Law 4001/2011 on the Operation of Electricity and Gas Energy Markets, for Exploration, Production and Transmission Networks of Hydrocarbons and other provisions

The Law 4001/2011 transposes into national legislation EU Directives concerning common rules for the internal market in electricity and common rules for the internal market in gas that oblige EU member states to further liberalise their electricity and natural gas markets. For this purpose, and going further, this piece of legislation gives legal ground to the reforms in the Greek energy sector, mostly consisting of partial privatization of state?controlled energy companies. Amongst its main provisions, the law stipulates the unbundling of the system operators and enhances the role of the independent regulator regarding energy security, licensing, monitoring of the market and consumer protection.
In addition, this law amends the law 2289/1995 on \Prospecting, exploration and exploitation of hydrocarbons and other provisions'.