The introduction of energy exchange spot markets, in September, when they are scheduled to begin operating, without the adoption of safety measures facilitating competition and preventing manipulative methods, primarily by power utility PPC, the market’s dominant player, could lead to undesired results and strengthen the market’s monopolistic character, independent electricity producer representatives have told energypress.

The officials expressed their concerns as a monitoring mechanism being prepared by RAE, the Regulatory Authority for Energy, with consultancy support, may not be fully functional at the time of the target model’s launch.

The monitoring mechanism is considered the basic tool in the effort to ensure healthy competition in electricity markets as it will be used to collect data from power grid operator IPTO and the Greek energy exchange and identify any manipulative practices in the wholesale market.

Interventions needed, according to independent electricity producers, include restricting PPC’s ability to establish two-way agreements; offering support to the new target model market with a supplementary market offering capacity availability; and protecting markets, overall, through powerful, consistent and independent monitoring mechanisms.