Borzen

What Borzen does

Borzen, operater trga z elektriko, d.o.o. is the sole legally designated electricity market operator in Slovenia, operating as a state-owned public service entity headquartered in Ljubljana. The company manages the national balance scheme, coordinates balance group responsible parties, settles imbalances, and operates the balancing energy platform that underpins Slovenia's electricity market infrastructure. Beyond market operations, Borzen administers government support schemes for renewable energy and high-efficiency cogeneration, manages public subsidies for green investments (solar panels, energy storage) and sustainable mobility (electric vehicles, e-bikes, charging infrastructure), and operates the RES Info Point (Točka OVE) guiding investors through renewable energy procedures.

Borzen's technology platform comprises interconnected modules: the Balance Scheme Management System, the Platform for Balancing Energy, the Imbalance Settlement System, and the Portal CP for subsidy administration, all accessed through web portals. The company also provides RRM REMIT reporting services for wholesale energy market transparency compliance and conducts public auctions for Šoštanj Thermal Power Plant electricity and emission allowances under coal transition legislation. Distribution occurs through self-serve web portals, direct market operations, a contact center, and a network of OVE advisory offices, targeting electricity market participants, RES/CHP producers, end consumers, and wholesale energy traders.

Revenue derives from fees charged to balance scheme participants for market operator services, transaction-based REMIT reporting fees, and government funding for subsidy administration (the latter being pass-through rather than earned revenue). The company is wholly owned by the Slovenian government, with board appointments made by the Government of the Republic of Slovenia, and reports stable revenue growth with improving net operating results across the 2016-2025 period.

Name

Borzen

Legal name

Borzen, operater trga z elektriko, d. o. o.

Website

https://borzen.si

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Borzen is Slovenia's state-designated electricity market operator, managing the national balance scheme, administering renewable energy and mobility subsidies, and providing REMIT reporting services to all electricity market participants in Slovenia.

Ownership category

akta.pro rank

Headquarters

HQ city

Ljubljana

HQ country

Slovenia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure

Revenue model

1. Public Service Operations: Borzen operates as a public electricity market operator (gospodarska javna služba), providing essential market infrastructure services mandated by energy legislation. Revenue comes from fees charged to balance scheme participants for market operator services.
2. RRM REMIT Reporting Service Fees: Borzen provides REMIT reporting services to participants on the energy wholesale market, with a new price list effective January 1, 2026 introducing a more detailed scale of monthly fees based on transaction volume.
3. Support Scheme Administration: Borzen administers government subsidies for renewable energy production, green investments, and sustainable mobility. Funds are distributed from government climate funds, not generated as revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Borzen operates Slovenia's electricity market infrastructure, managing the balance scheme, imbalance settlement, balancing energy platform, and contract recording for market participants. The company also administers government subsidies for electricity production from renewable energy sources and high-efficiency cogeneration, green investment subsidies (solar panels, energy storage), and sustainable mobility grants (electric vehicles, e-bikes, charging infrastructure). It additionally provides RRM REMIT reporting services for energy wholesale market transparency compliance.

Product overview

Borzen operates as Slovenia's public electricity market operator, functioning as a platform with multiple interconnected modules rather than a single unified product. The core offerings include: (1) the Balance Scheme management system for coordinating balance group responsible parties; (2) the Support Center Portal (Portal CP) for managing renewable energy subsidies; (3) the RES Info Point (Kontaktna točka OVE) for investor guidance; (4) RRM REMIT reporting services for regulatory compliance; and (5) public auction platforms for TEŠ electricity and emission allowances. Supporting these core modules are various subsidy programs covering solar panels, energy storage, electric vehicles, e-bikes, charging infrastructure, and incentives for energy-intensive companies, all administered through web-based application portals. The company also operates the trajnostnaenergija.si portal for broader sustainable energy information.

