Greece: As of November day-ahead, intraday and balancing markets to be launched

, SEE Energy News

As a part of the long-delayed plan to reform the wholesale electricity market, Greece will launch its day-ahead, intraday and balancing markets on 1 November. It is planned that the Greek day-ahead market will be coupled with the Italian one in December 2020, and with the Bulgarian one in March 2021.

According to the statement from the Ministry of Energy, Greece has been the only European Union country which has not implemented the target model for the creation of a single European energy market yet and, therefore, it has the highest wholesale electricity prices in the bloc. The new model will boost competition and transparency in the Greek electricity market, helping reduce energy costs for households and businesses and increase electricity exports.