Greek Ministry of Energy adopted the starting price of NOME auctions, which will launch in September, at 37.35 euros/MWh, which is slightly lower than 38.5 euros/MWh proposed by the Greek Regulatory Authority for Energy (RAE).
In September, an auction based mechanism will be launched in accordance with the mechanism implemented in France under the law NOME (Nouvelle Organisation du Marche de l’Electricite), which reformed the French energy market in late 2010. This mechanism regulated the third party access to nuclear power produced by state-owned EDF, which had dominant market position, in order to remove competition issues due to EFD’s exclusive access to low-cost electricity. In Greek case, NOME auctions will allow third party access to low-cost lignite and hydropower of the Public Power Corporation (PPC), which currently holds over 90 % of the Greek retail electricity market.
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Tags: electricity, Greece, NOME auctions, PPC