Greece prepares project for energy exchange market

Greece energy exchange marketGreece is preparing a project for energy exchange market to be operational by mid-2018, announced the Energy Minister Giorgos Stathakis. He also clarified that the exchange will build on the existing energy market currently in the country. There will be several separate segments – for futures, intraday trading and arbitration. It will replace the current wholesale market for energy, as the current contracts will be included in the exchange.

The energy exchange market will improve competition and transparency in the energy sector in Greece. It will reduce costs and lead to lower prices for households and businesses, added Energy Minister.

Through the exchange will further improve security of supply and will increase the share of renewables in the energy mix of the country.

The reform of the energy sector is part of the claims of creditors of Greece. According Giorgos Stathakis, however, is not currently on the agenda sale of assets of state-owned energy company PPC. Athens, however, should reduce the market share of the company and the energy market is a step in that direction.

Energy Exchange market will be built with technical assistance from the European Commission. Greek agencies that will tackle are LAGIE and Hellenic Exchange.