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Greek energy exchange founded, launch expected in mid-2019

June 21, 2018 | Comments: 0Author:

Photo: Pixabay
Greek energy exchange founded, launch expected in mid-2019

The Hellenic Energy Exchange has been founded as part of the EU’s target model to create a single energy market, Greece’s Environment and Energy Ministry said.

The Greek energy exchange is expected to launch operations in mid-2019, the Greek Observer reported, citing an announcement from the ministry.

The country’s first energy exchange will be owned by state-owned electricity market operator LAGIE, the Athens Exchange Group, the Hellenic Independent Power Transmission Operator (ADMIE), the European Bank for Reconstruction and Development (EBRD), and the Hellenic Gas Transmission System Operator SA (DESFA).

The institution will organize and operate Greece’s new electricity, natural gas and environmental markets through providing access to new energy markets and introducing new products on the domestic market, said the EBRD, which is investing EUR 1 million for a 20% stake in the Hellenic Energy Exchange, its first-ever investment in an energy exchange.

The funds will be used to finance the establishment of the first energy exchange in Greece, the EBRD said in a news release.

The Hellenic Energy Exchange will provide access to new liquid energy markets and products that will, among others, support greater domestic competition, reduce barriers to entry for new energy market participants and allow the effective participation of renewable energy producers in the electricity markets. It will also support regional integration by facilitating market coupling with Greece’s neighbors, for example Italy and Bulgaria, the EBRD said.

The Hellenic Energy Exchange will offer a comprehensive set of new energy trading products well above the minimum requirements for compliance with the EU target model, including new spot plus new physical and cash-settled energy derivative products, according to the EBRD’s news release.

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