Authors: Filippos Ioannidis, Kyriaki Kosmidou, Kostas Andriosopoulos

Title: MARKET DESIGN OF AN ENERGY EXCHANGE: THE CASE OF GREECE

Abstract

Driven by the liberalization of the energy market launched in the 1990s, the European Union (EU) seeks to unify the internal market and achieve price convergence among all European economies. Nowadays, most of the EU countries have instituted power exchanges through which cross-border transactions are conducted in a transparent and reliable manner. Yet, various national electricity market designs represent one of the major obstacles to the creation of integral electricity market. Therefore, this paper gives a comprehensive overview of all the prior literature related to power exchange market design and structure. Additionally, the paper identifies recent developments regarding the case of Greece, by explicitly decomposing the Hellenic Energy Exchange structure and the markets that are going to be formed during the upcoming period.