RAE decides on NOME schedule for 2017, first session in January

A total of four NOME auctions will be held in 2017, beginning with a session on January 25 and followed by three more every three months, through which a total of 680 MW, representing 12 percent of this year’s total electricity consumption in Greece, will be equally shared, RAE, the Regulatory Authority for Energy, has decided, according to energypress sources.

The first and second NOME auction sessions in 2017 will feature the same starting price as that set for the just-introduced measure’s inaugural session in October. The starting price levels for the third and fourth sessions in 2017 will be determined during June’s annual NOME review by RAE. CO2 emission allowance prices and main power utility PPC’s cost-related data will be factored into those prices.

The country’s creditors are pushing for greater electricity amounts to be offered through the NOME auctions. Besides the aforementioned amount – 12 percent of 2016 electricity consumption – to be offered in 2017, the creditors want an additional 8 percent already offered this year to be reoffered in 2017. The creditors want this roll out approach to keep being implemented until 2019.

Greek government officials have rejected the demand and want to maintan the original schedule – 8% in 2016, 12% in 2017, 13% in 2018 and 13% in 2019 – until the bailout-required objective of reducing PPC’s market share to less than 50 percent by 2020 has been met.

The NOME auctions were introduced in October to break the utility’s dominance by offering other traders access to PPC’s low-cost lignite and hydropower sources.