Wholesale market revisions to be disclosed end of month

The details of the second stage of a study on planned revisions to the electricity wholesale market being conducted by RAE, the Regulatory Authority for Energy, in association with IPTO, Greece’s Independent Power Transmission Operator – locally known as ADMIE – and LAGIE, the Electricity Market Operator, are expected to released by the end of September, or, early October, the latest.

This second stage will include an analytical time schedule of moves that need to be executed by RAE and the two energy wholesalers, IPTO and LAGIE, for a smooth transition towards the market’s target model, as described by ENTSOE, the European Network of Transmission System Operators for Electricity, in its network codes, and other supporting agencies.

The plan’s list of details includes establishing forward contracts for futures market products; a revision enabling bilateral contracts between producers and suppliers operating from outside the daily-market system; implementation of a maximum-level restriction on transactions, based on portfolio percentages of firms dominating supply activity; real-time central planning and distribution for production units; the ability to make offers per unit, as is the case in Italy, and not by portfolio units, as practiced in countries such as France and Germany; establishment of continuous intra-day trading; provisions for calculating deviations per plant and portfolio load, for each supplier; as well as a gradual transfer of responsibility, from the system’s operator to renewable energy source producers, for forecasting, submitting tender bids, and real-time balancing of renewable energy source operations.