Looser NOME terms included in multi-bill’s prior actions

A multi-bill comprised of bailout prior actions, expected to be submitted to Greek parliament today for approval, will include looser conditions and obligations for NOME auction participants, who had reacted against previous stricter terms and also expressed discontent over the possibility of a major delay in the staging of the year’s first auction.

According to sources, the looser terms will enable first-time participants to submit business plans to a local market authority three days ahead of NOME sessions. The submission of business plans will be optional for participants who have taken part in previous NOME sessions. However, older participants will need to submit electricity supply schedules, indicating the existence of customers.

The latest NOME term revisions included in the multi-bill, to replace previous revisions, are expected to offer traders more lenient electricity export limits as the previous terms were deemed to contravene EU law.

Older participants have expressed concern over the possibility of a major delay in the staging of the year’s first of four NOME auctions. These traders fear electricity amounts acquired at previous sessions will run out and disenable them to service clients holding supply agreements for specific periods.

Besides the NOME term revisions, the multi-bill will also include an annual revision concerning the Public Service Compensation (YKO) mechanism.

The energy ministry has informed that agreements were reached with the country’s lenders earlier this week on details concerning the public service compensation, Social Residential Tariff (KOT) program, and a RES-supporting ETMEAR surcharge reduction.