Hellenic Electricity Market Operator
Headquarters: 72, Kastoros Str., 18545 Piraeus, Greece
Location(s): Piraeus, Greece
Date of foundation: 2000
President & CEO: Michael Philippou
Traded commodities and traded volumes in 2015: Traded volume: 52, 3 TWh

Net Load: 50,5 TWh

Early Average Price: 51.9 EUR/MWh

Registered Capacity: 18 GW

Annual Wholesale Market: 2.6 Billion EUR

Market Participants: 48

Current number of employees (April 2016): 42
Monthly report(s): LAGIE 2016 Monthly Reports


Company General Information

The company was founded in 2000 in the context of the liberalisation of the electricity market in Greece under the name Hellenic Transmission System Operator S.A. (HTSO), with the aim to undertake the operation, maintenance and development of the electricity transmission system and subsequently the operation of the wholesale energy market.

HTSO, following a corporate spin-off, transferred its Transmission Branch to a new company, ADMIE (the Transmission System Operator), and maintained the Market Branch. As of 1th February 2012, HTSO was renamed to Operator of Electricity Market S.A. (LAGIE) and its business scope encompasses the following:

  • Operation of the Spot Electricity Market (Day Ahead Scheduling-DAS)
  • Clearing and Settlement of DAS transactions
  • Spot Electricity Market monitor and analysis
  • Contracting and administration of Renewable Energy Sources (RES)
  • Guarantees of Origin & Energy Efficiency Evaluation
  • National Auctioneer in the allowance auctions conducted through the common European platform
  • Administration of the National scheme for the compensation of indirect EU ETS costs (Carbon Leakage)
  • Reporting to ACER as Organised Market Place and RRM of the Market Participants’ transactions in the Spot Electricity Market.

On the 11th December 2015, following the decision of the Minister of Environment and Energy, LAGIE SA was designated as “Nominated Electricity Market Operator” (NEMO) to perform the single day-ahead and intra-day coupling in accordance with article 4 of Regulation (EC) No 2015/1222.

Member of the Europex General Assembly

Michael Philippou, President & CEO of LAGIE

Europex contact person

Aristides Tassoulis, Executive Director of Regulatory & European Affairs

  • +30 211 880 6741
  • +30 211 880 6880


General contact details


    72, Kastoros Str.

    18545 Piraeus


  • +30 211 880 6969 (6732)
  • +30 211 8806 766