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Forum reviews challenges facing interconnection

ABU DHABI, December 18, 2015

A leading platform that facilitates power trade opportunities between regional markets aims at initiating a GCC power market to implement actual steps forward in establishing the interconnection.
 
The fourth Regional Power Trade Forum 2015 was opened by Dr Mattar Al-Niyadi, chairman of the board, GCC Interconnection Authority (GCCIA), the organising body of the annual event. 
 
The attendees reviewed the challenges facing the interconnection, to put forward solutions and create a clear roadmap to start energy trade between the six GCC states. 
 
These challenges were identified as the absence of visibility and awareness of electricity costs and the benefits that can be achieved by power trading; energy price distortion due to varying levels of subsidies in GCC countries; differences in national energy policies; differences in local regulations towards crossborder power trading; differences in national power sector structure; and low number of market participants.
 
“We thank all the participating members to join us in Abu Dhabi for the Fourth Regional Power Trade Forum 2015 that proved to be a key event for major development in the energy sector in the future. We have discussed topics related to renewable energy, mainly solar, being the major focus for almost all regional markets,” said Dr Al-Niyadi.
 
The event included three sessions, the first kicked-off with a topic about World Energy Transition, which was followed by a topic discussion entitled ‘Worldwide Experience in dealing with Subsidies.'
 
The second session about ‘GCC Plan to deal with Fuel Subsidies’ witnessed participation of panelists such as Dr Abdullah Al-Shehri - Governor, Electricity & Cogeneration Regulatory Authority (ECRA), Saudi Arabia; Hassan Taqi - director of Economic and Financial Affairs, Authority for Electricity Regulation (Oman); and Dennis Colenutt - affiliated consultant, NERA Consultants.
 
The third Session, entitled pricing in light of subsidies and impact on Electricity Markets, kicked-off around midday.
 
The forum also included briefing on the Pilot Project and Progress Report, as it looked into the potential power trade opportunities during winter of 2016. 
 
The fourth edition discussed the way forward to promote power trade in the GCC countries, with clear roadmap on the process and application. 
 
The focus of the forum in the coming years could be reaching out to other markets to explore potential power trade collaboration. This could be done following actual implementation for power trade across the GCC, Dr Al-Niyadi added. - TradeArabia News Service



Tags: power | Trade | forum | open |

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