The market coupling operations of the Greek bidding zone in SDAC (Multi Regional Coupling) were successfully launched on 15 December with the 16 December being the first delivery day.The Greek day-ahead market is now integrated via the Greek-Italian border in the Pan-European day-ahead power market.
HEnEx, the designated single NEMO in Greece is now included in the market coupling operational processes as a new operational NEMO, along with ADMIE, the Greek transmission system operator. The successful coupling is the result of the close collaboration between the Greek parties with the Italian NEMO GME and the Italian TSO TERNA. It represents a further step towards the achievement of the single day-ahead European electricity market, which is expected to reach its completion during 2021 with the integration of the MRC and 4MMC coupling projects.
Now for the first time, day-ahead capacity for the 500MW HVDC interconnection between Greece and Italy has been implicitly allocated via the Euphemia algorithm. The implemented price coupling allows for the simultaneous calculation of electricity prices and cross-border flows across the region. The efficient use of the power system and cross-border infrastructures, brought about by stronger coordination between energy markets, maximizes social welfare to the benefit of all market participants. The next step is the implementation of the Greek-Bulgarian Market Coupling project that is scheduled to go-live in Q1 2021.
SDAC allocates scarce cross-border transmission capacity in the most efficient way by coupling wholesale electricity markets from different regions through a common algorithm, simultaneously taking into account cross-border transmission constraints, thereby maximizing social welfare. The aim of SDAC is to create a single pan European cross zonal day-ahead electricity market. An integrated day-ahead market increases the overall efficiency of trading by promoting effective competition, increasing liquidity and enabling a more efficient utilization of generation resources across Europe.
