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Regulatory Approaches

Regulatory Approaches. Powers of national regulators defined by EU and national legislation At EU level “shall cooperate with each other and with the Commission” Commission Decision of 11 November 2003 establishing the ERGEG ERGEG “Guidelines” including:

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Regulatory Approaches

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  1. Regulatory Approaches • Powers of national regulators defined by EU and national legislation • At EU level “shall cooperate with each other and with the Commission” • Commission Decision of 11 November 2003 establishing the ERGEG • ERGEG “Guidelines” including: • e.g. “Congestion Management Guidelines for Electricity” • Measures of a more incentive nature e.g. Regional Initiatives • Ex post remedies of competition law

  2. The Wider Context • European Energy Regulators strongly welcome: • Communication from the Commission “An Energy Policy for Europe” • Final report on the Sector Inquiry • Single European energy markets are at the heart of achieving “security, sustainability and competitiveness” • Lack of cross-border framework for investment create a “regulatory gap”

  3. The ERGEG approach • Key features : • The development of integrated electricity and gas grids • Regulatory oversight at national and EU level, including appropriate organisational structure • Accountability of regulators and TSOs • Effective unbundling • A “third package” of EU legislation is essential

  4. Development of an EU grid Objective: define roles and responsibilities for cross-border investment Key elements: • TSO responsible: • Collectively, for developing EU operating and security standards • Individually, for developing (and joining) national grids in line with EU standards • EU TSOs must meet collective obligations • Transparency vitally important

  5. Regulatory Oversight Objective: developing stable, predictable regulatory climate for investment, including across borders Key elements: • NRAs should oversee obligations, including EU obligations on national TSOs • European Regulatory Arrangements needed to oversee ETSOplus/GIEplus • NRAs should have harmonised powers and guaranteed political independence • NRAs should co-operate, including through ERGEGplus, on cross-border investigations and enforcement

  6. Accountability • EU organisations to be accountable to the EU Institutions

  7. Unbundling Objective: fair access and appropriate investment incentives Key elements: • From an energy regulatory point of view, ownership unbundling is the “cleanest” and most secure response • “Independent system operator” arrangements will inevitably involve intrusive regulatory arrangements

  8. Regional Initiatives in a Wider Context? • Objective of a single energy market, not differing regional approaches • Potential to deliver real outcomes in the “interim” (i.e. before the necessary legislation is adopted) • e.g. transparency • Can help in practical way to shape the outcome and facilitate the implementation of new legislative requirements • Continuing role for the Regional Initiatives i.e. some investment decisions will always be of regional nature…

  9. The Regional Initiatives One Year On (1/2)

  10. The Regional Initiatives One Year On (2/2) • But, pace of progress varies across REMs • ERGEG there to ensure consistency: • Peer pressure • Reporting to the Florence and Madrid fora • Flexible organisation : • Norwegian Ministry included, within the framework of North West gas REM, given the importance of Norway’s gas supplies • Establishment of “enabler groups”, made up of a small number of regulators, market operators and other stakeholders • Steps being taken to involve Romania and Bulgaria in the work of the relevant electricity and gas REMs

  11. Need for Political Support • European Commission endorsed Regional Initiatives from the beginning • Member States involved via participation in the Madrid and Florence fora: their political support is needed • European Parliament, national members of parliament

  12. Thank You • More information on the • Regional Initiatives is available at • www.ergeg.org • Become an “Online Subscriber” to automatically • receive news from the regions

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