With its eyesight set on the implementation of EU’s “target model”, Greece’s Electricity Market Operator (LAGIE) and the Athens Exchange, have joined forces in setting up the country’s first Energy Exchange, now scheduled to commence operations in April 2019With its eyesight set on the implementation of EU’s "target model”, Greece’s Electricity Market Operator (LAGIE) and the Athens Exchange, have joined forces in setting up the country’s first Energy Exchange, now scheduled to commence operations in April 2019. The Hellenic Energy Exchange is set out to organize and operate Greece’s new electricity, natural gas and environmental markets by providing access to new energy markets and introducing new products on the domestic market, said the EBRD, which is investing EUR 1 million for a 20% stake in the Hellenic Energy Exchange, its first-ever investment in an energy exchange.The funds will be used to finance the establishment of the first energy exchange in Greece, the EBRD said in a news release.
The Hellenic Energy Exchange will provide access to new liquid energy markets and products that will, among others, support greater domestic competition, reduce barriers to entry for new energy market participants and allow the effective participation of renewable energy producers in the electricity markets. It will also support regional integration by facilitating market coupling with Greece’s neighbors, for example Italy and Bulgaria, the EBRD said.
The Hellenic Energy Exchange will offer a comprehensive set of new energy trading products well above the minimum requirements for compliance with the EU target model, including new spot plus new physical and cash-settled energy derivative products.
The first market to operate within the Hellenic Energy Exchange will be that of the Power Exchange. In a separate piece which has just been uploaded on this site the Athens-based KG Law firm has contributed a special report on the Hellenic Power Exchanges which describes in some detail on how this market is going to opperate.
