The Federal Government Grants Award for the Third Tranche of the Winter Water Power Reserve
Published: Thursday, Sep 14th 2023, 17:00
Aktualisiert am: Freitag, 13. Oktober 2023, 14:12
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The Swiss Federal Electricity Commission (Elcom) has awarded a contract for 83 Gigawatt hours (GWh) of winter water power reserve in the third and final round of bidding. The cost of this contract is 5.27 million Swiss francs (5.5 million euros). A total of 120 bids for 456 GWh were received in the Swissgrid network company's tender, as announced by Elcom and Swissgrid on Thursday. Combined with the two previous tenders, the total amount procured is 400 GWh, with total costs of 55.5 million euros. No further tender round is planned. The goal of the winter water power reserve was to procure around 400 GWh, with a tolerance of plus or minus 133 GWh. The reserve was to be procured in tranches by September to reduce the cost risk from price fluctuations in the electricity market. The water power reserve requires storage power plants to retain a certain amount of energy in exchange for a fee. The reserve will be called upon if the market cannot meet the demand.nnnnnnnnnnnnnnnnnnnnnnnnnnnn
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