Implementation of the target model: Regulatory reforms and obstacles for the regional market coupling

Metaxas, Antonis; Mathioulakis, Michalis; Lykidi, Maria

doi:10.4337/eecj.2019.03-04.02

Cited by 3 publications

(9 citation statements)

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“…Specifically, Directive 2009/72/EC [36] contained common rules for the internal market in electricity, Regulation (EC) 714/2009 [37] contained conditions for access to the network for cross-border exchanges in electricity, and Regulation (EC) 713/2009 [38] provided the establishment of the Agency for the Cooperation of Energy Regulators (ACER). The package entered into force in September 2009 [9]. The Electricity Directive 2009/72/EC remained in force until the end of 2020, when the new electricity market rules were applied.…”

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

“…In Greece, all these attempts towards an integrated energy market are concentrated on the application of the Target Model [50,51]. The latter describes the operation of the electricity market, since 1 November 2020, and is based on Laws 4425/2016 and 4512/2018 of the Greek Ministry [9]. The reformation of the electricity market in Greece started several years ago and has been realized via various legislative steps; see Figure 1 [52].…”

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

“…Laws 4336/2015, 4389/2016, and 4393/2016 provided the framework for undertaking NOME (Nouvelle Organization du Marché de l'Electricité) auctions to enhance market competition [53,54]. The most recent regulatory reform, related to the implementation of the electricity Target Model in Greece, is Law 1090/2018, published in the Official Government Gazette of the Hellenic Republic on 31/12/2018 [9,57]. In that framework, the current market model in Greece is set to apply all four markets deriving from the relevant legislation, namely the FM, DAM, IDM, and BM [9,53,54].…”

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

“…The most recent regulatory reform, related to the implementation of the electricity Target Model in Greece, is Law 1090/2018, published in the Official Government Gazette of the Hellenic Republic on 31/12/2018 [9,57]. In that framework, the current market model in Greece is set to apply all four markets deriving from the relevant legislation, namely the FM, DAM, IDM, and BM [9,53,54]. The operation and monitoring of the electricity market in Greece until 2018 (DAM and IDM) was operated by the Hellenic Electricity Market Operator (LAGIE).…”

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

“…Based on their time-scale, operation markets range from real-time to long term. Within the Target Model, the operation of a sequence of markets, from long term to real-time, is defined, which enable the proper function of the wholesale electricity market, namely the forward market (FM), the day-ahead market (DAM), the intra-day market (IDM), and the balancing market (BM) [9].…”

Section: Introductionmentioning

confidence: 99%

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The Electricity Market in Greece: Current Status, Identified Challenges, and Arranged Reforms

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The approach of an integrated electricity market is widespread across Europe, since such a market structure has numerous benefits for both the grid and consumers. The current structure and the related policy framework of the electricity markets adopted within the European countries is based on a benchmark model, the so-called Target Model, which describes a reference energy market framework. In this paper, a comprehensive overview of the legislative effort and the resulting Target Model is provided, aiming to set the basis for the description of the adopted electricity markets in Europe. In a second stage, the current status of the Greek electricity market that operates under the Target model scheme is given via the analysis of the involved submarkets, i.e., the forward market, the day-ahead market, the intraday market, and the balancing market. An intricate case study of the Target Model operation in the Greek electricity market within a day of operation is examined, which actually completes the former description. Within the case study, the Greek electricity market is further investigated for its efficiency and the impact on the obtained electricity prices from the first day of the Target Model implementation, which took place in November 2020, and, finally, today is analysed. The results show an overall successful implementation and satisfactory performance of the Target Model in Greece, with an important main result being the reduction of prices in the balancing market and the increase of the intraday market liquidity. However, several challenges are identified and described in detail, while at the same time measures for their confrontation are proposed in order to improve market operation and fully exploit the benefits of the Target Model.

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Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

Section: The Electricity Market Policy Frameworkmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The Electricity Market in Greece: Current Status, Identified Challenges, and Arranged Reforms

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Forecasting Transmission and Distribution System Flexibility Needs for Severe Weather Condition Resilience and Outage Management

et al. 2022

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With the increase in the complexity of the topology of transmission and distribution systems, associated with the predictability in the management of the dispatch of prosumers, new techniques for state estimation, and application of metaheuristics are necessary. In the current work a pilot project in Greece that addresses the difficulties of congestion and balancing management that system operators face in the renewable energy sources era, in accordance with the OneNet’s architecture is described. Available resources of grid’s flexibility are identified, and the implementation of an integrated monitoring system based on weather conditions with an energy control and dispatch system in the Greek electricity grid is addressed. The document suggests that flexibility resources will derive through predictions that have been improved and efficient forecasts from increased spatial resolution Numerical Weather Predictions and integration of Artificial Intelligence preventing the power system of entering dangerous topological or operational states.

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Implementation of the target model: Regulatory reforms and obstacles for the regional market coupling

Cited by 3 publications

References 0 publications

The Electricity Market in Greece: Current Status, Identified Challenges, and Arranged Reforms

The Electricity Market in Greece: Current Status, Identified Challenges, and Arranged Reforms

Designing new energy markets to promote renewables

Forecasting Transmission and Distribution System Flexibility Needs for Severe Weather Condition Resilience and Outage Management

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