The Department of Energy (DOE) plans to conduct an auction for offshore wind (OSW) technology next year.
THE Department of Energy plans to conduct an auction for offshore wind technology next year.
However, she said the agency would have to adjust accordingly the Green Energy Auction Reserve prices for OSW as this varies per technology. The GEAR prices are set by the Energy Regulatory Commission . “This time for GEA2 [Green Energy Auction round 2], we had a lot of communication with the ERC and the developers because they were not happy with the original GEAR prices that ERC came up with. So, we may have to redesign GEA for OSW next year. I think the GEAR will be coming out next week,” she added.
The first round of GEA was conducted in June last year. It generated almost 2,000megawatts of capacities that were committed to deliver energy from 2023 to 2025 at a competitive price lower than or equal to the GEAR prices.
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