The Electric Company (Shutterstock photo)
The Electricity Authority continues to promote the establishment of renewable energy production facilities in order to meet the government’s goals and is launching facilities with a total capacity of 241 megawatts which will begin operating during the year 2025
Publication of the results of the first competitive procedure for determining a protection tariff for the production of electricity from renewable energy in facilities connected to the transmission network. Yesterday, the Electricity Authority Plenary approved the winners of competitive procedure number 1 for determining a protection tariff for the production of electricity from renewable energy in facilities connected to the transmission network.
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This procedure took place following the decision of the Electricity Authority that allows the establishment without a tender of renewable energy production facilities, and the sale of all the electricity produced in them within the framework of the wholesale market managed by the system manager company, for a rate equal to the wholesale market price.
The competitive procedure, the first of its kind, guarantees the winners a minimum rate to which they will be entitled on days when the wholesale market price is lower than it. The rate determined in the procedure is 11.7 AEG per kWh. That means on days when the wholesale market price is on average lower than 11.7 AEG, the winners will be entitled to the difference between the average price and the protection rate.
The purpose of the competitive procedure and the protection tariff established within it is to ensure the establishment of the supplier by specified dates in order to meet the government’s goals. However, even bidders who did not win the procedure, and even companies that did not participate at all, will be able to set up facilities and participate in the wholesale market, but will not be entitled to the protection rate.
5 bidders participated in the procedure with a total capacity of about 500 megawatts, of which 3 winners were selected with a total capacity of 241 megawatts.
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