Day Ahead Schedule

New market dry-run testing to end this week, target model launch on Nov. 1

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The dry-run testing procedure for market systems ahead of the forthcoming target model launch, scheduled for November 1, will be finalized at the end of this week, RAE, the Regulatory Authority for Energy, the energy exchange and power grid operator IPTO have jointly decided.

Dry-run testing of the day-ahead, intraday and balancing markets began on August 3 to test their limits and operating ability ahead of the target model’s launch, aiming for market coupling, or harmonization of EU wholesale markets.

Market coupling, to increase competition and lower wholesale energy prices, will ultimately lead to energy union, the EU strategy seeking to offer consumers secure, sustainable, competitive and lower-cost energy.

All domestic parties involved, as well as the energy ministry, have ascertained the Greek launch will take place on November 1 following previous delays.

Even during these final days of simulated testing, day-ahead market prices have, at times, continued to display discrepancies with Day-Ahead Schedule price levels.

This has been attributed to the absence, from dry-run testing, of many traders who participate in the Day-Ahead Schedule, meaning the price levels of the two situations are based on different data.

Though balancing market prices have improved considerably as the simulated testing has progressed, following discrepancies, conclusions cannot be made until actual market conditions come into effect.

Meanwhile, public consultation by RAE on a market monitoring mechanism and a market surveillance mechanism for the new markets is due to be completed next Monday.

The market monitoring mechanism will seek, through structural and performance indicators, to evaluate levels of concentration and the market power of each participant, while the market surveillance mechanism will focus on identifying and combating strategies detrimental to competition.

The next step, once the new markets are launched, will be to market couple, initially with the Italian market, by the end of the year, followed by the Bulgarian market, in the first quarter of 2021, Greek energy minister Costis Hatzidakis recently informed.

 

 

Electricity imports up, gas-fueled power stations running non-stop

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A significant drop in gas prices, especially LNG, as well as the availability of particularly lower wholesale electricity prices in neighboring countries have prompted major changes to the country’s Day Ahead Schedule.

Electricity imports via interconnections with Bulgaria, Italy, North Macedonia and Turkey have risen to represent just under 30 percent of overall consumption.

Demand for an even greater level of imports during certain time periods has not been met as a result of infrastructure capacity limits.

Renewable energy generation, also making considerable contributions to the grid’s needs, has, at times, exceeded 30 percent of total consumption.

Gas-fueled power stations operated by independent producers are now operating around the clock, not just during peak hours, as had previously been the case. Offers by these units are now very competitively priced.

Gas-fueled power stations are currently covering over 30 percent of total consumption and lowering wholesale prices.

On the contrary, power utility PPC’s production is covering smaller amounts of daily electricity consumption. The utility’s contribution, currently slightly over 10 percent, primarily stems from its lignite-fired power stations.

RES stations now facing market alone or as green aggregators

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Today marks a historic day for the country’s renewable energy sector as RES stations begin their gradual departure from the security of fixed prices and start facing market challenges for payment of production either alone or through green aggregation arrangements.

RES stations with feed-in tariff agreements will, as of today, need to submit their Day-Ahead Schedule production offers for the next day, as is required of thermal stations.

For the time being, these offers will not concern payments for RES stations but, instead, be limited to their projected output.

Energy aggregation enables a group of companies or local institutions to partner together to buy energy from a single developer, or multiple developers, at smaller volumes while retaining the economic advantages of a high-volume purchase.

At present, 103 RES stations offering a total capacity of approximately 560 MW are obligated to operate through Day-Ahead Schedules. Of these, 455 MW are wind energy facilities, 77 MW are solar energy units, and the remainder concern other RES technologies.

 

RES measures needed now to avoid issues, association warns

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A series of RES sector measures must urgently be legislated and not held back by any pre-election obstacles, otherwise the sector faces a serious risk of devastation, ESIAPE, the Greek Association of Renewable Energy Source Electricity Producers, has warned.

The revisions required include granting deadline extensions for grid connections concerning new RES stations that have submitted installation license applications, the association noted.

Also, connection agreements need to be signed for RES projects that have been completed but whose agreements have remained pending as a result of procedural delays at power grid operator IPTO, ESIAPE noted.

Legislative revisions are also needed to enable the induction of RES producers into the Day Ahead Schedule; permit biomass and biogas electricity production; and to extend work contracts of scientists employed at RAE, the Regulatory Authority for Energy, set to expire on June 30, to ensure the authority’s ability to function properly, crucial for the RES sector, ESIAPE pointed out.