The "Hellenic Energy Exchange S.A." (ERA), is one of the main pillars of the European Union's target model, which seeks to create a single European energy market.
As noted in the briefing note of the Ministry of Environment, the Energy Exchange is a prerequisite for the reorganization of the wholesale electricity market, for the benefit of market participants and final consumers, as it aims to: the coupling of the Greek market with the rest of the European markets enhancing competition and transparency, with direct benefits in reducing energy costs and ensuring better prices for households and businesses ensuring the security of energy supply, diversifying energy sources in the energy mix, as well as further increasing the participation of RENEWABLES. Law 4512/2018 amends Law 4425/2016 on the reorganization of the Greek electricity market, in the application of the European Regulations and Directives for the completion of the single European electricity market, the so-called "Target Model".
In 2019, the Energy Exchange is expected to start operating with the launch of the four new electricity markets, which will replace the mandatory pool model currently in force. This is provided for in the "roadmap" for the implementation of the Target Model established by the competent bodies, which was even given the "green light" by the representatives of the institutions during the recent negotiations.
The Hellenic Energy Exchange S.A. (HEnEx S.A.) manages the Physical Delivery Energy Markets and the Energy Financial Markets following the provisions of law 4512/2018 and its delegated acts.
The Hellenic Energy Exchange S.A. (HEnEx) is part of the Energy Exchange Group (EnEx Group) and was founded on June 18, 2018, as an excerpt from the electricity market segment of LAGIE S.A. Based on the experience gained over more than a decade, HEnEx has been appointed by the Hellenic Energy Regulatory Authority as the Appointed Electricity Market Operator (NEMO) and manages the Greek future market, while working towards the creation of an intraday electricity market and an energy derivatives market. HEnEx is also responsible for the organization and operation of the Greek natural gas and environmental markets.
Its subsidiary, EnEx Clearing House S.A. (EnExClear), provides clearing and settlement services.
HEnEx is committed to providing high-quality, transparent, and non-discriminatory services to all market participants, working towards the EU target model and coupling its market with neighboring countries. To this end, HEnEx has become a full member of the Price Coupling of Regions initiative. »
Comments