OPWP begins trial for spot electricity market

Muscat: The Oman Power and Water Procurement Company began the trial operation of the spot electricity market.

A statement issued online by Oman News Agency (ONA) said: "The Oman Power and Water Procurement Company (OPWP) begins the trial operation of the spot electricity market, which will enable the company to purchase the required electricity on a daily basis through the offers of electricity-producing companies."

"These offers will determine the daily electricity purchase prices every half-hour based on the electric energy capacities offered for trading, and the market will work with the system of long-term power and water purchase contracts," added the statement.