New competences and duties were assigned to RAE with respect to electricity and natural gas sectors by the Electricity Law 3426/2005 and the Gas Law 3428/2005, in alignment with the relevant provisions of the EC Directives 2003/54 and 2003/55, in particular with respect to access tariffs to electricity and gas networks, the terms and conditions for the provision of balancing services in natural gas, as well as on issues related to security of electricity and natural gas supply. Furthermore, on the basis of the modifications introduced with the abovementioned laws, RAE acts as a dispute settlement authority with respect to complaints against transmission or distribution system operator in both electricity and natural gas sectors.
The main duties and responsibilities assigned to RAE relate to the following subjects:

• Monitoring the operation of all sectors of the energy market (Electricity, Natural Gas, Oil Products, Renewable Energy Sources, Cogeneration of Electricity and Heat etc.).
• Collection and processing of information from companies in the energy sector while respecting the principles of confidentiality.
• Participation in the pre-parliamentary legislative process through recommendation to the Minister of Development of the appropriate measures related to compliance with competition rules and to the overall protection of the consumers in the energy market. RAE monitors in particular the management and allocation of interconnection capacity, the time taken by TSO and DSO for connections of users and repairs to the network, the publication of all appropriate information by the TSO and the DSO, the terms and tariffs for third party access, the unbundling of accounts, the level of transparency and competition in the energy market and the security of supply.
• RAE issues a report every two years on security of supply both for electricity and natural gas, which is published and submitted both to the Minister of Development and the Commission, pursuant to the provisions of laws 3426/2005 and 3428/2005.
• Advice under the form of a simple opinion, with respect to the enactment of the secondary legislation, with the exception of the Electricity Grid Operation Code, the Power Exchanges Code, the Distribution Network Operation Code, where RAE enjoys the right of a consenting opinion. Furthermore, with respect to natural gas, RAE gives a consenting opinion for the issue of the Operation Codes of the National Natural Gas System as well as of the Independent Natural Gas System, while it approves the appropriate methodologies and details for the implementation of both Operation Codes.
• Advice under the form of a simple opinion, with respect to the terms and conditions for access to the transmission and distribution networks. Approval of the methodologies for the access tariffs to electricity transmission and distribution networks. The tariffs for third party access to electricity networks are approved by the Minister of Development following a consenting opinion of RAE, whilst RAE gives a simple opinion with respect to tariffs for third party access to natural gas systems. Regarding natural gas, RAE drafts the tariffs Regulation which is subject to approval by the Minister of Development, and regulates the terms and conditions for the provision of balancing services.
• Participation, under the form of a simple opinion, in the process for the granting and revocation of licences for the discharge of electricity activities.
• Monitoring of the exercise of the activities undertaken by licensees and access to information.
• Advice, under the form of a simple opinion, in the procedure for the approval of electricity retail tariffs with the exception of access tariffs.
• Approval of the generation adequacy studies conducted by HTSO to establish whether HTSO should issue tenders for new generation capacity.
• Imposition of financial sanctions, particularly fines to the violators of the primary and secondary energy legislation.
• Arbitral resolution of disputes between parties on electricity and natural gas legislation.
• Dispute settlement authority with respect to complaints against electricity transmission or distribution system operators and the owner of the electricity network, as well as against Natural Gas System and Distribution Operators on infringements of primary and secondary electricity and natural gas legislation.
• Cooperation with Regulatory Authorities of other countries, international Organisations and the European Commission.
• Reporting on an annual basis to the Commission on market dominance, predatory and anticompetitive behaviour on the basis of the appropriate information submitted by the Competition Authority.

Finally, under Law 3054/2002 specific responsibilities were assigned to RAE regarding with the organisation and operation of the oil products market.
RAE is obliged to comply with the legality principle. The decisions of RAE that are not solely advisory are subject to judicial review by the Athens Administrative Court of Appeals. Finally RAE publishes and submits to the Parliament via the Minister of Development an annual report giving detailed information about its functioning and acts.