Borzen, the Slovenian power market operator, is celebrating 20 years of operation. Two decades ago, we committed to the market and its stakeholders, by laying the foundations for a liberalized and single electricity market. Today, the key activities of the market operator ensure and enable the stable operation of the Slovenian electricity system and the transparent operation of the electricity market, in addition to supporting the transition to a low-carbon society.
In order to ensure transparency on one hand and even more advanced services for electricity market stakeholders on the other, Borzen has launched a new web portal. The portal enables the interested general public to access data about Slovenian electricity market, which includes imbalance prices, quantities and balancing costs, residual diagram, loss ratios in distribution areas, balancing scheme members and others. For the members of the Slovenian balance scheme, which consists of all entities that are actively operating in the electricity market, the portal provides an even simpler, higher quality, faster and safer exchange and review of relevant data and information..
Did you know?
The official opening of the electricity market in Slovenia took place on 15 April 2001. At the end of the same year, trading took place on an electronic platform – before that trading took place through market meetings at which market participants gathered in the meeting room once a week. In addition, in this period Borzen recorded contracts on membership in the balance scheme and open and closed contracts on concluded transactions on the Slovenian electricity market. At the end of 2001, the regulated market consisted of 12 members, whereas today, for example, there are 35 members on the Slovenian power exchange, 62 members in the Balance Scheme and 31 members in the balancing market.
Borzen = stock market
As the name implies (Borzen; derived from the Slovenian word borza meaning exchange), the establishment and start-up of Borzen also meant the establishment of the first Slovenian power exchange. In 2008, this role was taken over by Borzen’s then subsidiary BSP, where we now own a 50-percent stake, but we still carry out the financial and imbalance settlement of the exchange transactions. In 2002, about 7 percent of all electricity consumed in Slovenia was traded on the power exchange, today this percentage amounts to around 70 percent.
Over the years, Borzen has been developing and upgrading its services
The activity, in the initial period of the market organizer, today called the market operator, has been upgraded and strengthened over the years through the implementation of the imbalance settlement and the implementation of the balancing market. We have been actively participating in the transfer of knowledge by conducting various trainings. In 2015, as an authorized contractor, we started providing wholesale data reporting services in accordance with the REMIT regulation.In recent years, we have participated in various international projects and have been transferring the experience of market establishment, especially to southern and eastern European countries.
Early on, we became aware of the importance of renewable energy sources, so in 2004, we established a wood biomass exchange, and three years later, we started managing the national register of guarantees of origin. In 2009, we started with the implementation of the activities of the RES and CHP Support Centre. Five years later, we established the Trajnostna energija (“Sustainable Energy”) brand, within which we provide information and awareness on renewable energy and efficient use of energy.
In the future
Borzen in its role of the key public service obligation relating to the power market operator is and will remain a key player in democratization, green transition and digital transformation of energy, thus following the Slovenian and European green strategy.
Thank you to everyone who has been and still is co-shaping Borzen’s story.