EVIKEN, the Association of Industrial Energy Consumers, has warned of the institutionalization of new market distortions, through the adoption of the target model, that could significantly affect power utility PPC and ultimately prompt even higher costs for electricity consumers.

Greece’s industrial sector has persevered elevated electricity costs over the past decade, far higher than levels offered to European competitors, EVIKEN sources noted.

The association primarily attributed the country’s higher electricity costs to what it described as the “continual institutionalization of a series of measures that have led to the establishment of a regulated oligopoly in a market flooded by distortions and regulatory obstacles, along with the delayed launch of the new electricity market and market coupling with the neighboring markets of Italy and Bulgaria, as part of the target model’s framework.”

Revisions called for by EVIKEN include a balancing market that will operate through a unit-based central dispatching model.