BUSINESS REPORTER
MUSCAT, JUNE 13
Oman Electricity Transmission Company (OETC) has signed three agreements with the GCC Electricity Interconnection Authority to support power exchange and trading arrangements between the two sides. The agreements were signed at the Authority’s headquarters in Dammam (Saudi Arabia) in the presence of representatives of the stakeholder parties.
The first agreement enshrines the exclusive right to use the electrical interconnection assets. It spells out the mechanisms for ownership, operation and maintenance of the 220 kV interconnection assets in the Sultanate of Oman on behalf of the GCC Interconnection Authority.
The second agreement grants OETC the mandate to management the entire link, although the Authority has the exclusive right to use the assets of the interconnection in the event of any emergency and energy exchanges. The third pact sets out the terms for the operation of the interconnection between the two parties.