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Publish Date : 04-Feb-2016

Oman Power and Water Procurement Company (OPWP) has awarded Poyry and Dentons a consulting services assignment to help create the detailed framework for a new spot electricity market. The electricity sector in Oman is evolving quickly with demand expected to grow at 9% per year, doubling the size of the system by the early 2020s. It has been decided to develop a spot electricity market in Oman that will operate alongside the existing long-term contracting arrangements. This will increase the potential for competition in the sector and create a mechanism to access uncontracted capacity that might otherwise not be accessible.

OPWP has adopted a high level design for the spot market and Poyry and Dentons will assist in developing this design into the full rules. This is an industry leading project and represents the latest stage in the evolution of Oman's electricity market. If adopted, the structure will be the first of its kind in the GCC countries (Cooperation Council for the Arab States of the Gulf) so this is of both regional and national significance. Pyry and Dentons bring together deep energy sector expertise in Oman and international experience in designing electricity markets in countries around the world. The project began in October 2015 and is expected to run to the end of 2016.

"Poyry is proud to support OPWP in this important project, by applying our extensive international market design experience to the development of the electricity market in Oman" says Stephen Woodhouse, Director at Poyry.

"Dentons have a long history of working in the Oman electricity sector and we are delighted to further contribute to its development" says Christopher McGee-Osborne, Co-chair of Dentons' Global Energy practice.

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