Electricity

Greece launches three power markets as part of electricity market reform

Greece launches three power markets electricity market reform

Photo: Pixabay

Published

November 5, 2020

Country

Comments

0

Share

Published:

November 5, 2020

Country:

Comments:

0

Share

The Hellenic Energy Exchange (HEnEx) has launched three segments: the day-ahead, intraday and balancing markets – as part of the wholesale electricity market reform.

The country just implemented the European Union’s so-called target model, the cornerstone for the development of a single electricity market in Europe.

Greece was the only EU country that hasn’t implemented a target model until now

For years now, Greece has been delaying plans to reform and couple its wholesale market with Italy and Bulgaria.

Greece is the last country in the EU to introduce the scheme so it had the highest wholesale power prices in the bloc, Energy Minister Kostis Hatzidakis said earlier, as quoted by Ekathimerini.

The target model was rolled out for the day-ahead, intraday, and balancing markets

According to the Institute of Energy for South-East Europe, the introduction of the target model in Greece implied the establishment of the day-ahead market (DAM), intraday market (IDM), and the balancing market. The futures market has been in operation since March.

Coupling with Italy is expected in December, and with Bulgaria in March

Greece’s day-ahead electricity market is expected to couple with the Italian market in December 2020 and with the Bulgarian market in March 2021.

It is anticipated that the new markets will lead to increased competition, greater transparency and an integrated market for the benefit of participants and end-consumers alike.

The operation of the day-ahead market started on November 1 through the submission of bids by suppliers and producers, while the operation of the intraday and balancing markets followed on November 2, IENE said, adding no issues were registered since.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

EU Energy Community support Serbia energy transition Várhelyi

EU, Energy Community extend support to Serbia in its energy transition

02 December 2022 - Minister of Mining and Energy Dubravka Đedović met with top officials from the European Union and Energy Community Secretariat

Romania allows prosumers to install photovoltaic panels in several locations

Romania allows prosumers to install photovoltaic panels in several locations

01 December 2022 - The Government of Romania adopted an executive order to make it easier for prosumers to connect solar panels to the distribution grid

Greece joins European Single Intraday Coupling sidc

Greece joins European Single Intraday Coupling

01 December 2022 - Intraday markets of 25 European countries are now united and the integration has been completed.

PPC Renewables picks Terna biggest solar power plant in Greece

PPC Renewables picks Terna to build biggest solar power plant in Greece

01 December 2022 - The GEK Terna conglomerate gave the best offer for the construction of a 550 MW photovoltaic plant in northern Greece