The Energy and Gas Regulation Commission (CREG) called a new expansion auction for the assignment of firm energy obligations (OEF) between power generators, project developers, investors, in order to guarantee the future supply of electricity at efficient prices.
(‘Tax reform may affect energy prices’).
The Administrator of the Commercial Exchange System (ASIC) will be in charge of carrying out this auction for the period of validity between December 1, 2027 and November 30, 2028and all legal persons, natural persons or agents that commercially represent existing plants or power generation units, existing with works, special and new may participate in it.
The companies that voluntarily participate in this auction will commit to putting the energy projects into operation on the date specified in the auction call.
In addition, they acquire the commitment to generate the energy obligation that is assigned to them in the auction during times of drought (or critical condition of the system), to ensure the continuous provision of the service to all the users of the country that are connected to the National Interconnected System (SIN).
(The four pillars of the strategy to reduce energy prices).
In order to participate in the auction called by CREG, the agent, developer or investor must present a certificate from the Mining-Energy Planning Unit (UPME) stating that the plant or generation unit has a connection concept to the SIN.
Likewise, the participants in the auction must present a financial guarantee that ensures the entry into commercial operation on the date established by the companies themselves, and that may be executed if said commitment is not fulfilled.
Additionally The companies must submit the construction schedule of the power generation project, to audit its progress.
(Isagen also introduced measures to lower energy prices.)
For those plants or generation units with obligations that enter into commercial operation before December 1, 2027, the CREG established as an incentive that they can begin to receive the remuneration of the assigned reliability charge from their entry into operation, without modifying the date of completion of the energy obligations acquired in the auction.
The reliability charge expansion auction for the assignment of firm energy obligations is a mechanism that has been operating since December 2006 to ensure the reliability of the supply of electric power to SIN users and provide protection against the high energy prices expected in times of low hydrology.
This auction for the allocation of firm energy obligations called by the CREG corresponds to the fourth of its kind in the country, for which the Commission has based itself on the lessons learned and best practices from previous processes.
BRIEFCASE
