RES auction term revisions being introduced include starting-price increases as a means of attracting investors following a drop to low levels at the year’s first descending-price session on July 2.
RAE, Greece’s Regulatory Authority for Energy, in a plan forwarded to the energy ministry, has called for auction starting prices to be determined by the average starting price of preceding sessions and the average price level of bids made at these.
Under the previous terms, the formula entailed setting auction starting prices by applying the highest bidding prices of the previous session and deducting one percent.
As a result of the revised terms, the starting price for small-scale PV installations will be set at 81.71 euros per MWh, 71.05 euros per MWh for large-scale PV installations and 79.77 euros per MWh for wind energy facilities.
Without the revisions, the respective starting prices for the three categories would have been 79.2, 70.29 and 71.21 euros per MWh.
Wind energy and PV investors requested higher starting prices to ensure profit margins given the unstable output in these sectors.