Bulgaria’s electricity exchange, IBEX, recorded 2.915 TWh of day-ahead trading in October, up 23.2% from October 2025 as liquidity remained substantially above year-earlier levels. The increase came alongside a sharp month-on-month rise in wholesale prices.
October’s day-ahead volume was around 6% below September, with average daily trading of about 94,024 MWh. The baseload average price rose around 40% from September’s €166.24/MWh to €232.03/MWh. The average peak price increased by approximately 71% to €217.66/MWh.
Intraday continuous-market volume reached 1.432 TWh, an increase of around 21%, while its weighted average price rose 52.4% to €239.11/MWh. IBEX had 155 registered day-ahead participants, unchanged from September.
High prices persist in November
Early-November trading indicated that the high-price environment had continued. For November 6, IBEX traded at €303.78/MWh, almost identical to Hungary’s price and marginally below prices in Serbia and Romania.
Rising year-on-year liquidity and high price volatility reinforce Bulgaria’s position as one of southeastern Europe’s principal trading hubs. The conditions also increase the importance of hedging, intraday optimisation and flexible generation for suppliers and industrial consumers.