Regulation, Supply and Demand
- The Loyola de Palacio Series on European Energy Policy
Chapter 7: A vision for the EU gas target model: MECO-S
The discussion on a target model for European gas network access has been going on for sometime, officially starting with the conclusion of the 18th European Gas Regulatory Forum in September 2010, which invited ‘The Commission and the regulators to explore, in close cooperation with system operators and other stakeholders, the interaction and interdependence of all relevant areas for Network Codes and to initiate a process establishing a gas market target model’. Based on this conclusion the Council of European Energy Regulators (CEER) started – by the end of 2010 – the process of developing a gas target model for Europe. The desired target model will provide a unifying vision on the future layout of the European gas market architecture. That vision will assist all stakeholders in quickly and efficiently implementing the Third Energy Package on the internal gas market in a consistent way. This chapter describes a proposal for the European gas target model with a special focus on market architectures and investment. The proposed gas target model is termed MECO-S model. The MECO-S model is a ‘Market Enabling, Connecting and Securing’ model describing an end-state of the gas market to be achieved over time.
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