NOME auction delayed by a week, new terms worked on

The upcoming final NOME auction for the year, originally scheduled for October 18, is now expected to be postponed by about a week as RAE, the Regulatory Authority for Energy, is still working on measures intended to oblige participants to maximize their supply of electricity amounts purchased at the auctions to the Greek market.

RAE is looking to impose a condition that would require buyers to supply at least 80 percent of electricity amounts purchased at the auctions to the local retail electricity market, based on a proposal forwarded by LAGIE, the Electricity Market Operator. Offenders would be eliminated from ensuing auctions, according to the LAGIE plan.

At this stage, it appears that an intermediate solution may be implemented for the year’s final auction, whose most probable date is October 25, before a more comprehensive plan takes effect in 2018.

RAE has yet to make a final decision on how comprehensive the measure will be for the upcoming auction. The authority could decide today.

A total of 718 MWh/h will be offered at the next NOME auction. This amount represents a drastic increase from the year’s original remainder of 246 MW/h.

NOME auctions were introduced around a year ago to offer independent suppliers access to the main power utility PPC’s lower-cost lignite and hydropower sources.