The energy ministry intends to set new launch dates for the target model and energy exchange markets once it has drawn conclusions from a crucial meeting today with representatives of RAE, the Regulatory Authority for Energy, the Greek energy exchange, and power grid operator IPTO.

A previous June 30 target model launch date will definitely be missed as a result of various delays, including a pandemic-related hold up in the delivery of a balancing market platform by General Electric to IPTO.

The revised target model schedule, to be included in a related ministerial decision, will be based on the new feasible launch date for energy exchange markets.

No pending issues remain concerning the operating regulations to apply for the new markets. All rules have been approved.

Certain formula details, including a much-debated formula concerning the percentage of production each producer will be able to secure through contracts, are expected imminently, prior to June 22, when the tenure of RAE’s head official is set to expire.

A GE team that was stationed in Athens for the balancing market platform project left the country without notice, citing the possibility of greater pandemic danger ahead.

IPTO is now closely coordinating with GE for a specific delivery date, following the relaxation of lockdown measures.

Well-informed authorities insist that the energy exchange’s spot markets cannot be launched before mid-September.