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This book provides the first comprehensive analysis of unbundling and, in particular, ownership unbundling policies from the perspective of international economic law. It does so by focusing on the prominent example of the EU’s energy sector and its Third Energy Package. Unbundling has become an increasingly crucial competition instrument in network-bound industries worldwide. It is designed to ensure access to bottleneck infrastructures on fair and non-discriminatory terms and thus to suppress the anti-competitive potential deriving from vertical integration in natural monopoly situations. While promoting important public policy objectives, unbundling policies have also raised a number of legal issues. This book analyzes how international economic law limits the adoption and maintenance of unbundling and related measures and also outlines how international trade law can play a ‘positive’ role in this field. As a result, it provides a valuable reference for academics, practitioners and policy-makers.
Book Synopsis Ownership Unbundling and Related Measures in the EU Energy Sector by : Tilman Michael Dralle
Download or read book Ownership Unbundling and Related Measures in the EU Energy Sector written by Tilman Michael Dralle and published by Springer. This book was released on 2018-04-24 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides the first comprehensive analysis of unbundling and, in particular, ownership unbundling policies from the perspective of international economic law. It does so by focusing on the prominent example of the EU’s energy sector and its Third Energy Package. Unbundling has become an increasingly crucial competition instrument in network-bound industries worldwide. It is designed to ensure access to bottleneck infrastructures on fair and non-discriminatory terms and thus to suppress the anti-competitive potential deriving from vertical integration in natural monopoly situations. While promoting important public policy objectives, unbundling policies have also raised a number of legal issues. This book analyzes how international economic law limits the adoption and maintenance of unbundling and related measures and also outlines how international trade law can play a ‘positive’ role in this field. As a result, it provides a valuable reference for academics, practitioners and policy-makers.
In this paper we will examine the issue of ownership unbundling and forced divestiture remedies imposed in a series of recent competition law cases of the energy market - examined in other papers - in relation to the possible existence of a series of legal obstacles. These energy market decisions belong to a group of antitrust cases in which a structural divestiture remedy has been imposed under the provisions of Article 9 of Regulation 1/2003. This divestiture refers to transmission networks and to generation capacity and is meant to lead to severe structural changes, which are compatible with the findings of 2007 Sector Inquiry and its Proposals for the Third Energy Package and are assumed to accelerate the progress of the establishment of the internal energy market. By favouring such remedies in these cases, Commission affirmed its position as the latter was expressed in relation to the Third Energy Package. Commission suggested ownership unbundling as the most important remedy, in order to resolve problems in the energy sector, related to vertically integrated big firms. Commission proposed full ownership unbundling, meaning the complete separation of ownership of generation assets from ownership of transmission assets and the separation of all network functions from the other activities of the energy supply undertaking, as the best possible solution, which would also lead to the dissolution of big “national champions.” Therefore, ownership unbundling and divestiture of assets as an antitrust remedy share a common basis, meaning that they lead to the transfer of corporate assets to a third party. For this reason, we will examine the issue of the legality of these remedies, in the same way as we would examine the legal enforceability of ownership unbundling. However, we should note that there are two major differences between the two cases. First, regarding the antitrust decisions, this transfer was imposed as a result of the application of general competition rules in specific cases where Commission assumed that the undertakings were involved in anticompetitive behaviour and applied its powers deriving directly from the EC Treaty, in order to restore competition; on the other hand in the Third Energy Package, unbundling constitutes a measure of the sector specific regulation, intended for a general and not prespecified group of undertakings. Second, in the Third Energy Package, ownership unbundling is established as the basic and default solution for transmission, however a number of alternatives exist; on the other hand, in the antitrust cases, divestiture was imposed as an obligatory remedy. These differences will be taken into consideration in our further analysis. Literature suggests that there may be a series of legal objections against ownership unbundling: a) art. 345 TFEU (former art. 295 EC), b) the issue of EU's competences, c) the issue of ownership and other fundamental rights under the ECHR an EU Law and d) the issue of compatibility with the freedom of capital movement and the freedom of establishment.
