Oman To Have First Electricity Spot Market In The GCC

Oman is planning to have the first spot market for electricity in the region by 2020.

The move is expected to spur the growth of merchant generation capacity power producers that are not covered by Power Purchase Agreements (PPAs) with Oman Power and Water Procurement Company (OPWP), the sole buyer of electricity under the Sector Law, reported Oman Observer.

Oman will commence operational trials next year in the lead-up to the markets’ formal launch in 2020.

The spot market is expect to attract third party developers from the growing renewable energy industry in Oman.

 “We expect the Spot Market to go live towards the end of 2020,” said Brian Wood, Director Planning & Economics, OPWP. Read more