Fast Facts
| Licence Types | Trading licence covers imports and exports only; Supply licence covers wholesale and retail sales and also allows trading |
| Licence Term | Granted for up to 20 years and renewable; renewal decided within 3 months |
| BRP Registration | Participants register as Balance Responsible Parties with ADMIE. |
| ADMIE Guarantees | Minimum EUR 10,000 for Traders and EUR 20,000 for Suppliers |
| Clearing Capital | EnExClear Direct Clearing Members need EUR 500,000 own funds; General Clearing Members need EUR 3,000,000 |
| Generation Scale | Total generation around 52 TWh, up on prior years |
Greece Power Market Fundamentals
Greece's power market has been restructured under the EU Third Energy Package and Clean Energy Package, with unbundling, third-party access, ADMIE as TSO and HEDNO as DSO.
The EU Target Model spot markets went live on 1 November 2020, replacing the old mandatory pool and coupling Greece with European markets. HEnEx operates the Day-Ahead, Intraday and Derivatives markets plus a RES-PPA platform, with EnExClear clearing.
Total generation reached around 52 TWh, up on prior years. RES and gas lead the generation mix, while lignite is due to phase out by 2028. Greece links to Italy, Albania, North Macedonia, Bulgaria and Türkiye.
When Is a Licence Required in Greece's Power Market?
RAAEY is Greece's independent regulator and the Ministry of Environment and Energy sets energy policy. RAAEY grants, amends and revokes electricity licences, and any change must be reported within 15 days.
An Electricity Trading Licence covers electricity imports and exports through interconnections only. Holders may trade imported/exported electricity quantities in the HEnEx markets, but cannot resell domestically (i.e. no trading without import / export).
An Electricity Supply Licence covers wholesale and retail sales and also permits trading without a separate Trading Licence. Licences are granted for up to 20 years and are renewable, with renewal decided within three months of application.
What Are Greece's Power Market Licence Requirements for EU and Non-EU Entities?
EU traders seated in an EU, EEA or Energy Community state may apply directly, with no local entity required.
Simplified recognition: a supplier or trader already licensed and active in another Member State for at least three years may obtain a Greek licence under a special procedure. The Greek licence term cannot exceed the home licence.
Non-EU traders may apply for a Trading or Supply Licence if they come from a third country with a bilateral agreement with Greece or the EU, or if they set up a branch in Greece. Foreign documents may need a certified Greek translation and Apostille. Guarantees to ADMIE apply on the same basis as for EU traders.
Balancing in the Greece Power Market
ADMIE operates the Balancing Market, which has three parts: a balancing capacity market, a balancing energy market and imbalance settlement.
ADMIE runs an Integrated Scheduling Process three times daily, co-optimising energy and reserves including FCR, mFRR and aFRR. Participants register as Balance Service Provider with ADMIE.
For Balancing Responsible Parties (BRP), a complete BRP application is registered within 15 business days. Minimum guarantees are EUR 10,000 for Traders and EUR 20,000 for Suppliers, provided by 30 September for the October to September coverage period.
Transmission Capacity in the Greece Power Market
ADMIE allocates interconnection capacity with Italy, Albania, North Macedonia, Bulgaria and Türkiye under the CACM Regulation.
Long- and short-term rights are auctioned through JAO for EU borders, including Italy and Bulgaria, and through SEE CAO for non-EU borders.
SEleNe-CC in Thessaloniki coordinates NTC and flow-based capacity for the region, including Greece-Bulgaria and Greece-Italy links. Major projects include the Crete-Attica HVDC link and planned additional interconnections.
Users connecting to the transmission system must sign a Connection Agreement with ADMIE, separate from the Transmission Use of System Agreement.
Greece Power Market Exchange(s)
HEnEx is Greece's Nominated Electricity Market Operator and runs the Day-Ahead, Intraday and Derivatives markets plus a RES-PPA platform. Trading is electronic and anonymous through the Energy Trading System.
Day-ahead trading covers physical delivery the next day. The market is coupled with Italy and Bulgaria, with price limits from -500 to +4,000 EUR/MWh. Intraday trading uses three auctions after the day-ahead market closes.
Applicants file a Participant Membership Application reviewed by HEnEx within 10 working days. A BRP contract with ADMIE and a clearing arrangement are also required. EnExClear acts as the central counterparty.
5 Market Entry Steps for Greece Power Market
- 01Obtain a Trading or Supply Licence from RAAEY. Note that Trading license only gives right to trade import/export quantities.
- 02Register as a Balance Responsible Party with ADMIE and provide the required guarantee.
- 03Apply for HEnEx Participant membership for day-ahead and intraday markets.
- 04Arrange clearing with EnExClear as a Direct or General Clearing Member.
- 05Set up REMIT reporting through ADMIE and HEnEx.
- Post-Market Entry Reporting Obligations.
CorreggioNET, Greece Power Market Access Report
Market Access Reports: CorreggioNET offers Pre-Market Entry Reports (PMER) as part of the PMER Library, providing firms with an A-to-Z guide for market entry.
CorreggioNET Alert Service: helps you never miss a reporting obligation. Note that Greece has multiple power market reporting obligations across RAAEY, ADMIE and HEnEx. The Alert Service ensures you never miss a deadline.
CorreggioNET Hotline: For your time-sensitive queries, the Regulatory Hotline Service provides direct support through an online interaction with a qualified regulatory specialist.
Consulting Solutions: For those firms which require additional assistance, Correggio Consulting is on hand to assist with all your licensing needs:
- Market entry & RAAEY licensing;
- BRP registration & ADMIE onboarding;
- HEnEx participant admission;
- EnExClear clearing setup;
- REMIT reporting;
- EFET contract negotiation;
- Yearly compliance audits.
Market Info
Stay Compliant After Market Entry
Entering a new market is only the beginning.
Once trading activity starts, the real challenge is staying compliant with ongoing regulatory updates and reporting obligations. CorreggioNET supports this post-market entry stage through its regulatory platform and monitoring services.
See platform services