The international energy situation
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European energy policy
European energy policy
December 2008 saw the approval of an ambitious package of environmental regulations that were intended to help achieve the 3 targets established in 2007, the so-called ‘triple 20’ set for 2020 (a 20% reduction in greenhouse gases, renewable energies accounting for 20% of final energy consumption in the EU and, implicitly, a 20% improvement in energy efficiency over the same period).
The European Commission adopted a wide-ranging package of energy-related measures (“The Green Book”) to give a further boost to energy security in Europe and reinforce its triple-20 proposals on climate change and increased energy efficiency:
- A new strategy to create solidarity among member states in respect of energy issues.
- A new policy to create more efficient gas and electricity networks.
- A community plan of action for energy security.
In action relating to the energy supply networks, six essential strategic initiatives have been defined in connection with energy security in the EU: interconnection for the Baltic region, a Mediterranean energy ring, north-south gas and electricity interconnection within central and south-eastern Europe, a North Sea electricity grid, a gas corridor in the south and an efficient supply of LNG for Europe.
On 9 July, the European Parliament approved an alternative ITO (Independent Transmission Operator) model for the gas sector.
This option was proposed on 6 June by the European Commission and the Slovenian Presidency as a solution to the deadlock over the package of measures relating to the internal gas and electricity market.
Although the European Parliament has restated its preference for the “ownership unbuilding” option that involves dividing up assets, its individual members prefer to put their backing behind the alternative ITO, bearing in mind the compromise achieved.
We should recall that the ITO option allows a past operator to maintain ownership of its infrastructure (gas and electricity), though there are additional requirements relating to independent management and greater oversight of this independence by the regulator.
On 28 December, the European Commission launched its new Citizens’ Energy Forum in London. This new platform is designed to act as a vehicle to ensure that energy-related problems experienced by consumers are reflected in European legislation.
Unión Fenosa Gas
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Endesa Gas
Annual Report 2.008: Sedigas - The Spanish Gas Association