Oman has initially planned to introduce a spot market for wholesale electricity trading by 2019-20.

Oman Power & Water Procurement Company (OPWP) has invited firms to bid by 20 December for the contract to provide test services related to the development of the information technology (IT) system that will run the sultanate’s electricity spot market.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The selected service provider will undertake user acceptance tests and interoperability tests.

The sultanate has long-held plans to establish a spot market for electricity trading.

In January 2016, OPWP appointed Finland’s Poyry and multinational law firm Dentons as market and economics and legal advisers, respectively, for the plan to establish the Oman Electricity Market.

OPWP has set a target of introducing the spot market in 2019-20. MEED, the news service, first reported in October 2014 that the sultanate was planning to implement a spot market for electricity pricing by 2020.

Under the plans, OPWP will remain the single off-taker for electricity and will take on an additional role as a market operator. The spot market is planned to increase competition and allow producers to sell excess, older or uncontracted capacity to OPWP. It is unclear how much extra capacity the new market mechanisms will provide.

The introduction of a spot market will assist in the future trading of energy and capacity within the Gulf Cooperation Council (GCC). Oman joined the GCC Interconnection Authority (GCCIA) in late 2014.

MEED
This article is sourced from Power Technology sister publication www.meed.com, a leading source of high-value business intelligence and economic analysis about the Middle East and North Africa. To access more MEED content register for the 30-day Free Guest User Programme.