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

The policy framework of an integrated electricity market in Europe is accumulated on the Target Model benchmark model. In this study, a comprehensive overview of the Target Model and the relative policy is provided, aiming to set the basis for the description of the current structure and legislation of the Greek electricity market and its submarkets, i.e. the forward market, the day-ahead market, the intraday market, and the balancing market. The Greek electricity market is evaluated via an intricate case study that proves its overall satisfactory performance. Nevertheless, several challenges are identified and measures for their confrontation are proposed