MIDDLE EAST common interests and ideas ”.
Through collaboration with member states , Al-Ebrahim explains that in 2016 , the main thing the company saw was “ the desire of CEOs in the GCC to utilise the GCCIA as the connection for a power trade platform , not only for electricity but for commercial deals that make them save money or make money ”. As a result , the GCCIA has encouraged member states to utilise the GCCIA interconnector for the GCC Power Trading project , which implemented two schemes of trading , carbon trading and cash trading . Al-Ebrahim commented , “ With carbon trading , users pay back the energy they consumed through the use of energy , whilst cash trading enables users to pay for consumed energy through traditional payment .” This method has enabled the company to achieve 1.3 million megawatts hours
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of trading , the largest ever volume of trading the company has ever seen . Al-Ebrahim adds : “ The GCCIA has a key role in providing these kinds of economic utilities for the GCC and achieve the level of savings that we have currently achieved .”
Through expansion , the company aims to not start from scratch , but partner with large names within the region and finalise the model Number of employees at GCC Interconnection Authority for 2018 . Al-Ebrahim explains : “ Now we are achieving around $ 400 million , but the potential could reach more than $ 1 billion , which we can take advantage of .” Undertaking joint collaborations will see the creation of an entity or power exchange platform , of which several discussions to achieve this goal have been undertaken . Al-Ebrahim adds : “ The platform will be primarily a power
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