Power grid operator IPTO is close to completing its updated grid Adequacy Report, expected to be ready within December for delivery to the European Commission. The report is needed to determine the shape of Greece’s proposals for a Strategic Reserve Mechanism and a Capacity Remuneration Mechanism (CRM).
The way towards completing the Adequacy Report was paved by the recent establishment of three required indices – CONE (Cost of New Entry), VOLL (Value of Lost Load) and Reliability Standard – by RAE, the Regulatory Authority for Energy, and the energy ministry. These indices need to be factored into calculations before the Adequacy Report can be completed.
Plans for two new gas-fueled power stations, one by a TERNA-Motor Oil partnership, the other by the Copelouzos group, have emerged since assumptions made for IPTO’s study, which had been put to public consultation.
The launch of the two new units over the next few years is expected to greatly contribute to the grid’s reliability.