Liquidity on the Bulgarian day-ahead exchange IBEX rose steadily for the first six months of the year and reached its highest point to date in June, at 442GWh.
This increased liquidity did not carry forward into July, with all three Balkan exchanges and the more liquid Hungarian exchange experiencing a summer lull and recording lower traded volume.
Bulgarian exchange traded volumes in July 2017 still represented a 29% increase compared to July 2016 volumes, while June volumes were up by a massive 148% year on year.
The leap in liquidity may have been down to spikes on HUPX encouraging arbitrage between the two markets.
The IBEX platform has outstripped peer exchanges CROPEX in Croatia and SEEPEX in Serbia in terms of both liquidity and members, with 54 members compared to 12 CROPEX and 14 SEEPEX members.
Initiatives to raise liquidity in Croatia include shifting the sale of electricity from renewable sources onto the free market and in Serbia SEEPEX has set a target to reach 20 members by the end of the year.
But the Hungarian market still dominates the region, with volumes above 1.5TWh from January to June and 60 members. firstname.lastname@example.org