By Ina Dimireva
Member States still lag behind in the implementation of the internal energy market rules, reveals the Commissions 2009 Benchmarking Report adopted today. The correct transposition of the European electricity and gas legislation in all EU Member States is still not complete.
The challenge the EU faces is to accelerate investments in energy infrastructure to enhance cross border trade, access to diversified sources of energy and in particular from renewable sources. The Third Internal Energy Market Package adopted in 2009 provides for clearer sector specific rules and thus for incentives to invest.
Energy Commissioner, Günther Oettinger, said: “A well functioning internal energy market will provide the right investment signals and will bring clear benefits for electricity and gas consumers across the EU. The full and correct implementation of the energy rules has still not been achieved. This situation needs to change and the Commission will use all means available to make this happen. What is at stake is our ability to reach the goals set in the Europe 2020 Strategy through a secure, competitive and sustainable supply of energy to our economy and our society.”
The financial and economic crisis has created new opportunities for competition, since more gas is available at lower prices on liquid hubs. However, the report points out that the reduced oil prices on the international market have not been entirely reflected in end user gas and electricity prices. The work of national regulatory authorities now tends to shift the focus towards the consumer, including the roll-out of smart meters as the key to smart grids in the internal energy market.
This is a welcome trend for the deployment of active participation by customers in the internal energy market and increased energy efficiency and large-scale integration of renewables, as well as additional energy services, increased market transparency and easier supplier switching. Additionally, cooperation between European power exchanges, as well as the ongoing trend of increasing trade, is a promising sign of functioning markets.
