Public consultation deadline for NOME auctions extended

The deadline for the second round of public consultation procedures ahead of the launch of NOME-type auctions being prepared for the electricity market has been extended by 15 days, according to energypress sources.

The public consultation procedure’s second-round deadline for participants was due to expire today, but RAE, the Regulatory Authority for Energy, offered interested parties an additional 15-day period following a request forwarded by PPC, the Public Power Corporation.

PPC had requested a one-month extension, stating that more evaluation time was required as the NOME-type auction plan had changed considerably compared to the initial plan presented. But RAE rejected the proposal, citing tight scheduling as part of the country’s bail-out agreement.

As a result of this deadline extension, the public consultation stage will now end at the end of September, and the finalized text for NOME-type auctions will be forwarded to the Ministry of Environment, Energy & Climate Change around mid-October. Its details will include the method to be implemented, as well as auction starting prices.

The ministry will use this plan as its basis for negotiation when it meets with the country’s creditor representatives, or troika, at the end of this month. The plan’s details will then need to be approved by the European Commission’s Directorate-General for Competition before being submitted to the Greek Parliament by the Greek Energy ministry for legislation processing, meaning that NOME-type auctions will not take place before the end of next February.

Prior to the extension, RAE had planned a first round of auctions for February 20, 2015. But this date is now expected to be delayed by about two to three weeks.