NIGC introduces Iran’s energy optimization market to manage consumption


(MENAFN) The National Iranian Gas Company (NIGC) has introduced Iran’s energy and environment optimization market at the Iran Energy Exchange (IRENEX), marking a significant step in managing the country's energy consumption, as reported by an Iranian news agency.

During the unveiling ceremony, NIGC head Majid Chegeni emphasized the market's role in fostering public participation in energy management. He highlighted achievements over the past three years in gas and energy management, citing the energy optimization market as a pivotal tool for enhancing efficiency and sustainability.

Chegeni noted that NIGC has obtained a license to supply 125 million cubic meters of gas via IRENEX, with a portion already available for market trading. The issuance of energy-saving certificates, capped at 10 billion cubic meters, aligns with the Budget Law of 1403, mandating the Ministry of Petroleum to issue certificates totaling 40 thousand billion rials for optimization projects.

In tandem with the market launch, plans are underway to replace one million low-efficiency heaters with high-efficiency models through a partnership between Iran Gas Trading Company and a local firm. This initiative aims to enhance energy efficiency and reduce environmental impact.

Chegeni affirmed NIGC's commitment to leveraging domestic production capacities for implementing the heater replacement plan, emphasizing collaboration with capable national manufacturers.

The introduction of Iran's energy optimization market underscores efforts to streamline energy consumption, promote sustainability, and drive economic efficiency amid evolving energy sector dynamics. Continued initiatives and partnerships are expected to further advance these objectives in the coming years.

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