Energy exchange update
(Article by Aspa Pergamineli – Associate, published in the Energy & Natural Resources Newsletter of the ILO on November 23, 2020)
Introduction
Following the completion of the public consultation conducted by the Regulatory Energy Agency (RAE) between
8 September 2020 and 11 September 2020, the RAE designated 1 November 2020 as the effective date of
operation of the intraday and day-ahead markets (electricity markets) and the balancing market, as part of the
unified set of the new target model. Further, between June 2020 and September 2020, the RAE issued a
series of delegated decisions in accordance with the Hellenic Energy Exchange and EnEx Clearing House SA
(EnExClear) rulebooks, the market balancing rulebook and Law 4425/2016 in order to regulate:
- access to the electricity markets;
- clearing members’ obligations; and
- risk management measures in both the electricity markets and the balancing market.
Delegated decisions
These decisions are as follows:
- Decision 934/2020 – approving EnExClear’s implementing decision entitled “Risk management
procedures in the Clearing System of the Electricity Markets and other related issues”; - Decision 945/2020 – concerning the methodology for imposing measures on participants in the electricity
markets; - Decision 947/2020 – regarding participants’ access to specific types of order in the electricity markets, the
submission parameters and the technical details concerning content; - Decision 950/2020 – concerning fees and charges for the operation of the electricity markets for 2020 to
2022; - Decision 955/2020 – approving the EnExClear’s implementing decision regarding the methodology for
imposing measures on clearing members of the balancing market; - Decision 1034/2020 – approving EnExClear’s implementing decision entitled “Risk management
procedures in the Clearing System of the Balancing Market Positions”; and - Decision 1007/2020 – approving EnExClear’s implementing decision entitled “EnExClear Fees and
Charges for the clearing of transactions in the Electricity Markets for the years 2020-2022”.
According to these decisions, the charges for the registration, installation, use and operation of technological
infrastructure for connecting to the trading system of the electricity markets are stipulated per each type of
participant. For the purposes of trading in the electricity markets, the technical parameters and characteristics
of the accepted types of order, as well as the block order restrictions, are also defined. In addition, the decisions
specify the measures imposed on electricity market participants for any breach of their obligations pursuant to
the Hellenic Energy Exchange rulebooks.
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