HOW CAN WE ENSURE A FUNCTIONING ENERGY MARKET IN EUROPE - A COMMENT - dr. Péter Kaderják Director, REKK European Parliament EPP- ED Hearing on the European.

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Presentation transcript:

HOW CAN WE ENSURE A FUNCTIONING ENERGY MARKET IN EUROPE - A COMMENT - dr. Péter Kaderják Director, REKK European Parliament EPP- ED Hearing on the European Commissions Green Paper on Energy 18 September, 2006

2 1 - COMMON EXTERNAL POLICY ON ENERGY: A WAY TO SOURCE DIVERSIFICATION All major global partners have well-focused energy policies and active energy diplomacy (US, Russia, China) EU misses to realize important opportunities for source diversification, e.g. in Central Asia Russia can play a divide and rule game in gas through bilateral agreements with carefully selected member states (Germany, Italy, Hungary)

3 EXAMPLE OF NEW MEMBERS For new member states the real issue is the risks of unilateral dependence on Russian supplies and not SoS Price- and political risks versus security of supply Competition followed by source diversification IS NOT the right order Without source diversification price liberalisation will lead to high prices and will discredit the concept of (Russin-Russian) gas-to-gas competition Might not hold for old 15

4 ABUNDANT SOURCES OF GAS AVAILABLE 4500 km 4 47,570 33,530 4,000 4,520 Missing link between giant gas sources and potential markets (in bcm)

5 PROBLEMS WITH THE PRESENT INFRASTRUCTURE, BUT…

6 …DEVELOPMENT PLANS Russian – German Pact ? Russian – Italian talks Gazprom – MOL (HU) plans

7 2 - EUROPEAN ENERGY REGULATOR: HATED BUT NEEDED 26 national regulators will never add up to a European regulator Authority could strictly be limited to (1) regulate cross border transactions and (2) market surveillance Quick, straight and transparent decisions are needed (consider the Florence process…)

8 3 - INCREASE THE CONTESTABILITY OF NATIONAL MARKETS Consistent price liberalisation Remove regulated prices for eligible customers (except for households) Remove exclusive supply rights for incumbent providers connected to the tariff market segment Do more about the TSOs Accomplish / create incentives for the ownership unbundling of the TSO (take the Dutch)…or Strengthen the antitrust oversight of the potentially anti-competitive behaviour of TSOs