C. Chatzikonstantinou, Power exchanges and the Greek wholesale electricity market, 2019
The focus of the working paper is to provide, from the scope of energy law, a review of the basic functioning of power exchanges, both as marketplaces and as institutions in the context of the European Integral Energy market.
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Table of contents +
VIIList of abbreviations
1Introduction
PART ONE
Power exchanges in Europe and their fundamental
role as electricity wholesale marketplaces
7A. The liberalisation of the electricity sector in Europe and the emergence of power exchanges
71. Energy as a commodity
92. The liberalisation process
9a) Energy policy in the EU
11b) The EU regulatory framework for the electricity market
143. The emergence of power exchanges
17B. Power exchanges as marketplaces for electricity trading
171. The wholesale electricity market
17a) Essential elements in the wholesale electricity market
19b) Forms of electricity trading at a wholesale level
222. Power exchanges: Electricity trading platforms
22a) Power pools: The precursors of power exchanges
23b) Definition and functions of power exchanges
25c) The price formation mechanism
27d) The correlation between power exchanges and Transmission System Operators
28e) The benefits from trading in a power exchange
PART ΤWO
The institutional role of power exchanges towards
an integrated wholesale electricity market
and the Greek perspective
33A. Power exchanges in the context of the European integrated energy market - An institutional approach through market coupling
331. Energy market integration within the EU
352. The wholesale electricity market integration through market coupling
383. The regulatory regime under Regulation (EU) 2015/1222
38a) Basic regulations on market coupling
40b) The role of power exchanges in the market coupling regulatory regime and the impact of Regulation (EU) 2015/1222 on their activities
43B. The Greek wholesale electricity market and its recent developments
431. The basic regulatory framework
452. Wholesale market structure and electricity trading before the enactment of Law 4425/2016
463. Law 4425/2016: the newborn wholesale electricity market
504. Law 4512/2018: the establishment of the Greek power exchange
55Concluding remarks
57References
63Appendix
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