Book Synopsis Ownership Unbundling in EU & Legal Problems by : Michael D. Diathesopoulos
Download or read book Ownership Unbundling in EU & Legal Problems written by Michael D. Diathesopoulos and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we will examine the issue of ownership unbundling and forced divestiture remedies imposed in a series of recent competition law cases of the energy market - examined in other papers - in relation to the possible existence of a series of legal obstacles. These energy market decisions belong to a group of antitrust cases in which a structural divestiture remedy has been imposed under the provisions of Article 9 of Regulation 1/2003. This divestiture refers to transmission networks and to generation capacity and is meant to lead to severe structural changes, which are compatible with the findings of 2007 Sector Inquiry and its Proposals for the Third Energy Package and are assumed to accelerate the progress of the establishment of the internal energy market. By favouring such remedies in these cases, Commission affirmed its position as the latter was expressed in relation to the Third Energy Package. Commission suggested ownership unbundling as the most important remedy, in order to resolve problems in the energy sector, related to vertically integrated big firms. Commission proposed full ownership unbundling, meaning the complete separation of ownership of generation assets from ownership of transmission assets and the separation of all network functions from the other activities of the energy supply undertaking, as the best possible solution, which would also lead to the dissolution of big “national champions.” Therefore, ownership unbundling and divestiture of assets as an antitrust remedy share a common basis, meaning that they lead to the transfer of corporate assets to a third party. For this reason, we will examine the issue of the legality of these remedies, in the same way as we would examine the legal enforceability of ownership unbundling. However, we should note that there are two major differences between the two cases. First, regarding the antitrust decisions, this transfer was imposed as a result of the application of general competition rules in specific cases where Commission assumed that the undertakings were involved in anticompetitive behaviour and applied its powers deriving directly from the EC Treaty, in order to restore competition; on the other hand in the Third Energy Package, unbundling constitutes a measure of the sector specific regulation, intended for a general and not prespecified group of undertakings. Second, in the Third Energy Package, ownership unbundling is established as the basic and default solution for transmission, however a number of alternatives exist; on the other hand, in the antitrust cases, divestiture was imposed as an obligatory remedy. These differences will be taken into consideration in our further analysis. Literature suggests that there may be a series of legal objections against ownership unbundling: a) art. 345 TFEU (former art. 295 EC), b) the issue of EU's competences, c) the issue of ownership and other fundamental rights under the ECHR an EU Law and d) the issue of compatibility with the freedom of capital movement and the freedom of establishment.
Seminar paper from the year 2008 in the subject Business economics - Business Management, Corporate Governance, University of Applied Sciences Hof, language: English, abstract: Energy is one of nowadays most frequently discussed issues. It becomes a more and more crucial factor for growth and competitiveness in Europe as well as worldwide. Dependable energy services at reasonable prices for business and household customers are essential elements for the economic and social development in the European Union (EU). In this context, a well-functioning Single European Market (SEM) is Europe’s key to meet today’s three main challenges in the energy sector: competitiveness, sustainability and security of supply. As a matter of fact, the way towards a SEM for energy is long and complex. A multitude of aspects play important roles. Outlining all of them would go far beyond the scope of this work. In consequence, this paper focuses on electricity only, leaving out the gas sector. Moreover, emphasis is put on the fundamental EU legislation and the development of the Regional Initiatives as a means to facilitate market integration. Topics of equal importance such as the technical requirements and prerequisites for the general market design had to be excluded from this composition.
Book Synopsis The Single European Market for Electricity by : Stephan Hiller
Download or read book The Single European Market for Electricity written by Stephan Hiller and published by GRIN Verlag. This book was released on 2009-06-05 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2008 in the subject Business economics - Business Management, Corporate Governance, University of Applied Sciences Hof, language: English, abstract: Energy is one of nowadays most frequently discussed issues. It becomes a more and more crucial factor for growth and competitiveness in Europe as well as worldwide. Dependable energy services at reasonable prices for business and household customers are essential elements for the economic and social development in the European Union (EU). In this context, a well-functioning Single European Market (SEM) is Europe’s key to meet today’s three main challenges in the energy sector: competitiveness, sustainability and security of supply. As a matter of fact, the way towards a SEM for energy is long and complex. A multitude of aspects play important roles. Outlining all of them would go far beyond the scope of this work. In consequence, this paper focuses on electricity only, leaving out the gas sector. Moreover, emphasis is put on the fundamental EU legislation and the development of the Regional Initiatives as a means to facilitate market integration. Topics of equal importance such as the technical requirements and prerequisites for the general market design had to be excluded from this composition.
A critical overview of European Union energy law and policy, this book takes a law-in-context approach as it examines the development of EU energy law from the 1950s to the present day. It discusses the development of EU energy law; the application of general EU law into energy; the regulation of EU energy markets; international aspects of EU energy law; and policy, sustainability, and energy regulation. Presenting an up-to-date overview of EU energy law and policy and a critical analysis of its sub-areas, the book extends the discussion from electricity and natural gas markets to other areas of energy, including oil. This holistic approach to the subject is then placed within the broader context of the international geopolitical sphere which EU energy law and policy operates, as the author considers the impact of regional and international energy policies and markets on the EU markets and the overall EU policy. He also draws on the wider context and takes into account non-legal factors such as the impact of unconventionals, the rise of the BRICS, and the 'Arab spring'. The book frames EU energy law as a topic that can provoke intellectual, political, and professional discussion about the slowly moving train of economic regulation under the typical pressures and contradictions of countries and the European Union in the global economy.
