EU en­ergy mono­liths in sights

The Weekend Australian - Travel - - Resources -

AEURO­PEAN Par­lia­ment com­mit­tee has ap­proved the cre­ation of an en­ergy agency to help spur com­pe­ti­tion in the elec­tric­ity and nat­u­ral­gas mar­ket. The EU’s en­ergy com­mit­tee voted to es­tab­lish an Agency for the Co­op­er­a­tion of En­ergy Reg­u­la­tors to over­see na­tional au­thor­i­ties and trans­mis­sion-sys­tem op­er­a­tors, ad­vise EU reg­u­la­tors on mar­ket reg­u­la­tion and de­cide on cross-border is­sues.

The panel also backed sep­a­rate pro­pos­als to fa­cil­i­tate en­ergy flows by cre­at­ing a ‘‘ Euro­pean Net­work of Trans­mis­sion Sys­tem Op­er­a­tors’’ for elec­tric­ity and gas whose task would be to de­velop codes for mat­ters such as grid ac­cess, con­ges­tion man­age­ment, in­ter­op­er­abil­ity and trans­parency.

The goal is to move Europe’s en­ergy mar­ket to a ‘‘ stage at which com­pe­ti­tion is gen­uine and sus­tain­able’’, the com­mit­tee said. The full EU Par­lia­ment and na­tional gov­ern­ments must still give their ap­proval.

The EU is step­ping up a push to open the 340 bil­lion-euro ($535 bil­lion) power and gas mar­ket to more com­pe­ti­tion. Laws in 2003 gave cus­tomers the right to choose sup­pli­ers, but the mar­ket re­mains frag­mented by na­tional bar­ri­ers. The com­mis­sion’s pack­age fo­cuses on pro­pos­als to break up in­cum­bent elec­tric­ity and gas com­pa­nies, or re­move their net­work- man­age­ment role. This part of the draft leg­is­la­tion would re­quire com­pa­nies to sell their trans­mis­sion net­works and spin off that busi­ness, or hand over op­er­a­tion of the grid to an in­de­pen­dent com­pany. Bloomberg

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