A record-breaking bid for future electricity supplies, as witnessed in Wednesday’s NOME-type auction, generated diametrically opposed assessments in days following, with the dominant state-run utility drawing a different conclusion from alternate power suppliers that participated.
A record-breaking bid for future electricity supplies, as witnessed in Wednesday’s NOME-type auction, generated diametrically opposed assessments in days following, with the dominant state-run utility drawing a different conclusion from alternate power suppliers that participated.
Representatives of the latter who spoke to “N” referred to an "impediment” in any future plans for a more aggressive rates policy.
Conversely, officials from the state-run utility, the listed Public Power Corp. (PPC), said participants in this week’s auction purchased electricity at rates that were 17 to 20 percent lower than what it purchases and subsequently supplies its customers. Essentially, PPC officials pointed to a margin for even more competitive rates offered by the alternative suppliers.
Wednesday’s latest NOME-type auction closed at a rate of 45.2 euros per MWh/h, significantly surpassing the start price of 32.05 euros and the final bid in the last such auction: 43.05 euros per MWh/h. The latter was the previous highest bid, which was submitted last July.
Wednesday's auction also witnessed the largest quantity of future electricity production put up for sale, which reached 718 MWh/h. Last July’s auction only offered up 145 MWh/h.
While speculation was rife on exactly why Wednesday's auction was a record-setter, some analysts pointed to the possibility of suppliers aiming to re-export the future power output, this despite the fact that a recent ruling by the country independent electricity regulator mandates the exclusion of suppliers from coming auctions if they resell a major portion of the quantities they purchase.