Book Synopsis EU Energy Law and Policy by : Kim Talus
Download or read book EU Energy Law and Policy written by Kim Talus and published by OUP Oxford. This book was released on 2013-09-05 with total page 1425 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical overview of European Union energy law and policy, this book takes a law-in-context approach as it examines the development of EU energy law from the 1950s to the present day. It discusses the development of EU energy law; the application of general EU law into energy; the regulation of EU energy markets; international aspects of EU energy law; and policy, sustainability, and energy regulation. Presenting an up-to-date overview of EU energy law and policy and a critical analysis of its sub-areas, the book extends the discussion from electricity and natural gas markets to other areas of energy, including oil. This holistic approach to the subject is then placed within the broader context of the international geopolitical sphere which EU energy law and policy operates, as the author considers the impact of regional and international energy policies and markets on the EU markets and the overall EU policy. He also draws on the wider context and takes into account non-legal factors such as the impact of unconventionals, the rise of the BRICS, and the 'Arab spring'. The book frames EU energy law as a topic that can provoke intellectual, political, and professional discussion about the slowly moving train of economic regulation under the typical pressures and contradictions of countries and the European Union in the global economy.
This book analyzes the legality of energy supply network divestiture as threatened by the European Commission and the legislative unbundling measures which entered into force in summer 2009, in each case on the basis of European economic regulation competences. EC competition law and the question as to whether the European Union is allowed to exercise its competence to legislate for further unbundling measures are one focus of the discussion, which relies extensively on economic evidence and reasoning. Another focus is the question of whether these measures are in breach of economic fundamental rights as recognized by the European Union. The book also deals with the extent to which the implementation of these legislative unbundling measures (in particular ownership unbundling and independent system operation) complies with the constitutional frameworks of Germany, Great Britain, and The Netherlands. In all the jurisdictions discussed, the distinction is made between private and public undertakings where relevant. The final section draws comparative conclusions and lessons.
Book Synopsis Electricity and Gas Supply Network Unbundling in Germany, Great Britain and the Netherlands and the Law of the European Union by : Eckart Ehlers
Download or read book Electricity and Gas Supply Network Unbundling in Germany, Great Britain and the Netherlands and the Law of the European Union written by Eckart Ehlers and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the legality of energy supply network divestiture as threatened by the European Commission and the legislative unbundling measures which entered into force in summer 2009, in each case on the basis of European economic regulation competences. EC competition law and the question as to whether the European Union is allowed to exercise its competence to legislate for further unbundling measures are one focus of the discussion, which relies extensively on economic evidence and reasoning. Another focus is the question of whether these measures are in breach of economic fundamental rights as recognized by the European Union. The book also deals with the extent to which the implementation of these legislative unbundling measures (in particular ownership unbundling and independent system operation) complies with the constitutional frameworks of Germany, Great Britain, and The Netherlands. In all the jurisdictions discussed, the distinction is made between private and public undertakings where relevant. The final section draws comparative conclusions and lessons.
Russia's 2022 invasion of Ukraine administered an unprecedented shock to the European and global energy markets, triggering emergency interventions and market reforms to limit the impact of the crisis on energy prices and supply security. More fundamentally, the supply shock sparked a profound reappraisal of foreign supply and infrastructure dependencies (for example, on China), leading states to adopt new legal initiatives to strengthen the resilience of their clean energy supply chains. Energy geopolitics and supply security are now firmly back at the centre of global energy policy, and in this new geopolitical reality, we critically need to reassess the role of energy law in the creation - and avoidance - of dangerous energy dependencies. Using the 2022 energy crisis as core example, Energy Dependence and Supply Security offers a legal analysis of energy trade and investment as a tool of geopolitical power, an issue seldom considered outside of economic statecraft and energy geopolitics. Anatole Boute's timely analysis illustrates the paradox of energy law and security: legal instruments of energy security have helped create the supply and infrastructure dependencies that allowed for the weaponization of energy. The book examines the legal responses adopted by the European Union to the impact of the Russian energy shock, reflecting on strategies to avoid similar disruptions in the clean energy industry. In turn, it proposes innovative supply security reforms that would allow dependencies to be managed, while still preserving the international collaboration that is needed to accelerate the transition to clean, affordable, and secure energy systems.
