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EWRC MET WITH A TURKISH ENERGY EXCHANGE (EPIAS) DELEGATION


27.04.2018

Current power and natural gas exchange trade organizational issues and practical problems with monitoring and control of the transactions transparency and market abuse prevention were the main topics of EWRC meeting with the Turkish energy exchange (EPIAS) delegation. The delegation was on a day visit in Bulgaria at the invitation of IBEX management. The delegation consisted of Mr. Mustafa Karahan, EPIAS Board Member and senior management representatives – the General Manager, Mr. Mustafa Kayirici, the Market Surveillance Committee Chairman, Mr. Fatih Yazitas and directors of strategic development and market operations. On behalf of EWRC the Chairman Assoc. Prof. Ivan Ivanov and the members Mrs. Evgenia Haritonova and Mr. Remzi Osman took part in the meeting. IBEX CEO Mr. Konstantin Konstantinov also attended the talks.

EWRC Chairman Assoc. Prof. Ivan Ivanov said that the Turkish delegation's visit was taking place at an important moment, related to the acceleration of the electricity market liberalization process in Bulgaria. It was pointed out that during the Bulgarian regulator’s visit in Turkey in November 2017, good contacts were established with Energy Market Regulatory Authority EMRA and talks were held with EPIAS representatives. Assoc. Prof. Ivanov stressed the key role of IBEX as a market tool for transparent and fair trade in electricity and outlined the new EWRC functions in monitoring and control of the electricity wholesale market in order to guarantee the transactions transparency and to prevent possible market manipulation and abuse by market participants.

During the meeting, views were exchanged on both parties experience regarding the way in which the power exchange transactions supervision and control and the mechanisms for RES producers’ participation in the power exchange are implemented. According to EPIAS Board Member Mustafa Karahan, the cooperation between Bulgarian and Turkish energy exchanges outlines good prospects for both countries to form a relatively large energy market that can compete with other regional energy markets. He informed, that IBEX and EPIAS are in the process of signing a Framework Cooperation Agreement, which will contribute to deepening the interaction not only between the two energy exchanges.