Public Consultation on Derivatives Market Rulebook
HEnEx launches a public consultation on the draft Financial Energy Market Rulebook (Derivatives Market).
According to the provisions of article 15 par. 1 and 2 of Law 4425/2016, the Hellenic Energy Exchange S.A. may act as a market operator and operate Energy Derivatives Markets, following the approval of the Hellenic Capital Market Committee (HCMC), given that the provisions of Law 4514/2018, EU Regulation No 600/2014 and the delegated Regulation, are met.
HEnEx has authored a draft Financial Energy Market Rulebook (Derivatives Market), for which it launches a Public Consultation in order to achieve maximum consensus with the prospective Members of the Energy Derivatives Market, regarding the provisions of the Rulebook.
In the context of the Public Consultation described above, HEnEx will gather and elaborate on the comments which will be submitted, so as to finalize the provisions of the Rulebook before its submission to the competent authorities.
All stakeholders are requested to submit their opinions/views on the text of the Rulebook, by sending an e-mail to the address firstname.lastname@example.org with the following subject: "Public Consultation on the draft Financial Energy Market Rulebook (Derivatives Market)”.
End of the Public Consultation: 10/09/2019 (extension until 16/09/2019)
Public Consultation of New Market Codes
The Hellenic Electricity Market Operator launches a Public Consultation on New Market Codes (Forward, Day-Ahead & Intraday).
Within the year 2004, RAE, LAGIE and ADMIE have assigned to ECCO International the study of the High Level Market Design of the Electricity Market in Greece, in order to fulfil the requirement of the European Target Model and to be able to couple with other European Electricity Markets according to the European Regulations and Directives. After the completion of this study, RAE launched the public consultation of this study in November 2014. During the public consultation, an open day presentation was held for the detailed presentation of the new model. The comments from the participants were evaluated by the consultant and sent to RAE.
In August 2016, the Law 4425/2016 came into force, which defines four (4) new Electricity Markets in order to replace the existing Day-Ahead Scheduling (DAS). LAGIE was set as Operator for the three of them (Forward, Day-Ahead and Intra-Day Market), while ADMIE was set as Operator for the fourth market (Balancing Market).
According to the provisions of Law 4425/2016 and the Guidelines published by RAE in 2017 (RAE Decision 67/2017) and with the support of the European Institution JRC (Joint Research Center), ECCO International was commissioned to develop the Detailed Level Market Design of the four (4) new electricity markets and the respective Codes of these new markets.
Upon completion of this project, LAGIE launches in public consultation the following texts, concerning the electricity markets within its responsibility:
A. Forward Market Code (in Greek and English),
B. The complementary text with the detailed level market design of the Forward Market (in English),
C. Day-Ahead Market Code (in Greek and English),
Note: The implementation of the Minimum Variable Cost as a rule for accepting the offers for selling energy by the conventional generating units will be examined in conjunction with the coupling of the Greek electricity market with the neighboring electricity markets.
D. The complementary text with the detailed level market design of the Day-Ahead Market (in English),
E. Intra-Day Market (in Greek and English),
F. The complementary text with the detailed level market design of the Day-Ahead Market (in English),
G. The Annex of the Codes with the Regulation and Participation Rules of the Forward Market, Day-Ahead Market and Intra-Day Market (in Greek and English),
H. The text of the Definitions (in Greek and English).
The above texts have been prepared under the current legal framework. Phase B of Public Consultation will be followed after the adaptation of these texts according to the upcoming legislative interventions in the context of implementing the draft law (Energy Exchange), whose public consultation have been completed
All stakeholders are encouraged to submit their opinions/views on the texts, by sending an e-mail to the address email@example.com using the phrase: "New Codes Consultation" as the subject line.
End of this public consultation: 22/01/2018