Argus has become the first global energy price reporting organisation to provide forward price assessments for wholesale electricity in Bulgaria and Greece. The new weekly assessments are for physical month-ahead base-load power. They are published online and each Thursday in the daily Argus European Electricity report.
Argus' expansion into forward pricing for Bulgaria and Greece comes amid growing interest in cross-border trading of electricity in southeast Europe. Bulgaria, which is starting to move towards market liberalisation, is the region's biggest power exporter. Argus month-ahead Bulgarian power assessments are for power designated for export, and include export fees.
Greece, which is opening more of its power sector to private-sector investors under the terms of its financial bailout, is a net power importer and a transit market for flows to Turkey. Cross-border trading on Greece's border with Italy has become more dynamic in the last year, responding to price signals in the two markets. Argus already publishes a weekly forward curve of prices for the Turkish market and daily forward curves for the Italian and Romanian markets.
Argus applies a robust and transparent methodology to its price assessments, making them suitable for use in contract pricing, risk management functions and investment planning.
Argus is broadening the scope of its daily market commentary for southeast Europe to include Turkey, Bulgaria and Greece in addition to the existing coverage of Romania. Argus also provides market-focused news and analysis on fundamentals, regulation and key corporate developments.
"Robust price discovery and market analysis will be key drivers of liquidity in the emerging power markets of southeast Europe," Argus Media chief executive and chairman Adrian Binks said. "Argus is pleased to be in a position to help drive the development of these markets through reliable and unbiased reporting by its experienced team of electricity specialists."