The European Commission has uploaded, for public consultation, a Market Reform Plan submitted by Greece proposing electricity market revisions.
The public consultation procedure’s feedback will assist Brussels’ assessment of the Greek reform plan. Participants have until September 6 to deliver their responses.
Brussels’ endorsement of the Market Reform Plan is one of two prerequisites needed before Greece can submit an application for a capacity mechanism – either a Strategic Reserve or Capacity Remuneration Mechanism (CRM).
The second prerequisite entails Brussels’ approval of an Adequacy Report, currently being prepared by power grid operator IPTO. The operator initially planned to deliver this report by the end of July but a few more weeks are still needed for its completion.
Greece will be able to apply for a capacity mechanism once the two prerequisites have been satisfied.
The energy ministry and European Commission have agreed on a schedule for the approval of a capacity mechanism by the end of this year and its launch early in 2022.
However, maintenance of this schedule will be difficult given the European Commission’s demands, complex and time-consuming, when examining member-state capacity mechanism plans, officials monitoring the Greek effort have noted.