Gestore dei Mercati Energetici
|Headquarters:||Viale Maresciallo Pilsudski, 122-124, 00197 Rome, Italy|
|Date of foundation:||27 June 2000|
|CEO and Chairman:|
Pietro Maria Putti
|Traded commodities and traded volumes in 2019:||Power Markets: 324,5 TWh|
Gas Markets: 82,6 TWh
Environmental Markets: 62,0 TWh (GO), 5,8 million toe (White Certificates)
|Current number of employees (June 2020):||111|
|Annual report(s):||Annual report 2019|
Gestore dei Mercati Energetici S.p.A (GME) was set up by Gestore dei Servizi Energetici S.p.A. (GSE), a company wholly owned by the Italian Ministry of Economy and Finance. GME carries out its activities in accordance with the guidelines given by the Italian Ministry of Economic Development and the regulatory provisions issued by the Italian Regulatory Authority for Energy, Networks and Environment (ARERA).
GME operates power, gas, fuel and environmental markets. As part of the liberalisation process of the electricity sector, GME was initially vested with the organisation and economic management of the wholesale power parket under principles of neutrality, transparency, objectivity and competition.
GME plays a specific role in market monitoring towards the Italian NRA, in accordance with the Italian NRA regulations 115/2008 and 631/2018/R/Gas, setting up specific provision for the monitoring of the power and gas market in Italy and with Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (REMIT).
On the power market platform managed by GME (also known as Italian Power Exchange, IPEX), producers and purchasers sell and buy wholesale electricity. With reference to power, GME operates a forward physical market (MTE), a day ahead hourly auction market (MGP), a daily products market (MPEG) – the venue for trading daily products with delivery obligation – an intra day auction market (MI) based on 7 sessions. It also operates on behalf of the Italian TSO Terna a platform for ancillary services (MSD), through which collects the bids and communicates the results, and a platform for the registration of OTC transactions (PCE). On this platform, parties that have concluded contracts outside IPEX, record their commercial obligations and nominate the related electricity injection and withdrawal schedules that they undertake to execute under the same contracts.
Following the approval of the EU Regulation 1222/2015 (CACM), GME has been nominated NEMO for the day ahead and intraday markets in Italy. GME is also a founding member of PCR, the Price Coupling of Regions project launched by the major European PXs to provide a technical solution for the coupling of day ahead EU markets subsequently integrated within the Single Day-ahead Coupling activities set by CACM. GME is also a founding member of the XBID project for the delivery of an intraday continuous trading solution for the coupling of intraday EU markets which is now integrated within the Single Intra-Day Coupling activities set by CACM.
GME was also entrusted with the organisation and economic management, on an exclusive basis, of natural-gas markets and associated services. GME’s gas markets are the Gas Spot Market (MP-GAS), including Day Ahead Market (MGP-GAS), Intraday Market (MI-GAS), Locational Products Market (MPL), the Regulated Market for the trading of gas stored (MGS), and the Forward Gas Market (MT-GAS). Moreover, GME organizes and manages the Platform for the Allocation of Regasification Capacity (PAR).
GME is also directly involved in the implementation of environmental policies, by organising and managing environmental markets, such as, the Energy Efficiency Certificates Market, the Guarantee-of-Origin (GO) Market and the Certificates of Release to Consumption of Biofuels (CIC) Market .
GME manage the market platform for the trading of mineral-oil logistic services, as well as collecting mineral-oil storage capacity data. Further, GME should set up, organise and operate a platform for wholesale trading of liquid oil products for the transport sector.