1. New Tasks and Possibilities - prospects for the TSOs following the Third Liberalization Package Peder Ø. Andreasen, President and CEO, Energinet.dk

2. Changes in the value chain Production Exchange Storage Transmission Distribution Metering Sales TSOs Customer

3. International National MarketRegulation

4. The Third Package is at a Milestone Energy Council 28 February ­no compromise on ownership unbundling The E.ON Settlement ­will others follow E.ONs lead? The problem of insufficient unbundling must be solved ­otherwise we will soon need a Fourth Package TSOs must focus on socio-economics and common European goals ­not national or corporate interests

5. ENTSO will be an important new tool Better European cooperation is needed ­for gas as well as electricity The goal of ENTSO ­to fulfill the visions of the European Commission Good experiences and valuable lessons from Nordel ­example: The five prioritized cross-sections From regional to pan-European development? ­regions must come together ENTSO decisions must be implemented! ­national regulators must approve ENTSO decisions

6. ENTSO success depends on TSO commitment! ENTSO must prove to be efficient ­ability to decide Reasoned arguments must be the foundation ­focus on the common good Energinet.dk will be an active participant ­active TSO commitment is needed