The Environment and Energy Ministry’s bill was opened for public consultation today, 10 October through 24 October . It is entitled “Improving the design of the electricity market – transposing Directive (EU) 2024/1711 of the European Parliament and of the Council of 13 June 2024 amending Directives (EU) 2018/2001 and (EU) 2019/944, and other provisions”.
According to a ministry announcement, the bill transposes European Directive 2024/1711 into national law and includes a series of measures to make the electricity market more transparent, more stable and fairer to consumers.
The aim is to ensure that the benefits of expanding renewable energy, strengthening the grids and modernising the market have a more meaningful impact on people’s daily lives and business operations.
Households will have more choice and greater predictability over their bills, with fixed-price contracts and stronger protection in their dealings with suppliers. We are also delivering on our commitment to reduce energy costs through the Public Service Obligations charge.
At the same time, a framework is being established to help suppliers manage the risk of fluctuations in the wholesale market more effectively, while oversight is being strengthened to limit consumers’ exposure to market volatility.
Citizens, small and medium-sized businesses and public bodies will have greater scope to take an active part in the energy transition by producing and sharing clean energy. Grid connections are becoming more transparent and digital, and we are introducing flexible connections in areas with limited grid capacity, allowing new investments to proceed alongside the necessary grid reinforcement projects.
For the Greek islands, a national mechanism is being activated to manage and make use of the resources of the Islands Decarbonisation Fund, to deliver an investment programme worth €2.3 billion. The aim is to gradually reduce the islands’ dependence on expensive and polluting oil-fired power generation, strengthen their energy security and autonomy, and build infrastructure for cleaner, more affordable energy for residents and businesses.
Clear rules and a comprehensive framework are being established for new investments and energy infrastructure, to ensure they are developed in an orderly, safe and transparent manner.
For data centres, investors will be required to cover the cost of connecting to the grid and of any necessary works to reinforce the electricity system, reserve grid capacity when they have genuine financial and investment readiness, and meet at least 60% of their annual consumption from renewable energy sources.
The framework governing the operation, maintenance and oversight of private networks for renewable energy projects is also being strengthened, with specific rules to ensure infrastructure safety and environmental protection.
The bill also includes targeted measures for professional farmers, local authorities and household self-consumers, while making it easier to bring clean energy projects to maturity and implement them.
At the same time, it offers solutions to outstanding social, spatial-planning, urban-planning and environmental issues that are ripe for resolution, with tangible benefits for citizens, local communities, social infrastructure and protected ecosystems.
*See the announcement in the right-hand column, under Supporting Material