On 2 July, Greece has held its first regular competitive auction for awarding renewable energy capacities, after significantly reducing the amount of offered capacities due to a number of rejected applications.
The descending-price renewable energy auctions, representing a shift from the standard feed-in tariff model, resulted in considerably lower rates to be paid to investors compared to starting prices. The top prices reached in the three auctions held by the Regulatory Authority for Energy (RAE) will be used for setting starting prices for the next auctions of renewable energy capacities, which will be organized by the end of the year.
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Tags: electricity, Greece, RAE, regulation, renewables, RES, RES auction, solar, support scheme, wind