PÖYRY PLC Press Release 2 February 2016 12.00 pm (EET)
Pöyry and Dentons awarded consulting services assignment to develop the rules for a new electricity market in Oman
Oman Power and Water Procurement Company (OPWP) has awarded Pöyry and Dentons a consulting services assignment to help create the detailed framework for a new spot electricity market. The electricity sector in Oman is evolving quickly with demand expected to grow at 9% per year, doubling the size of the system by the early 2020s. It has been decided to develop a spot electricity market in Oman that will operate alongside the existing long-term contracting arrangements. This will increase the potential for competition in the sector and create a mechanism to access uncontracted capacity that might otherwise not be accessible.
OPWP has adopted a high level design for the spot market and Pöyry and Dentons will assist in developing this design into the full rules. This is an industry leading project and represents the latest stage in the evolution of Oman's electricity market. If adopted, the structure will be the first of its kind in the GCC countries (Cooperation Council for the Arab States of the Gulf) so this is of both regional and national significance. Pöyry and Dentons bring together deep energy sector expertise in Oman and international experience in designing electricity markets in countries around the world. The project began in October 2015 and is expected to run to the end of 2016.
"Pöyry is proud to support OPWP in this important project, by applying our extensive international market design experience to the development of the electricity market in Oman" says Stephen Woodhouse, Director at Pöyry
"Dentons have a long history of working in the Oman electricity sector and we are delighted to further contribute to its development" says Christopher McGee-Osborne, Co-chair of Dentons' Global Energy practice
The value of the order is not disclosed. The order was recognised within the Management Consulting Business Group order stock in Q4 2015.
Additional information from:
Stephen Woodhouse
Director, Pöyry Management Consulting
Tel: +44 7970 572444
Matt Brown
Vice President, Western Europe and Middle East, Pöyry Management Consulting
Tel: +44 7973 199112
Pöyry is an international consulting and engineering company. We serve clients globally across the energy and industrial sectors and provide local services in our core markets. We deliver management consulting and engineering services, underpinned by strong project implementation capability and expertise. Our focus sectors are power generation, transmission & distribution, forest industry, chemicals & biorefining, mining & metals, transportation and water. Pöyry has an extensive local office network employing about 6,000 experts. Pöyry's net sales in 2014 were EUR 571 million and the company's shares are quoted on Nasdaq Helsinki (Pöyry PLC: POY1V).
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Pöyry Oyj via Globenewswire
