The Hellenic Energy Exchange’s (HENEX) outgoing chief executive Michalis Philippou is confident a road map leading to the exchange’s full launch next June will remain on schedule.

Philippou, who delivered an opening speech yesterday at a HENEX seminar titled “Derivatives Market Introduction”, asserted all energy exchange systems will be ready for use by the end of this year ahead of the exchange’s full launch on June 1.

During the preceding six-month period, participants will have the opportunity to become acquainted with the exchange’s systems, while HENEX can make any necessary corrections ahead of the full launch, Philippou pointed out.

The official explained it is crucial for the exchange’s various markets – day-ahead, intraday, futures and balancing – to begin operating concurrently so that harmony can be generated, otherwise the effort to establish a new model would run into problems.

This essentially means the energy exchange’s full launch next June should, more or less, signal the start of the target model, envisioning the harmonization of EU wholesale markets.