An application simulating a renewable energy auction (RES)
The new Act on Renewable Energy Sources (adopted in Poland on February 20, 2015) introduces investments from this sector to a new reality. Until now, such installations received additional revenues regardless of their quality. Now, investments must compete with each other in quality to win a renewable energy auction and realize the return required by investors.
The increase in renewable sources changes the image of the energy sector for both the companies that sell energy and their consumers.
The most frequently asked question on the energy market is: what will the auction price be? Well, it depends on the behavior of auction participants, for now only guesses can be made.
PwC together with the Polish Renewable Energy Association and the Domański Zakrzewski Palinka Law Firm decided to quit writing scripts and try to predict what would happen at the auctions by simulating RES auctions. The event is unique - a year before the Energy Regulatory Office conducted an actual RES auction, the simulation gave investors the opportunity to test their strategies and verify hypotheses regarding prices in the RES auctions.
We have been involved in creating the bilingual online platform ZieloneAukcje.pl, which will allow organizers to simulate renewable energy auctions and learn how to participate in them.
The results of the first Polish trial auction will be discussed during a webinar organized by PwC, PWEA and the Domański Zakrzewski Palinka law firm.