Energy exchange PPA platform proposal by end of the month

A Greek energy exchange proposal for the formation of a platform facilitating green-energy power purchase agreements is expected to be delivered to the energy ministry within the next two to three weeks, energypress sources have informed.

The energy exchange’s proposal will be forwarded to the ministry once joint research with professional services firm Grant Thornton is completed and the study’s findings have been considered. The search for a standardized format for PPAs is a key issue of the research.

Banks have also expressed preferences and become involved in the process.

The European Federation of Energy Traders long ago established a template for corporate PPAs, but, according to Greek energy exchange sources, this model contains several issues that need to be addressed.

Once a finalized format has been prepared, it will be rediscussed with banks, to play a crucial role in the success of the PPA platform and PPAs, in general.

Top energy sector officials taking part at Power & Gas Forum, March 22-23

The government’s top-ranked energy sector officials as well as a host of other leading figures from political, institutional, academic and business domains will be talking part in the Power & Gas Forum on March 22 and 23 at the Wyndham Grand Athens Hotel, an event being staged by energypress for a fourth time. Conference speakers and attendees will participate in person.

Speakers at the event will include Greek energy minister Kostas Skrekas; the energy ministry’s secretary-general Alexandra Sdoukou; secretary-general of transport at the ministry of infrastructure and transport Ioannis Xifaras; RAE (Regulatory Authority for Energy) president Athanasios Dagoumas; EFET’s (European Federation of Energy Traders) Jerome Le Page; Tomás Llobet of European Energy Retailers (EER); two former Greek energy ministers, Giannis Maniatis and Giorgos Stathakis; Sokratis Famellos, a member of the main opposition leftist Syriza party; and Haris Doukas of the PASOK-KINAL socialist party.

Other conference participants will include power grid operator IPTO’s chief executive officer Manos Manousakis and his deputy Giannis Margaris; gas grid operator DESFA’s chief executive Maria Rita Galli; RES market operator DAPEEP’s president and CEO Giannis Giarentis; distribution network operator DEDDIE/HEDNO’s chief executive Anastasios Manos; EDEYEP (Hellenic Hydrocarbons and Energy Resources Management Company) president Aristofanis Stefatos; the Hellenic Energy Exchange’s newly appointed CEO Alexandros Papageorgiou; EDA THESS general manager and EDA ATTIKI CEO Leonidas Bakouras; the Greek prime minister’s special adviser for energy Nikos Tsafos; energy ministry adviser Theodoros Tsakiris; and energy markets guru Alex Papalexopoulos.

The academic community will be represented by professors Pantelis Kapros, Stavros Papathanasiou, Pantelis Biskas, Nikolaos Hatziargyriou and Antonis Metaxas.

As always, energy-sector authorities will also participate at the event. They include Loukas Dimitriou (ESAI/HAIPP – Hellenic Association of Independent Power Producers); Antonis Kontoleon (EVIKEN – Association of Industrial Energy Consumers); Giannis Mitropoulos and Miltos Aslanoglou (ESPEN – Greek Energy Suppliers Association); Irodotos Antonopoulos (ESEPIE – Hellenic Association of Electricity Trading & Supply Companies); Panagiotis Lostarakos and Panagiotis Papastamatiou (ELETAEN – Greek Wind Energy Association); Stelios Loumakis (SPEF – Hellenic Association of Photovoltaic Energy Producers); and Stelios Psomas (SEF/HELAPCO – Hellenic Association of Photovoltaic Companies).

Key sector entrpreneurs and executives who have so far confirmed their participation include: Ioannis Kalafatas (Mytilineos); Kyriakos Kofinas (PPC); Nikolaos Zahariadis (Elpedison); Anastasios Lostarakos (NRG); Dinos Nikolaou (Energean); Kostis Sifnaios (Gastrade); Nikolaos Satras (Dioryga Gas); Panos Nikou (Volterra); and Ioannis Kokkotos (ABB).

The forum’s full agenda will be finalized and announced in the coming days.

Officials fear local infrastructure impact of Turkish-Bulgarian gas deal

A Turkish-Bulgarian gas supply agreement reached last month is troubling Greece’s energy players at institutional and market levels as its impact could affect the role of Greek infrastructure, officials have told energypress.

Local officials are mostly concerned about the deal’s gas supply quantity eventually growing in size rather than the small gas quantities it currently involves, as they only cover a small percentage of Bulgaria’s gas needs.

The majority of Bulgaria’s gas needs are still planned to be covered by LNG shipments coming in through the LNG terminal at Revythoussa, close to Athens, while the prospective Alexandroupoli FSRU in Greece’s northeast will, no doubt, contribute to cover Bulgarian gas demand, once the project is launched.

