GCC power grid could save USD 1.8 bln - official

ABU DHABI, Sept 28 (KUNA) -- The GCC electricity network could save up to USD 1.8 billion in fuel operating costs if GCC energy exchange is activated, a senior UAE power official said here on Sunday.
In a keynote speech during the 3rd Regional Power Trade Forum 2014, held by the GCC Interconnection Authority (GCCIA) today, Under-Secretary of the UAE Ministry of Energy Matar Al-Neyadi said the GCC power grid could save more than USD 5 billion of investments in the GCC power energy and could even prevent power cutoff.
He added that the GCC grid had prevented over 1,072 incidents of power black outs since 2009, through direct instantaneous transfer of required power across the grid, thus avoiding losses that could have been triggered due to full and partial interruptions.
On the forum held under the theme, "Developing Power Trade through the GCC Interconnector", Al-Neyadi said that the agenda of the 3rd Regional Power Trade Forum will tackle several important topics, including expertise in the evolution of the power market in the GCC and international case studies in power trading, as well as the restructuring of the power sector in Gulf region and the development of local energy markets.
The two-day forum also includes a discussion of the potential held by the winter and summer seasons for the electricity grid and efficient steps to activate the electricity trade market immediately. (end) asa.mt