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Next The platform ready for a competitive electricity market HOME • INSIDER • CYPRUS • The platform ready for a competitive electricity market
& nbsp & nbspInsider/ΚΥΠΕ & nbsp; & nbsp;
In the final stages of receipt, the platform for the competitive electricity market, in the fourth quarter of 2022, its operation, which includes the Energy Exchange, says & nbsp; the DSMK. In the last quarter of 2022, the electronic platform through which the competitive electricity market (AAI) in Cyprus will operate will be ready, said the executive director of the Cyprus Transmission System Operator (TSMK) Stavros Stavrinos. “We are in the final stages of receiving the electronic platform, through which the AAI will operate in Cyprus, which is expected to operate in the last quarter of 2022,” he added. He stated that the competitive electricity market of Cyprus has been designed based on the European market model Net Pool and will regulate all transactions of purchase and sale of electricity at the wholesale market level.
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Mr. Stavrinos said that the NSS will include financial markets of the stock market type which are the futures market and the day market, but also other types of markets, such as the real time balancing market, which will ensure the energy balance between production and demand. every 30 minutes (balancing). He stated that the electronic platform is currently being set up, which will examine every 30 minutes the respective producer and the one who requests energy (supplier) and will carry out (clear) the transactions that will be drawn up.
In relation to Mr. Stavrinos said that the DSMK signed a contract with the Cyprus Stock Exchange on October 20 for the provision by the CSE of the services of a clearing house and a coverage body with the commencement of the operation of the AAI.
At this point, he explained that production should always be balanced with demand because if you let a large imbalance between production and demand be created, as he said, there may be a blackout in the electricity system.
DSMK He also said that how the time balance, the day market and the real-time balancing market will work is governed by the rules of the electricity market approved by the Energy Regulatory Authority (CERA) and are those that we implement within the electronic platform.
He also stated that any producer who has suitable power generation units and secures the necessary operating license and participation from CERA, will be able to come to the TSO to register him with the AAI.
Guarantee Regulations
The CSE will assure that the participants in the competitive market will have sufficient guarantees to ensure the smooth liquidation and will make the liquidation of the financial transactions. It is reported that the CSE will carry out the monetary settlement of transactions in collaboration with HELEX and HELEX in Greece, which have the know-how and systems to respond to this project.
