Page 10 - Annual Report 2023

6 Power Market Annual Report 1401
Power Market Annual Report 1401 11

IREMA
Bilateral
Contract
IREMA, which stands for Iran Electricity Market, is a community of all stakeholders, partici-
Bilateral
Power Contract pants, future players, companies, organizations, supervising entities, state/private owned hold-
Exchange
ings, that are/will be taking/take a role in electricity market functions. Participants can trade

Power Spot Market electricity through the spot market, energy exchange and bilateral contracts. In the light of this
Exchange
introduction, IREMA is a general term, covering all activities related to the power system re-
structuring and electricity market. IGMC, which stands for Iran Grid Management Company,
Spot Market
takes the role of market/system operator in IREMA. IGMC, inter alia, executes the Day-ahead
Figure 1: Methods of Electricity Trading in IREMA and Intraday wholesale electricity auction (namely referred with the spot market in this report),

and performs the market operation (Billing and Scheduling). Although IGMC does not man-
Figure 1: Methods of Electricity Trading in IREMA age all the electricity trading such as power exchange and bilateral contracts, it is responsible
Spot Market to properly include the trades cleared in those trading environments, in the calculations and
Spot Market
Spot market is operated by the deputy of electricity market of the Iran Grid

Spot market is operated by the deputy of electricity market of the Iran Grid Management Com- modeling of the spot market. Currently, retailers and large industrial end users that their de-
Management Company (IGMC) that is a non- for- profit state-owned
Spot Market
pany (IGMC) that is a non for profit state-owned organization and operates a competitive whole- mand exceeds 5 MW, can purchase their required energy within bilateral contracts and/or power
organization and operates a competitive wholesale electricity market in order to
Spot market is operated by the deputy of electricity market of the Iran Grid
provide 7/24 efficient and fast assistance service. Iran power system encompasses
sale electricity market in order to provide 7/24 efficient and fast assistance service. Iran power exchange. More details are available in our website .
1
Management Company (IGMC) that is a non- for- profit state-owned
86,787 MW installed generating capacity and 55,943 km transmission grid until
system encompasses 86,787 MW installed generating capacity and 55,943 km transmission grid
organization and operates a competitive wholesale electricity market in order to
the fiscal year. 225 market players including market buyers, sellers and
until the fiscal year. 225 market players including market buyers, sellers and transmission com-
provide 7/24 efficient and fast assistance service. Iran power system encompasses
transmission companies are already registered in the spot market. 16 regional
86,787 MW installed generating capacity and 55,943 km transmission grid until
panies are already registered in the spot market. 16 regional electricity companies are the trans-
electricity companies are the transmission owners in Iran.
the fiscal year. 225 market players including market buyers, sellers and
mission owners in Iran. Table 2: Methods of Electricity Trading in IREMA
transmission companies are already registered in the spot market. 16 regional
Hydroelectric,
electricity companies are the transmission owners in Iran. Methods of Electricity Trade
13,029
Tariff based from
Hydroelectric, Spot Market Power Exchange Bilateral Contracts REC/ EDC
13,029 Combine Cycle, 2
32,935 REC *
EDC 3 * *
Steam, 15,829
Combine Cycle, Large Industrial * * *
32,935 End User
Nuclear, 1,020 Steam, 15,829 Retailer * *
Thermal,
21,386
Other, 2,588
Nuclear, 1,020 Thermal,
21,386
Other, 2,588
Figure 2: Installed Capacity by Energy Source in MW

Figure 2: Installed Capacity by Energy Source in MW

5
1. www.irema.ir
2. Regional Electricity Company
5 3. Electricity Distribution Company