RAE, the Regulatory Authority for Energy, is looking to introduce a mechanism designed to detect and stop, preventively, actions by electricity producers intended to manipulate the market.

This prospective mechanism is expected to identify the actions of players big enough to influence the market and will also be used for any future energy crises with the aim of swiftly returning any windfall profits earned by electricity producers to the market.

RAE has commissioned ECCO International, a global energy consulting and software company headed by Dr. Alex Papalexopoulos, for a related study examining possible ways in which such a safety tool could be implemented in wholesale electricity markets.

Such preventive tools already exist in the US, Canada and Australia, countries with developed energy markets.