the strategic objective - creating a competitive, efficient and integrated European energy market.”