]In August 2015, the Greek Government and the Bank of Greece, after a long period of negotiations with its creditors, entered into a new bail-out agreement with its creditors. A Memorandum of Understanding (MoU) was subsequently signed between Greece and the European Commission, acting on behalf of the European Stability Mechanism (ESM). In this document, Greece vowed to undertake ambitious objectives in terms of reforming the energy market in a way that is not solely confined to implementation of EU-law  requirements,but which also aims at “achieving European best practices”.