|
| This is an informative document and does not replace the regulation issued by the CREG. |
|
|
|
Firm Energy Obligation |
 |
The Firm Energy Obligation or OEF, its acronym in Spanish, as mentioned before, is a product designed to guarantee the reliability in the supply of energy in the long-run at efficient prices.
When the spot price surpasses in at least one hour during the day the value previously established by the CREG, which is known as the Scarcity Price, it reflects a critical electric energy supply situation. When this occurs, it serves as a trigger factor for generation companies with OEF allocations to produce, as required in the ideal dispatch, a determined daily quantity of energy.
The OEF can be acquired through centralized transactions in the ASIC. The OEFs are auctioned and allocated uniquely among generators or investors that have or are planning to own generation resources. Only those generators with their corresponding firm energy at a determined time period can participate in the OEF auction.
Firm Energy for the Reliability Charge (Energía Firme para el Cargo por Confiabilidad or ENFICC) refers to the maximum electric energy that a generation plant is able to deliver on a continual basis during a year, in extreme conditions of hydro inflows. The formula for this is presented later in this document.
|
|
|
