Greece, Stock exchange joins XBID, green power plants take on balance responsibility

, SEE Energy News

The next step for joining the Greek energy exchange to the European market was launched on Tuesday, November 29, with the country’s entry into the European cross-border market within XBID days, through coupling with Italy and Bulgaria.

The move comes after the intraday coupling of the Greek market with the markets of Italy and Slovenia in September 2021.

Continuous trading will follow the existing Additional Regional Intraday Auctions (CRIDA).

The launch of continuous intraday trading represents a turning point for the Greek renewable energy sector, as a large percentage of green power plants will take full responsibility for balancing the market.

From Tuesday, renewable energy projects with feed-in premiums will be responsible for the full amount of deviations they may cause.

The transition phase implemented after the launch of the target model, which limited financial penalties for deviations for renewable power plants, will no longer apply.