RAE, the Regulatory Authority for Energy, is moving to restrict exports of lower-cost electricity amounts purchased by suppliers at NOME auctions, energypress has been informed.
Electricity traders have been exporting certain electricity amounts purchased at the NOME auctions, related auction data has confirmed. Given the current regulations, the practice is not illegal.
When the NOME auction process was adopted in Greece last October to offer third parties access to main power utility PPC’s low-cost lignite and hydrocarbon sources, the country’s creditors had pressured for the avoidance of all restrictions concerning export activity performed by suppliers.
At the time, Greek officials supported that the aim of the auctions was to help liberalize the local retail electricity market rather than boost profits for exporters.
RAE is expected to resort to the same reasoning. Greece’s creditors, especially the European Commission, are expected to react against the intention of local energy authorities to limit NOME-related electricity exports. The outcome of the issue remains unclear at this stage.