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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Saudi Arabia launches linking the Gulf electricity market with Iraq

    Rocky
    Rocky
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    Saudi Arabia launches linking the Gulf electricity market with Iraq Empty Saudi Arabia launches linking the Gulf electricity market with Iraq

    Post by Rocky Sun 08 Oct 2023, 10:40 am

    [size=45][size=41]Saudi Arabia launches linking the Gulf electricity market with Iraq[/size]
     two hours ago
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    Saudi Arabia launches the platform for the project to link the Gulf electricity market with Iraq at the headquarters of the Gulf Electricity Interconnection Authority in Dammam.
    The CEO of the Gulf Interconnection Authority, Ahmed Al-Ibrahim, said that the platform opens the horizons of the Gulf market for trade and exchange of electrical energy between the (six) Gulf Cooperation Council countries with the Republic of Iraq.
    He added that the platform enables the Gulf countries to conclude bilateral or multiple deals between parties, in addition to reserving the lines required to transfer electrical energy between the Gulf countries, noting that the platform opens areas of intra-Gulf trade in an easy and effective manner.
    He pointed out that the platform enables Iraq to exchange and trade electrical energy with the countries of the Gulf Cooperation Council collectively, separately or individually, which will give wide flexibility to the exchange and trade of energy between the Republic of Iraq and the countries of the Gulf Cooperation Council.
    He pointed out that the energy exchange and trade platform project serves as a system for managing the electrical market, as the Electricity Interconnection Authority will replace the current electricity market management system with a new system that keeps pace with the new phase, to respond correctly to the continuous development of the market and achieve the specific goals and needs of the Electricity Interconnection Authority for the Gulf Cooperation Council countries. Arab League in linking it with the sister Republic of Iraq.
    He stated that the motivation for the new electrical market system contributes to raising efficiency to make the most of the electrical link to the Gulf Cooperation Council countries, as well as flexibility in use for market users, traders and associated parties.
    He explained that the new system is characterized by the ability to smoothly expand to new market areas without a decisive impact on the auction systems and algorithm and commercial operations, in addition to the possibility of interoperability to be a reliable interface with other market sectors, with a settlement and billing system that covers the needs.
    He added that the new system constitutes a unified solution for “sophisticated” unified data exchange and a solid foundation for the future development and upgrade of the information management system platform for the Gulf Cooperation Council countries and the Republic of Iraq.
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