GCC Interconnection Authority officially joins GO-15 Power Grids; the Authority is ranked 16th globally in terms of size of energy exchange 3rd Regional Power Trade Forum ends with calls for accelerating energy exchange in GCC The 2nd GCC Executive Roundtable meeting on Power Trade held today (Monday, 29 September 2014) on the concluding day of 3rd Regional Power Trade Forum in Abu Dhabi. The Meeting was inaugurated by Eng. Adnan Bin Ibrahim Al-Muhaisin, CEO, GCC Interconnection Authority (GCCIA) and attended by CEOs of various GCC authorities specialised in power trade.
It was officially announced that GCCIA had joined the GO-15 Reliable and Sustainable Power Grids, which represents 80% of total global demand on electricity. GO-15 includes other major networks like MISO and PJM in the US, National Grid in UK, REE in Spain, RTE in France, Terna in Italy, Eskorn in South Africa, in addition to networks in Brazil, Australia, India, China, South Korea, Japan, Russia and Belgium.
The 2nd day of the Regional Power Trade Forum began with a panel discussion entitled “Opportunities for Initiating Spot Trading in the GCC” and included the following panelists: Mr. Mohamed Al-Flasi – MD, ADWEC, Mr. Ahmed Al-Jahdhami – CEO, OPWP – Oman, Mr. James Matthys-Donnadieu, COO APX Group, CEO Belpex, and Mr. Tan Liang Ching, Vice-President, EMC-Singapore. The session was moderated by Eng. Nasser Al-Shahrani, GCCIA following a speech by Eng. Ahmed Al-Ebrahim, Chief Operating Officer – GCCIA.
During the GCC Executive Roundtable Meeting, Eng. Al-Muhaisin said that GCCIA ranked 16th globally in terms of the size of the energy exchange. He added: “We have made heavy investments since 2001 in the GCCIA. When it began operations in 2009, it was among the leading players globally due to its ability in exchange power between any of the 6 GCC States without having to cross other countries’ networks. The adoption of latest energy solutions made it easy to exchange electricity in GCC.” GO-15, which represents more than 80% of the world’s electricity demand, provides electricity to 3.4 billion consumers on 6 continents and is responsible for integration of 2518 GW of generation capacity into the grid, of which 21% is from renewable energy sources. GO15 was created in 2004 following several blackouts across the world to investigate fundamental issues of common interest to its members and to develop joint action plans addressing improvement of power system security. In 2009, GO15 became a formal organization.
Mr. Daniel Dobbeni, Chairman, GO-15, said: “We welcome the GCC Interconnection Authority to GO-15 and assure that it would be beneficial for a wide range of consumers in the six GCC States. We have been briefed on the vision and missions of GCCIA which are consistent with our vision of Innovate Thinking, Technology Advancement and Industry Leadership.”
The 2nd GCC Executive Roundtable Meeting on Power Trade ended with 7 key recommendations: (1) setting common and cost effective pricing for all power trade transactions in light of the differences in the inputs and model for calculating energy prices in each of the GCC countries; (2) making optimal use of the interconnection grid by exploiting economical opportunities for all member states; (3) GCCIA should take an active role in facilitating the power trade opportunities between member states; (4) trading on commercial basis is the prevailing option for power trade but barter trading can be used under special circumstances; (5) appointing Power Trade Officer (s) to be empowered through access to the GCCIA Market Platform to give/accept offers on behalf of the Trading Party who remains accountable contractually; (6) review and adjust bi-lateral agreement templates, and (7) formulating teams to study opportunities of trading power to be discussed in the forthcoming meeting in December 2014 on the hope to sign off actual trade deals so that the unified GCC electricity market takes shape.
It was officially announced that GCCIA had joined the GO-15 Reliable and Sustainable Power Grids, which represents 80% of total global demand on electricity. GO-15 includes other major networks like MISO and PJM in the US, National Grid in UK, REE in Spain, RTE in France, Terna in Italy, Eskorn in South Africa, in addition to networks in Brazil, Australia, India, China, South Korea, Japan, Russia and Belgium.
The 2nd day of the Regional Power Trade Forum began with a panel discussion entitled “Opportunities for Initiating Spot Trading in the GCC” and included the following panelists: Mr. Mohamed Al-Flasi – MD, ADWEC, Mr. Ahmed Al-Jahdhami – CEO, OPWP – Oman, Mr. James Matthys-Donnadieu, COO APX Group, CEO Belpex, and Mr. Tan Liang Ching, Vice-President, EMC-Singapore. The session was moderated by Eng. Nasser Al-Shahrani, GCCIA following a speech by Eng. Ahmed Al-Ebrahim, Chief Operating Officer – GCCIA.
During the GCC Executive Roundtable Meeting, Eng. Al-Muhaisin said that GCCIA ranked 16th globally in terms of the size of the energy exchange. He added: “We have made heavy investments since 2001 in the GCCIA. When it began operations in 2009, it was among the leading players globally due to its ability in exchange power between any of the 6 GCC States without having to cross other countries’ networks. The adoption of latest energy solutions made it easy to exchange electricity in GCC.” GO-15, which represents more than 80% of the world’s electricity demand, provides electricity to 3.4 billion consumers on 6 continents and is responsible for integration of 2518 GW of generation capacity into the grid, of which 21% is from renewable energy sources. GO15 was created in 2004 following several blackouts across the world to investigate fundamental issues of common interest to its members and to develop joint action plans addressing improvement of power system security. In 2009, GO15 became a formal organization.
Mr. Daniel Dobbeni, Chairman, GO-15, said: “We welcome the GCC Interconnection Authority to GO-15 and assure that it would be beneficial for a wide range of consumers in the six GCC States. We have been briefed on the vision and missions of GCCIA which are consistent with our vision of Innovate Thinking, Technology Advancement and Industry Leadership.”
The 2nd GCC Executive Roundtable Meeting on Power Trade ended with 7 key recommendations: (1) setting common and cost effective pricing for all power trade transactions in light of the differences in the inputs and model for calculating energy prices in each of the GCC countries; (2) making optimal use of the interconnection grid by exploiting economical opportunities for all member states; (3) GCCIA should take an active role in facilitating the power trade opportunities between member states; (4) trading on commercial basis is the prevailing option for power trade but barter trading can be used under special circumstances; (5) appointing Power Trade Officer (s) to be empowered through access to the GCCIA Market Platform to give/accept offers on behalf of the Trading Party who remains accountable contractually; (6) review and adjust bi-lateral agreement templates, and (7) formulating teams to study opportunities of trading power to be discussed in the forthcoming meeting in December 2014 on the hope to sign off actual trade deals so that the unified GCC electricity market takes shape.
Source:
Mubasher