Book Synopsis Energy Dependence and Supply Security by : Anatole Boute
Download or read book Energy Dependence and Supply Security written by Anatole Boute and published by Oxford University Press. This book was released on 2024-02-07 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia's 2022 invasion of Ukraine administered an unprecedented shock to the European and global energy markets, triggering emergency interventions and market reforms to limit the impact of the crisis on energy prices and supply security. More fundamentally, the supply shock sparked a profound reappraisal of foreign supply and infrastructure dependencies (for example, on China), leading states to adopt new legal initiatives to strengthen the resilience of their clean energy supply chains. Energy geopolitics and supply security are now firmly back at the centre of global energy policy, and in this new geopolitical reality, we critically need to reassess the role of energy law in the creation - and avoidance - of dangerous energy dependencies. Using the 2022 energy crisis as core example, Energy Dependence and Supply Security offers a legal analysis of energy trade and investment as a tool of geopolitical power, an issue seldom considered outside of economic statecraft and energy geopolitics. Anatole Boute's timely analysis illustrates the paradox of energy law and security: legal instruments of energy security have helped create the supply and infrastructure dependencies that allowed for the weaponization of energy. The book examines the legal responses adopted by the European Union to the impact of the Russian energy shock, reflecting on strategies to avoid similar disruptions in the clean energy industry. In turn, it proposes innovative supply security reforms that would allow dependencies to be managed, while still preserving the international collaboration that is needed to accelerate the transition to clean, affordable, and secure energy systems.
This book analyses the case-law of the European Court of Justice on free movement in the energy sector. Sirja-Leena Penttinen provides a comprehensive review of the interpretation and application of the free movement provisions in the energy sector by the European Court of Justice (ECJ), which allow for cross-border energy trade (free movement of goods) and energy investments (free movement of capital). Through detailed analysis of ECJ case-law, Penttinen tracks the development of the legislative framework at EU level in response to the growth of the energy sector, as well as exposing the various political and economic nuances at play. In addition, she sheds light on the dynamic relationship between the EU Member States and their regulatory autonomy, the EU legislator, the Commission and the Court in the establishment of the EU internal energy market. Taking a coherent, systematic approach, this volume will be of great interest to scholars of EU law and energy policy, as well as policymakers and professionals working in this sector.
Book Synopsis Free Movement and the Energy Sector in the European Union by : Sirja-Leena Penttinen
Download or read book Free Movement and the Energy Sector in the European Union written by Sirja-Leena Penttinen and published by Routledge. This book was released on 2020-04-27 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the case-law of the European Court of Justice on free movement in the energy sector. Sirja-Leena Penttinen provides a comprehensive review of the interpretation and application of the free movement provisions in the energy sector by the European Court of Justice (ECJ), which allow for cross-border energy trade (free movement of goods) and energy investments (free movement of capital). Through detailed analysis of ECJ case-law, Penttinen tracks the development of the legislative framework at EU level in response to the growth of the energy sector, as well as exposing the various political and economic nuances at play. In addition, she sheds light on the dynamic relationship between the EU Member States and their regulatory autonomy, the EU legislator, the Commission and the Court in the establishment of the EU internal energy market. Taking a coherent, systematic approach, this volume will be of great interest to scholars of EU law and energy policy, as well as policymakers and professionals working in this sector.
The impact of the new 'Great Game' on Central Asia's energy reforms illustrates the interconnection between law, geopolitics and institutions.
Book Synopsis Energy Security along the New Silk Road by : Anatole Boute
Download or read book Energy Security along the New Silk Road written by Anatole Boute and published by Cambridge University Press. This book was released on 2019-06-13 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of the new 'Great Game' on Central Asia's energy reforms illustrates the interconnection between law, geopolitics and institutions.
