Power firm conducts workshop on spot market

Business Sunday 05/March/2017 17:38 PM
By: Times News Service
Power firm conducts workshop on spot market

Muscat: Oman Power and Water Procurement Company (OPWP), a member of the Nama Group, recently organised a workshop to engage stakeholders in relation to the proposed Omani electricity wholesale market project (spot market) and the future procurement process at OPWP. OPWP is the sole procurer of electricity for consumption in the Sultanate of Oman.
The workshop presented a comprehensive introductory overview of how the spot market project is intended to operate, its legal framework and the benefits it will bring to the stakeholders in the electricity sector.
An introduction to OPWP’s future procurement process was also presented, in which it was noted that this anticipated process will allow for further flexibility in future contracting, as well as providing for an evaluation mechanism to compare between bids from new entry power plants and currently operating power plants who’s power purchase agreements may expire.
“We at OPWP believe that stakeholder engagement is fundamental for the success of the spot market project and the future procurement process. We seek to follow an active collaborative approach with stakeholders to realise the benefits and success of these projects.” said acting chief executive officer of OPWP, Yaqoob Al Kiyumi.
The workshop was held at the Grand Millennium Muscat Hotel, in which senior management and experts in the field of electricity markets were present. The presence of senior management and major stakeholders from across the world showcases the importance of knowledge sharing and stakeholder engagement within the electricity industry.