The objective of this reform is to complete the liberalisation of the electricity markets, including wholesale and retail markets. This reform shall consist of the following elements: - The liberalisation of the wholesale electricity market through entry into force of legal acts, which shall terminate the public supplier role for the Natsionalna Elektricheska Kompania EAD (NEK) and abolish the quotas for the regulated market. It shall also forbid long-term contracts, including power purchase agreements, or any similar measures having the same or equivalent object or effect with the exception of those for electricity from renewable sources or concluded on the power exchange. The long term electricity purchase contracts for Maritsa East 1 and Maritsa East 3 which expire in 2024 and 2026, respectively shall not be extended and/or benefit of any new State aid support. - The reform ofthe electricity balancing market through entry into force of legal acts, which ensure that: (i) the balancing capacity shall be purchased on market terms; (ii) the price of balancing energy suppliers shall be published within 30 minutes after intraday market closure; (iii) a single balancing price shall be introduced for periods without balancing energy activation; (iv) a 15-minute imbalance settlement period shall be introduced; and (v) no price caps for balancing electricity shall be set. The market coupling on the day-ahead market at the border with Romania as well as with Greece on the intraday market shall be completed by 31 December 2021 and 31 December 2022, respectively.
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