Turkey and Bulgaria, represented by their respective state energy companies, Botas and Bulgargaz, signed a 13-year gas supply agreement on January 3, according to which Turkey is required to supply Bulgaria an annual gas quantity of 1.5 bcm.

EFET, the European Federation of Energy Traders, wants the Turkish-Bulgarian agreement investigated by the European Commission’s Directorate-General for Energy and Directorate-General for Competition, contending European regulations and the overall institutional framework defining the operation of gas infrastructure within the EU and access to interconnection points have been breached.

EFET: Greek market restrictions, imperfections repelling traders

Greece’s electricity market is not an appealing prospect for traders as a result of a series of imperfections and restrictions, the European Federation of Energy Traders (EFET) has noted, informing the Greek energy exchange of an urgent need for a clear-cut schedule leading to solutions as soon as possible.

The EFET observations on the Greek market were part of a wider report covering markets of EU member states in southeast Europe.

The existing model applied in Greece does not allow market participants to trade freely in the country’s electricity market, EFET pointed out, noting, for example, that over-the-counter contracts are only partially permitted as traders cannot buy and resell electricity quantities in Greece, but, instead, need to export quantities they have purchased.

A rule forbidding market participants to switch from forward to day-ahead or intraday markets was another issue identified by EFET.

EFET also made note of rigid market rules conditions for transboundary trading that require imports and exports to be scheduled separately.

Greek-Turkish grid link maintenance reset prompts traders’ reaction

Traders who have secured year-long physical transmission rights (PTRs) through the Greek-Turkish grid interconnection stand to lose over 150 euros per MWh, according to the European Federation of Energy Traders (EFET), as a result of a change in the annual maintenance schedule for the link made by the operators of the two countries, subjecting traders to unanticipated higher wholesale electricity market prices in both markets at present.

Greek power grid operator IPTO and its Turkish counterpart, TEIAS, have reset this year’s annual maintenance period for the grid link to November 8-14, instead of the initial, and customary, September 13 to 19 period.

EFET has underlined that holders of PTRs will be compensated based on the initial marginal price of the annual auction, 15.38 euros per MWh.

EFET has forwarded a letter to IPTO, TEIAS and other related bodies calling for a further  deferral of November’s planned maintenance work at the the Greek-Turkish grid interconnection until early next year, so that traders making annual PTR offers can take into account the maintenance period.

Regulated electricity prices ‘impeding clean energy package’

Regulating retail prices impedes the successful implementation of the Clean Energy for All Europeans Package, a unique opportunity that would empower European energy consumers, Eurelectric, Europex, WindEurope and EFET (European Federation of Energy Traders) have warned in a joint statement.

The package promises to empower consumers through a combination of measures, such as efficient price signals, certified comparison tools and easy switching, the four associations noted. Should retail prices continue to be regulated in some member states, the benefits brought by the Clean Energy Package would be severely weakened, they stressed.

Retail price regulation is also a serious obstacle to competition among electricity supply companies, the groups noted, as this reduces the incentive of companies to become more efficient and discourages the emergence of new market participants, they explained.

In addition to their negative impact on retail markets, regulated prices also distort the functioning of the wholesale markets, limiting and partly undermining the price formation process, ultimately leading to higher electricity costs for all consumers, the associations noted.

Regulated end-user prices aim to protect household – even non-household – consumers from energy costs increases but the pricing methodology often lacks transparency and can prove counterproductive, the associations stressed.

Also, the phasing-out of regulated prices does not imply the end of fixed-price contracts, the associations specified, adding that electricity suppliers will continue to offer such contracts.

EFET files complaint against Greek, Bulgarian operators

The European Federation of Energy Traders (EFET) has filed a complaint to the European Network of Transmission System Operators (ENTSO-E) against the Greek and Bulgarian power grid operators, noting that the two are restricting trans-boundary trade between the two countries.

EFET described the conduct of IPTO, Greece’s power grid operator, and ESO, its Bulgarian counterpart, as abuse of their dominant positions in natural monopolies.

The complaint filed by EFET was prompted by IPTO’s decision to ban electricity exports on January 11 and 12 and ETO’s ensuing electricity export ban, which began on January 13.

EFET noted that the trans-boundary trade restrictions imposed led to the violation of guaranteed rights concerning interconnection access.

In its complaint, the federation also pointed out that the export ban negatively impacted market players who do not have access to alternative electricity sources, prompting significant financial damages for certain producers.

This EFET complaint is the first to be filed as a result of the developments prompted by the energy crisis in early January. As a result, both IPTO and ETO are now both being closely watched by European authorities.