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Policy Department A: Economic and Scientific Policy ____________________________________________________________________________________________ 3.1.3. Third legislative package on EU electricity and gas markets The third internal energy market package has been designed to ensure that internal electricity and gas markets operate smoothly in the future. The motivation behind the third legislative package has been the observation by the European Commission in early 2007 that almost 10 years after opening up European energy markets to competition, after two liberalisation packages (1998 and 2003) and after numerous related Council Conclusions (e.g. at the aforementioned spring 2007 Council), there remained considerable obstacles to a single and competitive European energy market. The Commission especially criticised that markets were not integrated sufficiently, that national markets remained concentrated and that national regulators did not have sufficient independence to carry out their duties. On 19 September 2007, the Commission thus tabled its third liberalisation package focussing on the separation of production and supply from transmission networks (‘unbundling’), better cross-border regulation, investment and trade, harmonisation of the powers of national regulators, greater market transparency on network operation and supply and increased solidarity among EU member states. The whole package was adopted by the Council on 24 June 2009. The 3rd package has implications on renewable energy sources on several levels. The new electricity Directive 2009/72/EC describes already in its preamble (6) that “A well- functioning internal market in electricity should provide producers with the appropriate incentives for investing in new power generation, including in electricity from renewable energy sources”. The most significant effects concern the effective unbundling of Transmission System Operators (TSOs), the “smartening” of distribution networks and the new duties and tasks for the TSOs and regulatory authorities. Effective Unbundling The 3rd package requires effective unbundling of production and supply from transmission networks – either in the form of ownership unbundling, in the form of an Independent System Operator (ISO) or in the form of an Independent Transmission Operator (ITO). Proponents of unbundling claim that vertically integrated companies owning TSOs have little incentives to invest in networks due to the fact that congestion revenues outweigh possible profits from building interconnections. The provisions of the 3rd package address this situation, which has impeded the entry of companies providing energy from renewable sources. Effective unbundling should also contribute to price setting reflecting the real costs of efficient operation and to giving the right signals for the future investments needs, including in renewable energy [European Commission 2007]. Furthermore, the situation of underinvestment also posed an obstacle to the further integration of markets. Effective unbundling in connection with the new network development plans on the national and European level should enhance the development of cross-border interconnections. The 3rd package did not significantly change the unbundling rules concerning distribution system operators (DSOs) for the simple reason that the benefits from further unbundling at the distribution level are not much higher than costs. Also, the Commission notes that “due to the recent entry into force of the last liberalization date in a number of Member States, it would seem to be disproportionate to go a step further in forcing unbundling in this activity” [European Commission 2007]. However, there are several arguments in favour of further unbundling of DSOs. Regarding renewables, this is the case where vertically integrated DSOs try to make switching procedures (e.g., to suppliers with a higher share of renewables) more difficult and where they have a disincentive to make markets more transparent by introducing smart metering. IP/A/ITRE/ST/2009-11 & 12 78 PE 440.278PDF Image | Policy Department Renewable Technologies
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