Balancing market costs remained elevated last week despite the introduction of a first round of balancing market restrictions decided on by RAE, the Regulatory Authority for Energy.

The total balancing cost was 9.82 euros per MWh between January 25 and 31, slightly lower than the level of 10.82 euros per MWh registered between January 18 and 24, according to data provided by IPTO, the power grid operator.

Non-vertically integrated electricity suppliers, impacted by wholesale electricity price increases resulting from higher balancing costs since November’s launch of new target model markets, insist that decisions eventual taken by RAE for returns to suppliers of excessive balancing costs need to be retroactively enforced.

RAE has promised to examine this demand but the decision it could take remains unclear.

It should be pointed out that the recently appointed energy minister Kostas Skrekas generally does not favor retroactive enforcement of energy-sector decisions.

At least one non-vertically integrated supplier appears to have taken extrajudicial action against IPTO, overseeing the balancing market, making note of this market’s distortions and the operator’s responsibility.