Differentiator

Problem solved

Functional benefit

Products and services

• Balance Scheme (Bilančna shema) System managing membership and structure of the balance scheme, including balance group responsible parties and balance sub-group responsible parties for Slovenia's electricity market. Serves electricity market participants who must meet balancing obligations under Slovenian energy legislation.
• Platform for Balancing Energy (Platforma za izravnalno energijo) Electronic platform for organizing and conducting balancing energy auctions and facilitating the settlement of imbalances in the electricity market. Used by balance scheme members and electricity market participants.
• RRM REMIT Reporting Service Reporting service for data on energy wholesale transactions in accordance with REMIT (Regulation on Wholesale Energy Market Integrity and Transparency), enabling market participants to fulfill their regulatory reporting obligations.
• Support Scheme for Electricity Production (Sistem podpor za proizvodnjo elektrike) Government subsidy scheme for electricity production from renewable energy sources and high-efficiency cogeneration, managing the ECO group and overseeing support payments to eligible producers.
• Portal CP (Support Center Portal) Web portal for the Center for Support that manages applications and administration of subsidies for renewable energy and high-efficiency cogeneration, allowing beneficiaries to submit requests and track their subsidy status.
• RES Info Point (Kontaktna točka OVE) Contact point providing information and guidance for investors on renewable energy source investments, helping navigate procedures and regulatory requirements for OVE (Renewable Energy Sources) investments in Slovenia.
• Guarantees of Origin (Potrdila o izvoru električne energije) Issuance of guarantees of origin certificates for electricity produced from renewable sources, enabling producers to certify the renewable origin of their energy.
• Solar Panel Subsidies for Individuals Government subsidies for residential solar panel installations, supporting self-sufficient energy production for individual households in Slovenia.
• Energy Storage Subsidies Subsidies for battery energy storage systems, enabling both residential and commercial users to store excess renewable energy.
• Electric Vehicle Subsidies Grants for the purchase of electric vehicles for individuals and businesses, promoting sustainable mobility across Slovenia.
• E-Bike Subsidies Subsidies for the purchase of electric bicycles to encourage low-emission transportation in Slovenia (2026 program).
• EV Charging Infrastructure Subsidies Grants for private and public electric vehicle charging infrastructure, including stations along TEN-T networks and areas outside the TEN-T network in Slovenia.
• Non-Refundable Funds for RES (Legal Entities) Non-repayable grants for legal entities investing in new renewable energy production facilities and energy storage in combination with energy production in Slovenia.
• Incentives for Energy-Intensive Companies Financial incentives to help energy-intensive industrial companies offset electricity costs in Slovenia.
• Public Auctions for Šoštanj Thermal Power Plant (TEŠ) Public auctions for the sale of electricity produced at the Šoštanj Thermal Power Plant (TEŠ) and purchase of emission allowances, conducted in accordance with the 2024 Act on Transitional Financing of the Accelerated and Fair Exit from Coal (Official Gazette RS, No. 109/2024).

Quantifiable outcome

• 94% satisfaction among balance scheme members
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• BSP (BSP-South Pool)coreTechnology or IntegrationBorzen cooperates with BSP (BSP-South Pool) for conducting public auctions for electricity from TEŠ (Šoštanj Thermal Power Plant) and for the ECO Group transfer auctions. BSP provides the long-term trading platform for these auctions.
• Europex (European Association of Energy Exchanges)coreStrategic or Co-development PartnerBorzen is an active participant in Europex, the European Association of Energy Exchanges, hosting meetings of European energy exchange and market operator representatives in Slovenia.
• EU Project STREAM PartnersminorStrategic or Co-development PartnerBorzen participates as one of 20 partners in the EU project STREAM, which aims to create an innovative and robust flexibility ecosystem on the low voltage grid side of existing power markets.
• Energy Agency of Slovenia (Agencija za energijo)coreStrategic or Co-development PartnerThe Energy Agency announces public calls for support allocation and Borzen executes support payments to eligible production units.
• Ministry of Environment, Climate and Energy (MOPE)coreStrategic or Co-development PartnerThe Ministry entrusts Borzen with administering subsidies for electric vehicles and sustainable mobility under various programs including REPowerEU.
• Eko SkladminorStrategic or Co-development PartnerEko Sklad provides complementary financial incentives for companies and local communities, with Borzen coordinating on energy efficiency programs.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BSP Energy Exchange (BSP-South Pool): Regional electricity exchange for Slovenia and neighboring markets. BSP is a confirmed technology and integration partner of Borzen, providing the trading platform for Borzen-run public auctions — making it the closest direct peer and operational counterpart.
• OPCOM (Romanian Electricity Market Operator): Romania's designated electricity and gas market operator running spot, intra-day, balancing, and green certificate markets. Comparable in scale and mandate to Borzen as a national-level market operator in a small EU member state.
• HUPX (Hungarian Power Exchange): Hungarian power exchange operating day-ahead, intra-day, and balancing markets with adjacent certificate and capacity products. Direct functional peer to Borzen's balance scheme and balancing energy auction platform.
• TGE (Towarowa Giełda Energii, Poland): Polish commodity and electricity exchange operator managing spot, forward, balancing, and property rights markets. Compares to Borzen on balancing market operation and certificates/guarantees of origin functionality.
• EXAA (Energy Exchange Austria): Austrian energy exchange operating spot and intraday electricity markets. Comparable regional peer for a small Alpine EU market with similar regulatory architecture to Slovenia.

Regional players

• SEEPEX (Serbian Electricity Exchange): Serbian day-ahead and intraday electricity exchange — relevant as a regional emerging peer in a neighboring Western Balkan market with comparable balancing and market-coupling challenges.
• IBEX (Independent Bulgarian Energy Exchange): Bulgarian electricity exchange operator running spot and intraday segments with balancing and intraday market coupling. Comparable to Borzen as another small-market EU national exchange.

Broad incumbents

• Nord Pool: Europe's leading power exchange, operating day-ahead and intraday markets across multiple countries. Borzen participates in Europex alongside Nord Pool and engages in pan-European market design discussions, making it the dominant broad incumbent peer.
• EPEX SPOT: Major European power exchange for day-ahead and intraday electricity trading across Western and Central Europe. Represents the broad-incumbent counterpart that Borzen's balancing and market activities integrate with via EU coupling.
• EEX (European Energy Exchange): Leipzig-based pan-European energy exchange covering power, gas, emissions, and agricultural products. Relevant broad incumbent in continental European market infrastructure adjacent to Borzen's auction and certificate mandates.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/borzen

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Borzen