Poland will hold its first power capacity auction on Nov. 15, the Ministry of Energy announced Tuesday.
In a statement issued on its official website, the Ministry said the minister of energy had signed all regulations necessary to conduct its first capacity auction in Poland starting on Nov. 15 for utility companies to compete to supply power in 2021.
Auctions for power supply in 2022 and 2023 will take place on Dec. 5, and Dec. 21, respectively.
'The power market will ensure stable electricity supply to households and industry in the long-term, thanks to which every energy recipient in the country will be able to use electricity in time and in quantities according to their needs,' the ministry said.
'It is also the most cost-effective way to ensure the right amount of power, because the power is contracted with the help of the auction, in which individual power providers compete with each other,' it added.
The auctions will be preceded by a certification process, which will start on Wednesday, the statement said.
Capacity markets ensure that consumers continue to have access to reliable power supplies at affordable prices.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr