The Internal Energy Market Progress Report – The View For The CEE Member States

Author:Ms Raluca Dîrjan
Profession:Schoenherr Attorneys at Law
 
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As part of the process of assessing the status of finalising the Internal Energy Market (IEM), the European Commission at the end of 2012 presented a Communication on the state of play in EU-27. This material is valuable for the investors in the energy sector in Europe, as it provides a comprehensive analysis of the progress reached so far under the IEM policy, as well as a road map of the priorities for the energy markets in each member state. The CEE markets share common features such as high market concentration, regulated prices for the final customers, and the need to develop and/or improve their interconnection infrastructure.

This newsletter looks briefly at the key findings of the analysis across the EU and then focuses on the priorities that the CEE markets need to address, as well as a snapshot of regulated electricity and gas prices and the pending infringement procedures for the member states in the CEE region.

As part of the process of assessing the status of finalising the Internal Energy Market (IEM), the European Commission at the end of 2012 presented a Communication on the state of play in EU-271. The Commission envisages the completion of the Internal Energy Market by 2014.

The Staff Working Document reports in detail on: facts and figures for energy consumption and supply for conventional and renewable energy in the EU, the developments of the wholesale and retail markets, unbundling and market structure, country reports, and the status of the infringement procedures under the 2nd and 3rd Energy Packages.

This material is valuable for the investors in the energy sector in Europe, as it provides a comprehensive analysis of the progress reached so far under the IEM policy, as well as a road map of those energy market priorities that from the Commission's perspective are crucial to ensuring that the jigsaw of 27 electricity and gas markets come together under one functional system.

Key Findings for the EU-27

Currently the EU is not on track to meet the 2014 deadline for the completion of the IEM; Increased share of renewable energy: renewable energy represents 12.5% of EU energy consumption, up 4% in the last five years; there is some evidence of energy savings, especially by the industrial customers; Production of crude oil declined; Production of natural gas and nuclear energy - slight increase; Slight fall in import dependency: 52.7% from the peak of 54.6% in 2008; Fall in LNG imports; Continued increase of the oil-indexed prices in...

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