Following the failure of the renewable energy tender organized by the government, The major industry continues with plans to hold its own competition for electro-intensive consumers. Cross-offers with renewable energy producers. The Major Energy Consumption Companies Association (AEGE), which designed the process in collaboration with the Iberian electricity market operator (OMIE), plans to hold the tender in the first quarter of this year, according to a statement by its CEO on Monday. , Pedro González, during a forum held Congress of Deputies.
organization that brings together companies such as ArcelorMittal or Zinc AsturianaEnergy covers almost half of the costs in some cases, it has been running the competition for months (originally scheduled for September), but was delayed due to bad weather. uncertainty derived from war. this 80% of such companies they buy their energy directly from the electricity market (the so-called ‘pool’) and current high prices He multiply by five pre-pandemic figures Therefore, the aim is to power purchase agreements guaranteeing both parties a fixed price, lower than market 12 years. and one of his great attractions through which consumers will have the approval of the State. Spanish Reserve Fund for Guarantees of Electro-intensive Institutions (FERGEY).
dir-dir A large amount of energy intake will make a big difference compared to the competitions organized by the Government. and there will be no maximum price known as the reserve price. This reduces the likelihood of failure, according to Pedro Basagoiti, director of technology, innovation and new developments at Iberian market operator OMIE. “Many bids (at the auction organized by the Ministry of Ecological Transition) did not match because the prices were much higher (reserve price). There is no reserve price here. Buyers and sellers get an idea of future prices. I understand there will be enough offers and buyers will need to focus on how far they can go.”, Basagoiti explained.
The formula used is the same as Government proposals, by playing with the price of energy so that developers want a quantity for the energy they produce at their facilities and make offers for the price that consumers are willing to pay, and until some numbers match up with others. However, there is another big difference with public renewable auctions, which is that producers will receive the suggested amount of money, while consumers will pay the average price at which the auction ends as long as their bid falls short. .
The last major difference from conventional renewable auctions is that the entire renewable park will not have to go to auction, but producers will be able to leave some of their production for sale to the market. In other words, for a 50 megawatt wind farm, the producer can auction 45 megawatts and sell the remaining 5 megawatts on the market. Industry sources suggest it could be 20-30% of the park, although this point needs clarification.
“[These auctions]have the undeniable advantage of predictability and stability, with obligations to supply energy from producers and payment obligations from consumers,” said Hermenegildo Altozano, partner at Bird & Bird law firm. “Given what has happened with regulation in recent months, it is an added advantage to exempt bilateral contracts that have already been signed if there are ‘take back’ mechanisms (reducing extraordinary benefits from renewable and nuclear production),” Hillock added.