Towards a Single Energy Market
Edited by Jean-Michel Glachant and François Lévêque
Chapter 11: Postface: design and regulation of EU energy markets between competition policy and common energy policy
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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