The establishment of a Greek energy bourse promises to lead to structural changes at LAGIE, the Electricity Market Operator, including a company split separating its market-related tasks.
The prospective development was pointed out yesterday at a conference organized by LAGIE and titled Energy Bourse and Electricity Market Developments. The issue is currently being examined by authorities. Decisions have yet to be taken.
LAGIE’s president and managing director Michalis Filippou, speaking at the event, noted that all necessary measures will need to be taken to protect existing jobs at the operator, while adding that it is still too early to discuss specific plans.
Participants expressed confidence that all procedures concerning the establishment of the energy bourse would be completed on time, despite a tight scheduled faced by the country.
LAGIE is currently also responsible for services not related to the market, which is preventing the operator from focusing on vital tasks, Dr. Alex Papalexopoulos, the head official at ECCO International Inc., an experienced US-based global energy consulting and software company, told the conference. ECCO is a key supporter of LAGIE’s effort to establish an energy bourse.
LAGIE will need to sharpen its focus amid changing market conditions, it was pointed out at the conference. An appropriate plan will need to be found so as to enable LAGIE to establish a proper functioning energy bourse that will not only represent the local electricity market but also expand to cover the natural gas and emissions markets as well.
Also participating at the event, Pantelis Kapros, a professor at the National Technical University of Athens (NTUA) and a former president of RAE, the Regulatory Authority for Energy, noted that LAGIE could acquire a larger equity base involving the participation of numerous banks.