The energy ministry is close to issuing a ministerial decision that will offer a specific and binding schedule concerning the implementation of the target model, including the launch of energy exchange markets, ministry sources have informed.

Deputy energy minister Gerassimos Thomas, who attended yesterday’s opening energy exchange session for 2020, stressed the target model will be fully functional by the second half of 2020 following a series of delays. This development will offer greater market transparency and eliminate many distortions, he added.

Any violation of the target model schedule will require RAE, the Regulatory Authority for Energy, to impose penalties within 20 days, according to new regulations.

The ministerial decision setting the target model schedule is required by recent energy-sector legislation.

This legislation sets a road map of commitments for power grid operator IPTO and the Greek energy exchange leading to the launch of energy markets.