Bulgaria’s electricity exchange IBEX recorded 2.915 TWh of day-ahead trading in October, 23.2% more than in October 2025, while the baseload average price rose around 40% month on month to €232.03/MWh. The figures show liquidity remained substantially above year-earlier levels as wholesale prices climbed sharply.
October’s day-ahead volume was around 6% below September’s, with average daily trading of about 94,024 MWh. IBEX had 155 registered day-ahead participants, unchanged from September.
The baseload average reached €232.03/MWh, compared with €166.24/MWh in September. The average peak price increased by approximately 71% to €217.66/MWh.
Intraday continuous-market volume rose around 21% to 1.432 TWh, while its weighted average price increased 52.4% to €239.11/MWh.
High prices carry into November
The early-November market indicated that the high-price environment continued. IBEX traded at €303.78/MWh for November 6, 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 increase the importance of hedging, intraday optimisation and flexible generation for suppliers and industrial consumers.