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EU passes 3rd reform package for energy market liberalisation
The European Parliament and the Czech EU Presidency reached a long-awaited agreement on the third energy package consisting of a reform of the Gas and Electricity Directives and the corresponding EU regulations. On 19 September 2007, the Commission had presented its proposals for a 'third package' of proposals to further liberalise the EU's energy market. The proposals sparked much controversy, particularly over the issue of 'ownership unbundling', meaning the break-up of large vertically-integrated energy firms.
In work commissioned by E.ON, Frontier (Europe) showed various flaws in the regulatory impact assessment that the Commission had prepared. This together with other submissions consequently led France, Germany and six other member states to oppose the unbundling plans. Together, they tabled an alternative proposal in February 2008.
The informal compromise deal - which allows the continuation of vertical integration under strict rules, and creates a European authority to oversee cross border trade - still needs approval by the full EU assembly and member-state representatives in the Council of Ministers.
In most recent work Frontier (Europe) has advised private firms and government authorities in several EU countries in anticipation of the third Energy package. This work has related to issues such as industry restructuring, transmission access rules, cross-border trade and exemptions from third-party access regulations.
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