With a view to binding sufficient quantities to secure their portfolio, participants in the latest NOMEs in 2018 moved aggressively, resulting in a price increase of up to 54.74 € / MWh – a record price among the auctions to date. The quantity set for sale was a total of 683 MW, 511 MW of which was the programmed start-up plus a further 172 MW additional quantity due to deviation from the targets the country is committed to. This sharp rise in price seems to have resulted from market data. Specifically, the changes that will be implemented by RAE from next auction (January 2019) which concern the limitation of exports of NOMEs quantities that are allowed to be used by the Suppliers. This put pressure in the last two auctions on the export-oriented participants in order to claim quantities much larger than their needs. At the same time, the existing high System Marginal Price at 70 € / Mwh keeps even the price of the last auction in the competition sphere.
