RES power auctions to be based on competitive rates

The first three electricity auctions since the renewable energy sources market's new status was introduced will take place on July 2.

The auctions concern 300 MW of annual capacity from photovoltaics, 300 MW from wind power and 400 MW from joint photovoltaics and wind power units.

They will be the first RES quantities to enter the grid according to the new mechanism for their distribution in the market and not stable guaranteed rates.

The Regulatory Authority for Energy will set the highest price per RES technology and the lowest bidder will win the tender.