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The MPs withdrew the controversial amendments to the energy law regarding the electricity market.

News • Nikolay Chavdarov •
The MPs withdrew the controversial amendments to the energy law regarding the electricity market.

Members of the Energy Commission to the National Assembly and the amendments to the Energy Act have withdrawn the controversial amendments concerning the electricity market. These are the texts according to which "balancing groups cannot be combined with a common financial settlement", as well as the proposed restrictions on market participants and producers of electricity from renewable sources to sell electricity under long-term contracts. The proposed last-minute amendment stated that "producers with a total installed capacity of 1 MW and more than 1 MW under the Renewable Energy Act conduct transactions on the stock market exchange in the" Day ahead "and" Intraday "segments. A discussion was held before the chairman of the Energy Committee Valentin Nikolov announced his intention to withdraw the texts. 

The representative of the photovoltaic association Nikola Nikolov, in commenting on the offer to sell not on long-term contracts, but only on the market day ahead or in the intraday segment, commented that if this offer remains, it will lead to an increase in the stock market price, as it also supported with appropriate arguments. With regard to the proposal that "balancing groups cannot be combined with a common financial settlement, he comments that it is" disturbing "and will lead to an increase in balancing costs. Current market situation allows for many participants, for diversity otherwise, only months later if this proposal is implemented there will only be four left, he said. Anyway, the controversial amendments will be withdrawn, announced the Chairman of the Energy Committee of the Parliament Valentin Nikolov, emphasizing the intention to give more freedom to the market. Earlier in the discussion, it was clarified that the Market Rules are in practice sufficient to guarantee activities of the IBEX and freedom of supply and trade. The MEPs were adamant that they don not want to close the market, but to continue with liberalization of the electricity market.