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

Kosovo measure wind potential auctions public projects

Kosovo* to measure wind potential for auctions, public projects

02 March 2024 - Kosovo* is about to measure wind potential to present the data to foreign investors or develop public projects

Nikšić from solar and wind can produce enough electricity for the entire Montenegro

Solar, wind parks around Nikšić could power entire Montenegro

01 March 2024 - Solar and wind power plants in optimal locations in Nikšić could cover the electricity consumption of all households in Montenegro

dodik buk bijela hydropower montenegro mandic

Republic of Srpska offers Montenegro to join Buk Bijela hydropower project

01 March 2024 - President of the Republic of Srpska Milorad Dodik offered to Montenegro to join the construction of the Buk Bijela hydropower plant

Serbia to couple electricity market with EU by 2026 SEEPEX stojcevski

Serbia to couple electricity market with EU by 2026 – SEEPEX

01 March 2024 - Coupling will make it easier for the industry, as a consumer, and power producers to enter the electricity market