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The ESO returned its excess revenues from the extreme prices of balancing energy The "Electricity System Operator" (ESO) has reimbursed market players over BGN 25.8 million, which it received as excess revenues from the extremely high prices of the balancing shortfall energy on the electricity market on May 19, 2024. This is how it fulfills the decision of the energy regulator for a fairer distribution of balancing energy costs among all commercial participants who suffered significant losses from having to pay prices above BGN 6,300/MWh to electricity producers who activated their capacities as a result of current shortages . According to the order of the Commission for Energy and Water Regulation, ESO has carried out a secondary settlement and has recalculated the obligations of the market participants on the relevant date. The coordinators of the balancing groups were reimbursed a total of BGN 25,861,297.93 - realized financial surplus from the ESO on May 19, 2024 as a result of inaccurate forecasting, untimely decisions by market participants to achieve a balanced schedule and underestimation of the situation by a significant part of the coordinators of balancing groups. In turn, the coordinators of balancing groups to whom the sums from the applied one-time compensatory mechanism were transferred after the secondary settlement by ESO must distribute them to the affected trading participants in the respective balancing group. According to the decision of KEVR, the receivables from May 19, 2024 of the bona fide coordinators of balancing groups, who responsibly and professionally took all the necessary actions, including with active participation in the market "within the day", to ensure a balanced schedule in their group, the press release also notes. For them, revenues of about BGN 600,000 remain from the balancing market on this critical day.

 

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