Page 14 - annual report 1402
P. 14
Power Market
14 Annual Report
1402
odically by the regulator . This is notable that the mandatory regulations
1
prohibit capacity withholding. IREMA drives a single side auction. IGMC
is responsible to find the least cost solution for meeting the energy
demand in the next day. Generally, the sellers are paid for their energy
production considering their offered prices, and on the other hand the
buyers are charged by the energy average price at each hour.
1 - The Minister of Energy has the authority to determine the price cap. The price cap from 2022-03-21
to 2022-09-14 was 642,000 Rials/MWh and from 2022-09-15 to 2023-03-20 was 803,000 Rials/MWh. It is
noteworthy that fuel tariff for electricity generation is highly subsidized. The price of fuel for power plants was
250 Rials/m^3 in last fiscal year .
