Press Release

Eurogas’ Initial Reactions On The Eu Energy Council Agreement On The Internal Energy Market Package

13 October 2008

Eurogas, the European Union of the Natural Gas Industry sees the political agreement reached in the EU Energy Council on 10 October 2008 as an important step in the EU legislative process which should lead to the adoption of the internal energy market package in 2009.

The third internal energy market package should help achieving a competitive European energy market, a more harmonized regulatory regime and security of supply.
The resolution of the three major political issues unbundling, third party clause and level playing field should not occult number of practical concerns.
Eurogas has analysed recent Parliament and Council draft texts and has identified several issues which require definite improvements.

Eurogas notes that important discrepancies subsist between the Council and the Parliament texts which will require appropriate solutions.

On basis of a recent legal analysis, Eurogas identified important pending issues such as

- the risk of legal uncertainties of the proposed regulatory regime applicable to investments in new major infrastructures
- the increased risk of overlapping of competencies between regulators and competition authorities and the possible extension of regulatory intervention in the supply and trading activities.

Eurogas is confident that the dialogue between the gas industry, the EU decision makers and other stakeholders will contribute to a balanced, revised internal market legislation.