GME was set up by Gestore dei Servizi Energetici (GSE S.p.A.), a company wholly owned by the Ministry of Economy and Finance. GME carries out its activities in accordance with the guidelines given by the Ministry of Environment and Energy Security (MASE) and the regulatory provisions issued by Autorità di Regolazione per Energia Rete e Ambiente (ARERA, the electricity, gas and water regulator).

GME operates power, gas and environmental markets. As part of the process of liberalisation of the electricity sector, Gestore dei Mercati Energetici S.p.A. (GME) was initially vested with the organisation and economic management of the wholesale Power Market under principles of neutrality, transparency, objectivity and competition.

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 market for the trading of daily products (MPEG) with continuous trading mode, a day ahead auction market (MGP), an intraday auction market (MI), consisting of three auction sessions (MI-A) and one continuous trading session (MI-XBID).

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 with the Multi Regional Coupling (MRC), EU coordination project between PXs and TSOs. GME is also party of the XBID project for the delivery of an intraday continuous trading implicit auction compliant with CACM.

GME, pursuant to Legislative Decree 8 November 2021, no. 199, organises and manages the PPA Bulletin Board with the aim of promoting the meeting between the parties potentially interested in the stipulation of long-term contracts for the sale of electricity from renewable sources, to allow the fulfilment of the obligation to register the same contracts concluded between participants and carry out the allocation procedures related to electricity as shown in the decree of the Minister of Ecological Transition n. 341 of 16.09.2022.

GME also organizes and manages the Local Flexibility Market (MLF, Mercato locale della flessibilità) where the distribution system operators (DSO) can procure local ancillary services made available by the Balance Service Providers through their distributed resources, in implementation of the pilot projects established pursuant to the Decision of the Regulatory Authority for Energy, Networks and the Environment (ARERA) of 3 August 2021 n. 352/2021/R/EEL.

With the enforcement of Law no. 99 of 23 July 2009 on development and internationalisation of companies and energy matters, 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 include the Gas Trading Platform (P-GAS) and the Wholesale Gas Market (MGAS).

GME, in implementing the provisions of ARERA with Resolution 660/2017/R/GAS, annex A, on "Integrated text of the provisions on guarantees of free access to the regasification service of liquefied natural gas (TIRG)", 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 Market for certificates of release to consumption of biofuels (MCIC).

Furthermore, in implementing Legislative Decree no. 249 of December 31, 2012, GME organizes and manages a Market Platform for Mineral Oil Logistics Services (P-LOGISTICS), as well as the data collection on the storage capacity and transit of mineral oils. In order to foster the competition in the sector, the same legislative decree also foresees that GME establishes, organizes and manages a platform for the wholesale exchange of liquefied petroleum products for transport purposes.

GME plays a specific role in market monitoring towards the Italian NRA, originally stemming from the Italian NRA regulation 115/2008, setting up specific provision for the monitoring of power market in Italy, and then reinforced by the provision included in Regulation (EU) No 1227/2011 on wholesale energy market integrity and transparency (REMIT).