ELES preparing auction to buy power for covering losses through 2023

ELES is receiving suppliers’ applications for baseload products of 10 MW for next year and 11 MW for both 2022 and 2023 to cover losses in electricity. Slovenia’s transmission system operator or TSO said interested parties can submit auction documents by June 3.

ELES doo issued a public call for an auction to buy energy and cover losses in the transmission system in the next three calendar years. The transactions are being prepared with BSP Energy Exchange via the Euro Market trading platform, the Slovenian transmission system operator, TSO, added.

Suppliers are invited to offer standardized baseload products of 10 MW for 2021 and 11 MW for delivery in both 2022 and 2023. Potential participants are obligated to submit applications by June 3 at 13:00 and the auction is scheduled for June 9 at 8:00 to 10:00. The system and bidding will be tested on June 4. Participants will need usernames and passwords.

ELES said it would select one or more bidders. According to Slovenia’s Energy Act, the TSO is responsible for losses in electricity.

Legal entities and natural persons can participate if they have a balance agreement or a contract for the settlement of imbalances with the balance responsible party, according to the rules for the commercial public service. The buyer can annul the auction if there aren’t at least three participants for each year or if it concludes the purpose hasn’t been achieved.

The bid bond is worth EUR 7,000 per MW. ELES said it would inform the participants on the same day about the results of the auction for the purchase of power aimed at covering losses. The winner or winners will have to submit a performance bond in the amount of 10% of the contract value.