Red Eléctrica de España (REE) and Réseau de Transport d'Électricité (RTE), operators of the electricity systems of Spain and France, respectively, have allocated the electricity exchange capacity for 2017. This allocation generates revenues of 57.3 million euros. Half of this revenue, which corresponds to Spain, is earmarked towards reducing the regulated costs of the Spanish electricity system.
In the Spain-France direction, 700 megawatts (MW) were offered and allocated, establishing a final price of 2.46 euros/MW, with capacity having been obtained by 15 of the 38 participating agents. In the France-Spain direction, 700 MW were offered and 699 MW were allocated, with a final price of 8.10 euros/MW, with capacity having been obtained by 12 of the 34 participating agents. The number of participants at this annual auction for 2017 has almost doubled compared to the previous year's annual auction.
This auction for 2017 allows accredited agents to obtain the right to use the exchange capacity available between both electricity systems, by submitting bids for each and every hour of the year.
In 2016, the hourly exchange capacity of electricity between Spain and France has reached values of up to 3,100 MW and 3,500 MW, in the direction of Spain to France and France to Spain, respectively, under favourable operating conditions.
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