Synergy Develops Online Trading Platform for Armenia Wholesale Electricity Market

synergy develops online trading platform for armenia wholesale electricity market

USAID SUPPORTS ARMENIAN GOVERNMENT TO LIBERALIZE WHOLESALE ELECTRICITY MARKET

 

On February 1, 2021, USAID/Armenia Acting Mission Director Mr. David Hoffman, Deputy Minister of the Territorial Administration and Infrastructures Mr. Hakob Vardanyan and Chairman of the Public Services Regulatory Commission Mr. Garegin Baghramyan participated in the presentation of the WEM Management System and launched the Pilot -Transition to the new WEM Model in Armenia. About 80 energy sector professionals including the key counterparts for the MLET Program at the Public Services Regulatory Commission, the Ministry of Territorial Administration and Infrastructures, the Market Operator, the System Operator as well as working group members and electricity trade responsible persons assigned from the generators, transmitter, distributor, universal supplier, wholesale electricity trader participated in the event.

To assist in the USAID Market Liberalization and Electricity Trade (MLET) Program’s efforts for liberalizing the Wholesale Electricity Market and improving electricity trade in Armenia, for the past year and a half, Synergy International Systems has been developing Armenia’s first-ever online trading platform for the WEM. This official platform, known as the Armenia Energy Exchange (AEX) Market Management System, will enable market participants to trade in the WEM openly and efficiently by opening access to the energy marketplace.

Using the platform, market participants will be able to bid in online auctions and execute electricity trading transactions. They will also be able to make informed decisions by analyzing statistical data and monitoring the electricity market in real time.

The USAID MLET Program supports Armenia’s efforts to make the country’s energy market more attractive to private investment, to expand electricity trade with Georgia to promote greater energy security for Armenia, to diversify Armenia’s energy supply, and to make the country’s energy markets more efficient and transparent.

 

Disclaimer: This article is made possible by the support of the American People through the United States Agency for International Development (USAID). The contents of this publication are the sole responsibility of the publisher and do not necessarily reflect the views of USAID or the United States Government.