KEVR, the National Regulatory Authority in Bulgaria, has fined two firms just over 50k EUR each for breaches of REMIT Article 5 due to “pre arranged trading”. The notice can be found here. The two companies are alleged to have collaborated on the Bulgarian intraday market from November 2020 to January 2021. This led to selling some products at a lower price than they should have been, sending a misleading price signal.

There have been several fines in Bulgaria before including in the second half of last year (see here).