Regulatory Framework

According to Law 4001/2011 (Gazette A’ 179/2011) the Energy Regulatory Authority monitors the entire spectrum of the country’s natural gas market which, among other, includes security of supply, licensing, infrastructure development and the monitoring of network development plans, tariffs for non-competitive activities, the exemption from obligations to provide access to third parties and the obligation for Ownership Unbundling, the operation of Closed Distribution Networks, the Unbundling of the Operators and the Supervision of Independent Transmission Operators, the Certification of Operators of Transmission Systems and Natural Gas Distribution Networks, and consumer protection.

RAE monitors the security of energy supply, in particular the balance of supply and demand in the Greek energy market, the level of projected future demand, the projected additional capacity for production, the transmission and distribution of Natural Gas that is under planning or under construction, the quality and the level of maintenance and reliability of the transmission systems and distribution networks, and the implementation of measures to cover peak demand, as well as the conditions of the energy market in relation to the possibility of developing new production capacity.

RAE monitors the implementation of safeguard measures taken in the event of a sudden crisis in the energy market or when the physical integrity or safety of persons, machines or facilities or the integrity of the Energy Systems are threatened. RAE is designated as the Competent Authority for ensuring the implementation of the measures defined in the Security of Natural Gas Supply Regulation 994/2010 of the European Parliament and the Council of October 20, 2010 (L 295). The provisions of articles 6 and 7 of Regulation 994/2010/EC are exercised by RAE in its capacity as Competent Authority.

At the same time, RAE, after a public consultation with existing and potential users, decides on amendments to the Network Development Plans developed by the competent Transmission Operators. RAE publishes the results of the public consultation and examines whether the Development Plan covers all the needs identified during the aforementioned consultation process, especially the investment needs, as well as whether the Development Plan is in accordance with the corresponding inter-community, non-binding, Ten-Year Network Development Plan of Natural Gas transmission systems developed in accordance with the relevant Regulations (EC) and may then request the competent Transmission Operator to modify its Development Plan accordingly.

RAE also decides on the exemption of part or all of the capacity of the Natural Gas System and Interconnections with Electricity Transmission Systems of other countries from the obligation to provide access to third parties or the obligation of Ownership Unbundling, in accordance with the procedure and the conditions provided for in article 76 for Natural Gas and article 115 for electricity and for this purpose, RAE cooperates with the regulatory authorities of other member states, any third party involved, the Agency for the Cooperation of European Energy Regulators, the bodies of the Energy Community and the European Commission.