RES sector reform – regulatory update
(Article by Mira Todorovic Symeonides – Partner and Maria Ioannou – Associate, published in the Energy & Natural Resources Newsletter of the ILO on November 18, 2019)
The renewable energy sources (RES) sector of the Greek energy market is undergoing continuous
and significant reform. Among other changes, the Hellenic Energy Exchange (HEnEx) has
commenced operations, RES producers now participate in the day-ahead market and the Greek
islands’ renewables sector has been expanded.
RES producers’ participation in day-ahead markets
In May, September and October 2019, the Regulatory Authority for Energy (RAE) launched several
public consultations regarding amendments to:
the RES Code on Operation and Certificates of Origin, proposed by the Greek Operator of RES
and Guarantees of Origin (DAPEEP) and HEnEx; and
the Electricity Transmission System Operation Code, proposed by the Greek Transmission
System Operator (ADMIE) in order to enable RES producers to participate in the day-ahead
market, which is currently operated by HEnEx.
According to Article 5 of Law 4414/2016,(1) RES and high-efficiency cogeneration of heat and
power (HE CHP) producers that have concluded power purchase agreements on operational aid with
a premium (FiP) must participate in the day-ahead market either directly or through an aggregated
representative or the aggregated representative of last resort (ie, DAPEEP).(2)
Due to the delayed implementation of this representation mechanism, the producers of the
electricity generated by and injected into the system have not been paid since June 2019, when the
previous remuneration mechanism was abandoned. According to Ministerial Decision 87325/2923
of 30 September 2019,(3) from 1 November 2019, DAPEEP will represent the RES and HE CHP
producers with which it has concluded representation agreements; RES and HE CHP producers’
participation in the day-ahead electricity market began on the same date.
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