DEPA seeks gas auction revision, committee meeting today

A request by DEPA, the Public Gas Corporation, for gas auction revisions that would not require the firm to take into account supply price increase and reduction requests when setting its gas auction starting prices, will be examined at a Competition Commitee meeting today.

This term is based on a competition committee decision reached in 2014 that was fine-tuned last year by RAE, the Regulatory Authority for Energy.

DEPA is still awaiting a court hearing for a case filed by the gas company in response to an upward price revision request made by Turkey’s Botas in 2008. This hearing, in Sweden, is expected to take place by the end of this year.

DEPA believes that the acceptance of its gas auction revision request would positively impact the Greek gas market’s overall adjustment to the European framework and should not make its gas auctions less attractive for participants.

The DEPA request needs to be settled as soon as possible as the corporation’s annual gas auction covering amounts for 2018, revised to offer buyers 60 percent of the gas utility’s total domestic supply from 17 percent last year, was originally scheduled to take place today.

The auction, whose date will be reset, needs to be staged before customers place their annual gas amount orders to DEPA for next year.