The harmonization of the regulatory framework for the organization and operation of electricity markets in European countries according to the EU Target Model, and as derives by the relevant European legislation (3rd Legislative Package, Clean Energy Package), leads to the formation of the European Internal Electricity Market The formation of the aims to increase competition and market liquidity, resulting in lower prices at European level, thus reducing overall energy costs for final consumers. Infrastructure projects and interconnections also play an important role in this direction, aiming at the unrestricted flow of electricity from low-cost areas to higher-priced areas, thus attributing to the reduction of energy costs through price convergence.
For the transition of the Greek electricity market system to the single European market, in accordance with the provisions of EU legislation for the integration of the Internal Electricity Market and the achievement of the Target Model, Law 4425/2016 was issued, and later amended by Law 4512/2018, according to which four separate wholesale Electricity Markets were established, namely the Electricity Forward Market, the Day-Ahead Market, the Intraday Market and the Balancing Market.