Producers of wind, solar, water, biogas and biomass energy will be able to take part in the auction held for the distribution of the annual production quota of 0.3 TWh. Participants will compete for the price added to the electricity price on the Nord Pool exchange, to be paid for 12 years. The maximum additional price for this auction is set at 3.86 euros per MWh.
Inga Ziliene, chair of the National Commission for Energy Control and Prices, told BNS Lithuania that if any production volume remained undistributed, it would be evaluated when quotas would be set for future auctions.
All in all, the National Commission for Energy Control and Prices plans to distribute 5 TWh by 2025. Ziliene hopes the auction will attract many participants representing all types of technology.
The auction will take place in several stages. It was announced on September 2, and market participants will be required to submit documents from November 11 to 25. The auction committee will evaluate the applications on November 26, and winners will be announced in early 2020.
Energy Minister Zygimantas Vaiciunas said earlier the future auctions would mark a new stage in the area of renewable energy.
Under the National Energy Independence Strategy, power plants using renewable energy resources will produce up to 5 TWh of electricity and reduce the need of power imports by 30 percent.