A RAE (Regulatory Authority for Energy) study concerning the starting price of the country’s next NOME auction, scheduled for July, proposes an increase to 36.30 euros per MWh from the current level of 32.05 per MWh, according to sources.

Energy minister Giorgos Stathakis, who has already received the study, plans to soon sign a related joint ministerial decision before it is also endorsed by the finance ministry and the revised starting price is officially announced ahead of next month’s NOME auction.

NOME auctions were introduced in Greece nearly two years ago to offer third parties access to the main power utility PPC’s lower-cost lignite and hydropower sources.

The authority’s starting-price hike proposal resulted from an increase in the price of CO2 emission rights at the European energy exchange as well as PPC cost-related data concerning its lignite and hydropower-based output.

The new NOME starting price level is expected to apply for the forthcoming NOME auction, planned for July 18, and all ensuing sessions until the procedure is reviewed in June next year.

Officials agree the expected starting price increase will not impact the market as closing prices at previous NOME auctions rose well above starting price levels, and, most importantly, market data indicates wholesale electricity prices are on the rise, both locally and internationally.

The closing price at the most recent NOME auction reached 42.05 euros per MWh.