1. Brendan Devlin brendan.devlin@ec.europa.eu
The Policy Framework For New Gas Infrastructure
Brendan Devlin
05/12/2018
Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

2. Prospects for the internal gas and electricity market Sector Inquiry
Country Reviews / Infringement Procedures
Strategic Energy Review
05/12/2018
Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

3. Formal Obligations for TSO groups at EU level – Requirements to Invest
The TSO Gap
Integrated companies restrict cross-border capacity enlargement to restrict competition - Unbundling
Formal Obligations for TSO groups at EU level – Requirements to Invest
Regional System Operators
05/12/2018
Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

4. Regulators have a national perspective
The regulatory gap
Regulators have a national perspective
Regulators’ powers stop at the border
Powers are inconsistent across jurisdictions
Application of powers insufficiently harmonised
Positive Comity or ERGEG+ ?
05/12/2018
Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

5. Clear and consistent remuneration
Cross Border infrastructure can be risky
But is not that risky
Approach has centered on exemptions from TPA and other rules
Approach could shift
In particular, is cross border supply analogous to the utility business or should it be remunerated at close to the all sector industrial average?
Should we rethink Art. 25(4) ?
05/12/2018
Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

6. The title of this workshop is inverted
Lastly…….
The title of this workshop is inverted
Banks must accommodate the regulatory framework and not the other way around
For example, anti-competitive arrangements are illegal and should not be advanced as necessary for financing
05/12/2018
Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework