Market Report for January 2017

In January 2017, Independent Bulgarian Energy Exchange accepted one new member and registered a decrease (-34%)in the traded volumes in comparison to these in December. For the same period, IBEX also registered a decrease in theturnover (-17%). The highest achieved price for the period between January 1st, 2017 and January 31st, 2017 was174,83 EUR/MWh, while the lowest clearing price was 5,03 EUR/MWh. The total traded volume for the period was 216592,50 MWh. The average daily volume traded for the period was 6 986,85 MWh/day. The number of marketparticipants that took part in auctions was 44.

77,371

139,122

196,316 187,960 187,535178,072

226,076

188,264

221,288

284,185 290,617

328,404

216,593

Market indicators from 20.01.2016 to 31.01.2017

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan

35.5726.33 27.13 29.83 33.30 30.16 32.41 30.04 32.55

40.01 38.52 44.1055.60

-34% 10 092,70 MWh

Highest daily traded volume

55,60 EUR/MWh

Weighted average price

291,12 MWh/h

Average hourly traded volume

-12 %

-34 %

25 %

Monthly Traded Volumes [MWh]

Weighted average price [EUR]

Monthly market indicators

Prices [EUR/MWh] January 2017December

2016Change Change %

IBEX Base average price 54,40 43,13 11,28 26%

IBEX Peak average price 72,93 50,10 22,83 46%

IBEX Off-peak average price 35,87 36,15 -0,28 -1%

IBEX Highest traded price 174,83 83,21 91,62 110%

IBEX Lowest traded price 5,03 17,38 -12,35 -71%

Traded volume [MWh] January 2017 December 2016 Change Change %

Total traded volume 216 592,50 328 404,50 -111 812,00 -34%

Average daily traded volume 6 986,85 10 593,69 -3 606,84 -34%

Highest daily traded volume 10 092,70 11 531,90 -1 439,20 -12%

Lowest daily traded volume 3 760,70 8 401,10 -4 640,40 -55%

Highest hourly traded volume

500,80 566,20 -65,40 -12%

Lowest hourly traded volume

110,20 252,30 -142,10 -56%

Traded Volume [MWh/h]

January 2017December

2016Change Change %

Average hourly traded volume

291,12 441,40 -150,28 -34%

Turnover [EUR] January 2017December

2016Change Change %

IBEX Total turnover 12 042 404,07 14 484 090,47 -2 441 686,39 -17%

IBEX Average daily turnover 388 464,65 467 228,72 -78 764,08 -17%

IBEX Max daily turnover 803 577,46 687 840,07 115 737,39 17%

IBEX Min daily turnover 59 892,31 213 560,18 -153 667,88 -72%

Wеекdays [MWh]January

2017December

2016Change Change %

Average daily traded volume -baseload

7 248,25 10 834,85 -3 586,60 -33%

Average daily traded volume -peakload

3 744,17 5 645,44 -1 901,27 -34%

Weekends [MWh] January 2017December

2016Change Change %

Average daily traded volume -baseload

6 437,93 10 087,26 -3 649,33 -36%

Average daily traded volume -peakload

3 446,15 5 070,33 -1 624,18 -32%

General information about the market in comparison with December 2017

Market report for January 2017

IBEX prices [EUR]

Market report for January 2017

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Base price 22.42 31.34 48.52 57.49 37.47 46.33 34.06 57.13 86.97 125.9 53.05 96.24 70.66 17.98 14.17 68.8 63.08 58.33 67.25 61.98 28.88 24.35 69.49 65.24 62.80 68.05 61.20 28.44 25.78 64.23 68.86

Weighted average price 23.04 32.11 53.38 59.67 38.39 48.61 34.15 57.8 87. 121.2 61.23 97.91 76.49 18.95 15.93 72.03 67.19 60.82 66.05 60.80 29.60 24.57 69.37 64.17 61.82 66.57 59.51 29.07 25.86 61.34 64.72

Off-peak price 20.92 22.83 30.08 43.03 28.78 30.58 33.6 53.04 75.53 105.5 24.71 83.56 34.25 13.67 9.89 29.69 34.49 30.07 35.04 34.70 24.57 21.98 37.82 35.53 33.42 34.94 34.45 24.24 22.30 32.16 36.75

Peak price (9-20) 23.93 39.84 66.96 71.96 46.17 62.08 34.51 61.22 98.42 146.3 81.39 108.9 107.0 22.29 18.46 107.9 91.68 86.59 99.46 89.25 33.20 26.72 101.1 94.94 92.17 101.1 87.94 32.64 29.25 96.31 100.9

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IBEX OPCOM EPIAS HUPX

Regional PX comparison

Market report for January 2017

IBEX traded volumes

Market report for January 2017

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Base and peak volumes

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Hourly volumes monthly comparison

January December

IBEX traded volumes comparison

Market report for January 2017

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Base Volumes monthly comparison

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Peak Volumes monthly comparison

January Peak Volume December Peak Volume

DAM Members

• TPP Maritsa East 2 EAD• Energoinvestment AD• CEZ Trade Bulgaria EAD• Energo-Pro Energy Services EOOD• Future Energy OOD• EVN Trading South East Europe EAD• Energy Market AD• GEN-I, trgovanje in prodaja električne energije, d.o.o,• Group Trans Energy OOD• Energeo EOOD• Energo Pro Trading EAD• Axpo Bulgaria EAD• Energy Supply EOOD• TM-Technology AD• NEK EAD• Ritam-4-TB OOD• TPS Power Trading SRL• NPP Kozloduy EAD

Founder Members Members

• Most Energy AD• Interprom EOOD• Energy MT EAD• Grand Energy Distribution EOOD• BIOVET• Alpiq Energy SE• Enekod AD• Stomana Industry AD• Danske Commodities A/S• Energovia EOOD• Holding Slovenske Elektrarne d.o.o.• Elpetra Energy Ltd• LE Trading a.s.• EDF Trading Ltd• Statkraft Markets GmbH• Edison Trading S.P.A, branch Bulgaria• Casting Forging Machinery Complex EOOD• Neas Energy A/S

• Zagora Energy EOOD• Тoshel-92 EOOD• Zlatna Panega Cement AD• Elektricni Financni Tim d.o.o• Company for the Power Worker and

Development• Mini Maritsa Iztok EAD• PETROL, Slovenska energetska družba, d.d.,

Ljubljana• PPC Bulgaria S.A• Power Syst EOOD• Elpetra Energy EAD• Tinmar Energy S.A.

Market report for January 2017