Compliance in the energy sector : responsibilities relating to energy and financial transactions and ESG criteria

Psarras, Aristeidis; Ψαρράς, Αριστείδης

dc.contributor.advisor	Dagoumas, Athanasios
dc.contributor.advisor	Δαγούμας, Αθανάσιος
dc.contributor.author	Psarras, Aristeidis
dc.contributor.author	Ψαρράς, Αριστείδης
dc.date.accessioned	2025-07-28T07:11:42Z
dc.date.available	2025-07-28T07:11:42Z
dc.date.issued	2025-07
dc.identifier.uri	https://dione.lib.unipi.gr/xmlui/handle/unipi/18029
dc.format.extent	90	el
dc.language.iso	en	el
dc.publisher	Πανεπιστήμιο Πειραιώς	el
dc.rights	Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/gr/	*
dc.title	Compliance in the energy sector : responsibilities relating to energy and financial transactions and ESG criteria	el
dc.type	Master Thesis	el
dc.contributor.department	Σχολή Οικονομικών, Επιχειρηματικών και Διεθνών Σπουδών. Τμήμα Διεθνών και Ευρωπαϊκών Σπουδών	el
dc.description.abstractEN	A practitioner of law approaching Europe’s energy sector today encounters something remarkable. Electricity trades in milliseconds and even carbon allowances flow with the liquidity of blue-chip equities. Quietly, yet profoundly, the energy market has assimilated the logic of the capital markets. Many analysts argue that systemic stability rests on two mutually reinforcing pillars, the financial system (banking, capital markets) and the energy system, and stress in either can cascade into the other with destabilising speed. The feedback loop that turns a liquidity squeeze into a blackout, or a fuel-price spike into a sell-off in utilities equities, is the essence of systemic risk. The convergence of these two worlds, energy and financial markets, has reshaped the compliance landscape. Energy transactions still involve the purchase or sale of a (in)tangible commodity. Financial transactions involve financial instruments whose value is detached from immediate physical delivery. Their interaction produces a hybrid marketplace in which every click on a trading screen can trigger two distinct, but increasingly overlapping, regulatory logics. Concurrently, the global turn toward sustainability, embodied in Environmental, Social and Governance (ESG) standards, obliges market participants to demonstrate transparent, credible adherence to decarbonisation goals, ethical conduct and social accountability across both their physical and financial operations. The aim of this thesis is to show how market participants can uphold both the letter and the spirit of these intertwined legal regimes, particularly REMIT, MiFID II, EMIR, and ESG-related frameworks. The thesis will first analyse the fundamentals of wholesale electricity trading, then proceed with a rule-by-rule examination of the core regulatory instruments, and finally explore the ESG criteria and their corresponding requirements.	el
dc.contributor.master	Energy: Strategy, Law & Economics	el
dc.subject.keyword	Compliance	el
dc.subject.keyword	Energy transactions	el
dc.subject.keyword	Financial transactions	el
dc.subject.keyword	Forward market	el
dc.subject.keyword	Day-ahead market	el
dc.subject.keyword	Intra-day market	el
dc.subject.keyword	OTC	el
dc.subject.keyword	REMIT	el
dc.subject.keyword	MAR	el
dc.subject.keyword	MiFID II	el
dc.subject.keyword	EMIR	el
dc.subject.keyword	CSRD	el
dc.subject.keyword	CSDDD	el
dc.subject.keyword	EU allowances	el
dc.subject.keyword	Energy sector	el
dc.subject.keyword	Target model	el
dc.date.defense	2025-07-21

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Τμήμα Διεθνών και Ευρωπαϊκών Σπουδών
Department Of International And European Studies

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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα

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Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ελλάδα