Target model implementation ‘requires 28 to 29 months’

A summarized draft prepared as a second round of procedures aiming to implement the target model for Greece’s electricity market is expected to soon be forwarded for public consultation, possibly even today.

The plant’s draft, prepared by ECCO, a specialized Energy Consulting Company headed by energy expert Dr. Alex Papalexopoulos, includes a detailed schedule of projects that will need to be developed by RAE, the Regulatory Authority for Energy, as well as in the wholesale market through IPTO, the Independent Power Transmission Operator – locally referred to as ADMIE – and LAGIE, the Electricity Market Operator, for the market’s smooth transition towards the target model.

Besides the time schedule, the second-round draft details software to be used to measure the precise impact of the revisions on all electricity units in the system.

Sector officials working on the adjustment program said it would take between 28 and 29 months to complete all the needed projects for full implementation of the target model.

A full version of the target model plan, to cover some 1,000 pages, is expected to be presented by October 30.

RAE, IPTO and LAGIE have announced the transition plan’s outline, which includes creating a futures market, maintaining central planning and distribution of the system’s real-time production units, and a gradual transfer of responsibility for forecasting, bid submissions, and real-time balancing of Renewable Energy Sources (RES) from the system’s operator to the RES producers.