OSHEE buys 6.4 million euros of electricity for 5 days: We opened two auctions, we did not provide the required quantity  

The Electricity Distribution Operator (OSHEE) buys 6.4 million euros of electricity for 5 days, specifically for the period 13-17 October.

According to OSHEE, two auctions were held to purchase the amount of 44,400 MWh, but the required quantity was not provided.

The final results of both auctions are: from the required quantity of 44,400 MWh, the quantity of 24,920 MWh was provided with an average price of 258.47 Euro / MWh (about 6.4 million Euros.)

Full notice:

The Free Market Supplier JSC, part of the company OSHEE Group, held today the next auction for the purchase of the amount of 44,400 MWh, necessary for the period 13-17 October.

The quantity required is for both profiles, band and peak.

The auction took place in 3 phases (schedules 12: 00-13: 00-14: 00), through the online platform. The initial ranking of offers made automatically by the online platform was followed by the media.

In this procedure, in which 10 domestic and foreign companies participated, it turned out that less than half of the required amount of energy was provided, with an average price of 255.79 Euro / MWh. (about 4.9 million Euros.)

The Free Market Supplier JSC explains that a second auction was held to meet the required amount of energy, in which it was also not possible to provide the required amount of energy. Despite the conduct of two auctions, it was not possible to secure the required quantity.

The final results of the two auctions today are: from the required quantity of 44,400 MWh, the quantity of 24,920 MWh was provided with an average price of 258.47 Euro / MWh (about 6.4 million Euros.)

The administrator of the FTL company, Erina Rexhepi, explained to the media the procedure followed for the purchase of electricity, a procedure which is carried out based on the Regulation approved by the Energy Regulatory Entity with Decision no. 103, dated 23.06.2016. Rexhepi said that it is the online IT platform which automatically evaluates the offers on the criterion of the lowest price and the fulfillment of the required quantity to be purchased. In order to increase the quantities offered and the possibility of reducing the price, optimization phases can be realized.

The Free Market Supplier JSC will take the necessary measures to meet the required amount of electricity.