BAKU, Azerbaijan, Apr.13
By Nargiz Sadikhova - Trend:
Changes to holding electricity auctions were made in Kazakhstan, Trend reports with reference to Kazakhstan’s Energy Ministry.
The auction of electricity generated by hydroelectric power plants during environmental releases of water held on April 10, was carried out according to the changed rules, due to which new buyers were allowed to participate in the purchase of ‘cheap’ electricity.
The ministry said that this means that the rules have become more objective to all buyers, which has reduced the cost of electric energy in times of crisis. According to experts, this measure will remove possible market affiliation, and will give a new impetus to the competition development on the electricity market.
“On Apr. 10, 2020, 71 electricity wholesale subjects took part in the centralized auction, of which 68 were buyers and three were sellers. Demand for electricity amounted to 1.458 billion kWh, the volume of purchased electricity amounted to 301.2 million kWh, 13 deals were made,” the ministry said.
The ministry added that no technical comments on the operation of the trading system were made by the participants during the process. These legislative initiatives are aimed at improving the mechanisms for organizing centralized auctions in order to create conditions for development of market relations on wholesale electricity market.
Significant changes to the rules provided buyers with an “exit” with their price offers within 30 minutes at the first stage, and sellers with filing applications in the next 30 minutes of the trading session and, if demand was met, automatic pairing. All actions in the trading system occur impersonally, and the factor of prior agreement between participants is practically excluded.
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