Latter date for next NOME auction being examined

A proposal by LAGIE, the Electricity Market Operator, to shift forward the scheduled date of Greece’s next NOME auction from November 15 to within December or the first quarter of 2017 is being examined by RAE, Regulatory Authority for Energy.

A total electricity amount of 675 MWh will be auctioned in 2017 should a 135 MWh amount that had been scheduled for November be offered next year.

The 675 MWh total will be offered through four auctions, beginning with November’s rescheduled 135 MWh amount. Three other auctions are scheduled for 2017, a February 14 session offering 140 MWh, a May 16 auction offering 200 MWh and a July 11 session to provide a further 200 MWh.

The LAGIE proposal has been forwarded for a public consultation procedure to end on November 11.

The NOME auctions, introduced last month with an offering of 460 MWh, are intended to provide third parties with access to PPC’s low-cost lignite and hydropower sources as a measure to help break the utility’s market dominance.

RAE officials are concerned that a new electricity amount just twenty days after the inaugural NOME auction may not be necessary as suppliers have yet to fully absorb their previous amounts. Authorities fear this short time span between sessions increases the risk of a subdued turnout for the second auction.