The energy system in transition
The impacts of climate change are being felt in people’s everyday lives all over the planet. The targets which have been set at a European level for 2030 point towards an energy system with significantly lower carbon dioxide emissions. The power sector makes a substantial contribution to the decarbonisation process, led by RES-based electricity generation. We are now in an era where the cost of generating electricity from RES is directly comparable to and competitive with the cost of electrical power generated by conventional plants. RES are demanding an equal role in the power system and equal terms for participating in the electricity market. The institutional framework is adapting to accommodate these prospects. Aggregators (FoSE) are new entities through which RES units can be fully integrated into the electricity markets.
Obligation of RES and HCHP plant owners to participate in the electrical energy market
According to Article 5 of Law 4414/2016, RES and High efficiency Cogeneration of Heat and Power (HCHP) plants required to participate in the electricity market include:
The above plant categories may be represented on the electrical energy market through an aggregator.
MYTILINEOS, through its Power & Gas Business Unit-Protergia, recognises that its business activity is part of Greece’s nationwide effort to address climate change. It strategically invests in power generation based on natural gas as a transitional fuel functioning to supplement power from RES.
It invests in RES aand HCHP aggregation with the aim of overcoming any obstacles that may arise from their distributed generation. It aims to fully develop all synergies resulting from its vertical integration, building relationships of trust and mutual benefit with all actors cooperating in this endeavour.
Implementing the target model
The implementation of the target model amounts to abolishing the existing day-ahead scheduling and replacing it with: a) the day-ahead market; b) the intraday market; and c) the balancing market. In the first phase of implementing the target model, RES unit owners will not be required to be Balancing Responsible Parties until the Regulatory Authority for Energy (RAE) determines that the intraday market operates with sufficient liquidity, a critical milestone after whichthere will be full Target Model implementation and the balancing responsibility will apply to everyone across the board. At this phase, the Greek spot market will have been coupled with Italy and very possibly with Bulgaria, which will provide a number of options as to the dynamic management of deviations in the 3 markets (day-ahead, intraday and balancing) and geographically within the integrated European electrical power market. Already, there is the continuous cross-zonal XBID trading platform in operation in many European countries, where, for example, a deviation in Spain can be covered immediately and bilaterally by another contractor in Germany.
MYTILINEOS, through its Power & Gas Business Unit-Protergia, has created its own aggregator to represent RES and HCHP plants at the electricity market after receiving the 1500 MW Aggregator license from the RAE.
With a portfolio of RES and HCHP plants covering all technologies - wind farms, photovoltaic parks, biomass/biogas plants, small hydroelectric plants and high-efficiency cogeneration of heat and power plants - the Protergia Aggregator of MYTILINEOS provides reliable representation services for RES and HYCHP plant owners on the electricity market.
We aim at creating a business ecosystem amongst RES and HCHP plant owners, companies specialised in prognostics and monitoring and research labs, at the heart of which will be the Protergia Aggregator of MYTILINEOS.