Regulators of Bulgaria and Greece approve the Bidding
Phase Notice of the Market Test in accordance with the
Binding Phase Guidelines for management and allocation of capacity on the IGB Interconnector
September 1, 2016. Τhe National Regulatory Authorities for Energy of Bulgaria, EWRC, and Greece, RAE (hereafter, “the Authorities”) by Decisions EWRC No. У- 4 and RAE No. 283/2016 have approved during the month of August 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, issued by the Authorities in July 2016 (RAE Decision No. 255/2016, EWRC Decision No.У-3).
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.
To this end it needs to be highlighted that the final allocation of capacity to participants participating in the Market Test 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 Authorities approving the Guidelines and then the Bidding Phase Notice, are once again the result of an excellent partnership among the two institutions, since the submission of the Exemption Application by the project company ICGB AD, and provide a successful example of regulatory cooperation under the Third Energy Package.
