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From Bulgaria
13.12.2016 17:43
© Biepmiep, flickr.com
Bulgaria’s Energy and Water Regulatory Commission (EWRC) will most likely maintain the current levels of price caps for balancing energy shortage and excess, it became clear during a public discussion of a report on balancing energy prices. The report of the Bulgarian energy regulator stipulates that there are no current reasons to modify balancing energy price caps which are BGN 202/MWh (about EUR 100/MWh) for shortage, and BGN 0/MWh (EUR 0) for excess energy. The main reason cited by the experts of the EWRC was the fact that the balancing energy market in Bulgaria is not liquid enough to allow for a reference price based on the day-ahead market, as is the case in neighbouring Romania.
Balancing market participants, however, did not fully agree with the regulator.
The state-owned Maritsa East 2 TPP requested higher price cap for shortage, of around BGN 300/MWh. The regulator however objected that this would be a suitable price, if more liquidity was present and if no cap was imposed.
Power incumbent NEK, which operates the country’s biggest balancing generation – the Chaira PSHPP, insisted that the regulator sets different excess prices, depending on the expenses each type of balancing generation uses. Chaira PSHPP has a total of 30% power losses when operating in pumping mode, which are not compensated neither through the regulated power prices, nor through the BGN 0/MWh cap on excess energy. Chaira is thus balancing the system at a loss. Earlier this year a report by NEK said that the then-suggested negative price cap for excess energy of between BGN -17/MWh and BGN -22/MWh, also failed to compensate for the work of Chaira PSHPP.
NEK also blamed poor dispatching of the balancing units and suggested that the Electricity System Operator should have the power to oblige more agile generations, such as TPPs, to reserve capacity for excess balancing in order to cover smaller imbalances, as Chaira PSHPP usually operates at 200 MW.
Bulgaria’s TSO, on its turn, suggested that the regulator allows it to buy balancing energy from neighbouring countries or balancing markets.
The Bulgarian energy regulator is to announce its final decision on balancing energy price caps on December 30.
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