RAE, the Regulatory Authority for Energy, has decided to move ahead with an energy balancing and redispatching plan in accordance with a formula prepared by power grid operator IPTO following a meeting yesterday between representatives of ESAI, the Hellenic Association of Independent Power Producers, and IPTO.

Public consultation was also staged by RAE on the IPTO formula, prepared by the operator after being commissioned by the authority.

ESAI has expressed concern about the new plan, warning that changes to the current system could increase, rather than contain, balancing costs in the wholesale electricity market, amongst other dangers.

Natural gas-fired electricity producers noted that balancing market revisions decided on ought to have undergone an extensive trial period before being implemented.