Report: Moroccan electricity board eyes Spanish energy market

The Moroccan national electricity board "ONE" has obtained a concession to act as an external agent in the Spanish energy market, reports Spanish business daily "Expansion."

The license grants to the Moroccan board the right to buy and sell energy on the Spanish market as well as to import electricity from Morocco and export to Spain Moroccan-made energy.

The daily also recalls the enforcement last May of the contract signed with Spanish electricity board "Red Electrica Espagnola" (REE) for the annual supply to Morocco of some 300 megawatts for three years via the submerged high tension cable between the two banks of the Straits of Gibraltar.

The contract, providing for a total bill of 204 million euros, expires in December 2002 and has already enabled to supply an hourly 700 gigawatts of electricity.

Although Morocco is currently facing a deficit in electric energy production, ONE is resolved to have its share on the Spanish market as the sector is expected to post a surplus with the launching of the sub-marine cable.