As part of various adjustments Greece needs to make for the Target Model, aiming to fully integrate the EU electricity market, LAGIE, the Electricity Market Operator, is set to take on additional roles besides that of conducting daily energy planning. Its additional roles will include transboundary electricity management.
LAGIE will be renamed NEMO (Nominated Electricity Market Operator) as part of the adjustment. RAE, the Regulatory Authority for Energy, expects procedures leading to the adoption of the operator’s new title and responsibilities to be completed by mid-October.
The operator will subsequently be certified to function based on NEMO guidelines covering the entire EU region. Essentially, the operator’s expanded role will allow it to offer services through both the Day-ahead and Intraday markets, including to other EU member states.
In Day-ahead markets, buyers place their bids for 24 hour auctions in order to ensure their participation in the market the following day, while, in the Intraday market, transactions are conducted on the day.
The expanded operator will play a significant role in market coupling, a model that has been discussed extensively, over many years, at the European Commission as a key aspect of the plan to further develop electricity trade by EU member states beyond national borders.
Market coupling will entail utilizing daily electricity quantities on a transboundary basis for various regions. Emphasis will need to be placed on achieving price convergence.
All NEMO bodies will serve as market operators at national and regional levels.