State energy regulator to big industrial consumers: more than 30 signals received from IBEX, ACER, market participants and their associations are checked

The regulator works consistently to ensure the integrity and transparency of energy wholesale markets

Energy / Bulgaria
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Currently, experts from the REMIT Control Directorate (Energy and Water Regulatory Commission, EWRC) are inspecting more than 30 signals received from IBEX (Independent Electricity Exchange), Agency for the Cooperation of Energy Regulators (ACER), market participants and their associations, including the signal of Bulgarian Federation of Industrial Energy Consumers (BFIEC). The alerts contain allegations that certain commercial practices of market participants can be defined as manipulation or attempt to manipulate the wholesale energy market, in violation of Art. 3 and Art. 5 of Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (REMIT).

According to the rules, the energy regulator is not allowed to publish information on these investigations. This is explained in the answer to BFIEC by the Chairman of the EWRC Ivan Ivanov. At the same time, it shall ensure that the regulator works consistently to ensure the integrity and transparency of energy wholesale markets in order to promote open and fair competition.

"In its REMIT infringement investigation, the Commission seeks to meet public expectations and ensure that consumers and other market participants can have confidence in the integrity of the electricity and gas markets, as well as that the prices set in the wholesale energy markets reflect an undisturbed and competitive interaction between supply and demand and that undue profits from market abuse cannot be derived. In fulfilling its role and task to help increase the integrity and transparency of wholesale energy markets and to promote open and fair competition in wholesale energy markets for the benefit of energy end-users, the EWRC will always rely on of information and from the market participants who have the best view on the applied market practices and possible market abuses ”, it is stated in the conclusion of the letter of the Chairman of the EWRC Assoc. Prof. Ivan Ivanov to BFIEK.

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