Recent years have seen a major growth in the European law concerning the operation of the energy industry, especially with respect to electricity and gas. Several directives have been adopted that are aimed at the promotion of competition in this key sector of the European economy. At thesame time, the jurisprudence of the European Court had developed further on matters such as access to networks, import and export monopolies and security of supply.In this book the authors examine the principal legislation, Treaty provisions and decisions of the Court of Justice and Court of First Instance of the EU as they related to the promotion of competition in European energy markets. In particular, two chapters are devoted to a detailed analysis of theprovisions of the two directives that set out common rules for the creation of an internal market in the electricity and gas sectors. In each case, the analysis is set in the context of the various programmes of energy market liberalization and privatization in the Member States, which aresummarized in this book. However, the authors also take the wider pan-European context into account, explaining the requirements and the implications of the European Economic Area Agreement, the Energy Charter Treaty and the Europe Agreements with countries of Central and Eastern Europe.The approach adopted by the authors is both analytical and historical. They locate the legislation in the context of the EU Internal Market programme that began in the late 1980s and explain the roles played by the various parties (energy industries, consumers and EU institutions) in shaping thefinal legislation. Importantly, they explain how the framework character of the energy directives has led to further important rule-making in the implementation of the directives across the EU. They conclude that a co-ordinated response between the European Commission and the national regulatorswill be essential to resolve problems arising in the transition to a competitive energy market in the EU.
Book Synopsis Competition in Energy Markets by : Peter D. Cameron
Download or read book Competition in Energy Markets written by Peter D. Cameron and published by Oxford University Press, USA. This book was released on 2002 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent years have seen a major growth in the European law concerning the operation of the energy industry, especially with respect to electricity and gas. Several directives have been adopted that are aimed at the promotion of competition in this key sector of the European economy. At thesame time, the jurisprudence of the European Court had developed further on matters such as access to networks, import and export monopolies and security of supply.In this book the authors examine the principal legislation, Treaty provisions and decisions of the Court of Justice and Court of First Instance of the EU as they related to the promotion of competition in European energy markets. In particular, two chapters are devoted to a detailed analysis of theprovisions of the two directives that set out common rules for the creation of an internal market in the electricity and gas sectors. In each case, the analysis is set in the context of the various programmes of energy market liberalization and privatization in the Member States, which aresummarized in this book. However, the authors also take the wider pan-European context into account, explaining the requirements and the implications of the European Economic Area Agreement, the Energy Charter Treaty and the Europe Agreements with countries of Central and Eastern Europe.The approach adopted by the authors is both analytical and historical. They locate the legislation in the context of the EU Internal Market programme that began in the late 1980s and explain the roles played by the various parties (energy industries, consumers and EU institutions) in shaping thefinal legislation. Importantly, they explain how the framework character of the energy directives has led to further important rule-making in the implementation of the directives across the EU. They conclude that a co-ordinated response between the European Commission and the national regulatorswill be essential to resolve problems arising in the transition to a competitive energy market in the EU.
The expansion of cross-border power transmission infrastructures and the regional integration of electricity markets are accelerating on several continents. The internationalization of trade in electric energy is embedded in an even greater transformation: the transition from fossil fuels to renewable energies and the race to net zero emissions. Against this backdrop, this book provides a comprehensive examination of the regulatory framework that governs the established and newly emerging electricity trading relations. Taking the technical and economic foundations as a starting point and thoroughly examining current developments on four continents, the book provides a global perspective on the state of the art in electricity market integration. in doing so, it focuses on the most relevant issues including transit of electricity, quantitative restrictions, market foreclosure and anti-competitive practices employed by the actors on electricity markets. In turn, the book carefully analyzes the regulatory framework provided by the WTO Agreements, the Energy Charter Treaty and other relevant preferential trade agreements. In its closing section, it moves beyond the applicable legal architecture to make concrete proposals on the future design of global trade rules specifically tailored to the electricity sector, which could provide a more reliable and transparent framework for the multilateral regulation of electricity trade.
Book Synopsis World Trade Law and the Emergence of International Electricity Markets by : Christopher Frey
Download or read book World Trade Law and the Emergence of International Electricity Markets written by Christopher Frey and published by Springer Nature. This book was released on 2022-06-02 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The expansion of cross-border power transmission infrastructures and the regional integration of electricity markets are accelerating on several continents. The internationalization of trade in electric energy is embedded in an even greater transformation: the transition from fossil fuels to renewable energies and the race to net zero emissions. Against this backdrop, this book provides a comprehensive examination of the regulatory framework that governs the established and newly emerging electricity trading relations. Taking the technical and economic foundations as a starting point and thoroughly examining current developments on four continents, the book provides a global perspective on the state of the art in electricity market integration. in doing so, it focuses on the most relevant issues including transit of electricity, quantitative restrictions, market foreclosure and anti-competitive practices employed by the actors on electricity markets. In turn, the book carefully analyzes the regulatory framework provided by the WTO Agreements, the Energy Charter Treaty and other relevant preferential trade agreements. In its closing section, it moves beyond the applicable legal architecture to make concrete proposals on the future design of global trade rules specifically tailored to the electricity sector, which could provide a more reliable and transparent framework for the multilateral regulation of electricity trade.
