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GIE Annual Conference

GIE Annual Conference. Recent developments in Transparency in the EU Alexander Gee, DG Competition. Introduction. Transparency identified as one of five main barriers to competition Creates a level playing-field Builds confidence in the market Inquiry focused on:

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GIE Annual Conference

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  1. GIE Annual Conference Recent developments in Transparency in the EU Alexander Gee, DG Competition GIE Annual Conference

  2. Introduction • Transparency identified as one of five main barriers to competition • Creates a level playing-field • Builds confidence in the market • Inquiry focused on: • access to transit pipelines • secondary trading • Storage • the “three-or-more” rule GIE Annual Conference

  3. Sector Inquiry • Almost all agreed: • information should be published without direct contact with primary capacity holder (often the incumbent) • cover technical, contracted, available capacity • cover forecast and historical availability • cover storage in detail and into the future • TSOs should ensure use-it-or-lose-it provisions applied and facilitate secondary trading GIE Annual Conference

  4. Sector Inquiry: three-or-more rule • Published information can be limited if harm “legitimate commercial interests” • Regulators shall not authorise restrictions if there are three-or-more users • Applies to all users not just primary ones • N-S route: 1 or 2 primary users on 80% of route but 1 or 2 users on only 20% • E-W route: 65% of route covered whether primary users or all users • Should in any case publish number of users and a range of availability if not actual figures GIE Annual Conference

  5. Legislative Proposals of 19.09.2007 • Existing transparency rules in Article 6 of Gas Regulation and annexed guidelines • Proposal: • delete three-or-more rule • TSO to publish ex-ante and ex-post supply and demand information • LNG and storage operators to publish contracted and available capacity and actual use • TSOs and LNG and storage operators to keep relevant information for 5 years GIE Annual Conference

  6. Other action • Preparation of revised guidelines on transparency in current Gas Regulation to clarify: • Technical and tariff information • Capacity information • Confidentiality rules including the three-or-more rule • Review of transparency regarding derivatives and financial instruments by mid-2008 • Clarify requirements under financial rules • Evidence of market failure? • