Natural gas annual auction postponed by 10 days – Greece, 4 November 2016

The upcoming natural gas annual auction organized by Greek Public Gas Corporation (DEPA), which was initially scheduled for 8 November, has been postponed for 18 November as a result of additional time required by Greek Regulatory Authority for Energy (RAE) in order to examine proposals on the calculations for determining the starting auction price submitted by DEPA through a public consultations procedure.
According to the bailout agreement with its creditors, Greece is obliged to gradually double the amount of natural gas that DEPA supplies to the market through auctions. The amount should reach 20 % by 2021. An amount of 16 % is set for 2017, followed by an 1 % increase each year until 2021.

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