Electricity Reform in Europe

Electricity Reform in Europe

Towards a Single Energy Market

Edited by Jean-Michel Glachant and François Lévêque

The realisation of a European internal market for energy is still a work in progress. Written by leading European scholars and discussed with major energy stakeholders, this book presents a thorough analysis of the motives and methods needed to achieve a single European energy market.

Chapter 11: Postface: design and regulation of EU energy markets between competition policy and common energy policy

Jorge Vasconcelos

Subjects: economics and finance, competition policy, energy economics, industrial economics, public sector economics


Postface: design and regulation of EU energy markets – between competition policy and common energy policy* Jorge Vasconcelos Restlessness is discontent – and discontent is the necessity of progress. Show me a thoroughly satisfied man – and I will show you a failure. (Thomas A. Edison, 1984, p. 110) The impressive package of documents on energy and climate change published by the European Commission (EC) on 10 January 2007 clearly shows that the EC is restless and discontent. This attitude should be welcome, since we clearly face a worrying lack of progress as regards both completion of the internal energy market (IEM) and achievement of environmental goals. The necessity of rapid progress towards more efficient and more integrated European Union (EU) electricity and natural gas markets, within a coherent framework of energy and environmental policies, is acknowledged by all EU institutions and stakeholders. As we now head towards an important stage of political discussions aimed at defining such a coherent policy framework and enabling implementation of new legal and regulatory measures, it may be useful to review past developments in order to better understand the broad context in which these discussions are taking place. Providing this evolutionary perspective is the main purpose of this chapter. THE INTERNAL ENERGY MARKET, ACT I The Single European Act was signed in 1986 with the goal of creating a truly integrated single market by 1992. Although removing barriers to the free circulation of people, capital, goods and services, thus establishing a single European market,...

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