GCCIA expects to complete second phase of electricity pricing platform in 2022

GCCIA headquarters

Gulf Cooperation Council Interconnection Authority (GCCIA) braces for launch of the second phase of the electricity pricing platform for the GCC member states, Al-Eqtisadiah newspaper reported, citing Chief Executive Officer (CEO) Ahmed Al-Ebrahim.  

The project, which began in 2018, is expected to complete in 2022, he added.  

It witnessed active interaction and participation of the electric market members through the completion of the first phase, which marked the launch of the electronic platform, Al-Ebrahim said. 

The authority, in cooperation with the market members, will begin the second phase of the project, where it aims to launch an e-platform to receive offers and requests for trading electricity over short intervals. 

The CEO also pointed out that the launch of the platform comes as part of the authority's plan to develop the immediate market for electricity trade. It is also part of GCCIA's strategy to develop electricity markets among the GCC countries.