POWER AUCTIONS


The crowning achievements of the Energy Reform regarding the electricity market were, without a doubt, 2016’s power auctions. Those two processes not only achieved some of the world’s lowest energy prices for long-term energy contracts but proved that the authorities of a country with deep state-monopoly credentials in energy could leave all that baggage behind and launch a new and flexible market from scratch. And surprisingly for many a skeptic, succeed at it. Those auctions, as well as the prospect of more to come in 2017 and beyond, attracted some of the most respected international names from Italy, China and Spain as well as hungry home-bred upstarts looking to notch victories. This chapter offers the point of view of some of those winners that now have the task of completing energy generation projects – most of them based on green technologies such as solar and wind power – under very competitive terms and short deadlines. It also showcases the position of regional authorities and technology suppliers involved in the process.