23 Jan 2002 – A bourse for the wholesale trading of electricity in Italy took a step closer to becoming a reality when the body charged with managing the market, GME, delivered its proposals for detailed rules to the industry minister for final approval.
If agreed by the ministry, the plans will only then require a government decree to permit implementation of the market – originally scheduled to start in January 2001.
“This is a step forward, the bourse could be ready to be launched in the coming months,” a source close to GME told the Reuters news agency.
A day ahead web market, where electricity producers and consumers alike can bid, will be the main feature of the wholesale market.
In addition, an on-the-day balancing market as well as a reserve and adjustment markets and a market to manage grid congestion will be created.
Market operator GME is a 100 per cent-owned subsidiary of grid operator, GRTN. The grid itself is still owned by former monopoly ENEL, which is 68 per cent state-owned.