Abstract
The ongoing regulatory transformation towards a single European electricity market started several years ago. The rationale of this transformation is that the liberalisation of monopolistic energy structures should lead to the building of sustainable and flexible energy ecosystems, through an energy policy that sets goals in line with the requirements of our epoch, such as sustainable development, energy security, and the promotion of renewable energy sources. In this context, the liberalisation of the electricity market in Greece is explored, which is a complicated case in terms of development as it has only recently begun to exit from a long-term socio-economic crisis and strict adjustment programs. The concepts of energy market liberalisation, energy ecosystems, and energy policy are presented and compared to the main directions of the EU institutional environment and the evolution of the political and institutional framework of Greece. In Greece, an attempt has been made in recent years to liberalise the electricity market, which is hindered for a long time by socio-economic forces favoured by the monopolistic system of the market. This liberalisation process is also an opportunity for the country to move towards enhancing the structures that can lead to faster and more sustainable development and to maintain the pace of “coupling” with the most developed energy economies of Europe.Keywords: Energy market liberalisation, Electricity market liberalisation, Energy business ecosystem, Energy policy, EU energy packages, Greek energy system JEL Classifications: Q40, Q43, Q49 DOI: https://doi.org/10.32479/ijeep.10804
Highlights
While electricity markets used to be too “monopolistic,” they have undergone a liberalising reformation over the last two decades, in many places worldwide
An electricity market liberalisation will have a positive effect on renewable energy sources, as the small-scale energy production will be increased (Alsaedi et al, 2020)
It was pointed out that the evolution of the Greek national energy policy since the beginning of the 21st century has gone through a restructuring process
Summary
While electricity markets used to be too “monopolistic,” they have undergone a liberalising reformation over the last two decades, in many places worldwide. Liberalisation was considered an essential step because it allows In this paper, The case of Greece is examined, which is a for competition in the production and distribution of electricity complicated case in developmental terms, as it has only recently. The problem for Greece compared to other, more developed European countries lies in the fact that it underperforms in terms of overall competitiveness, compared to the more advanced European states (Annoni and Dijkstra, 2019) To this end, the rapid and significant development of the energy sector is one of the priorities of the current Greek government, as it can deliver increasing returns, being in line with the existing and ever-evolving European energy policy framework (Minister for the Environment and Energy, 2020).
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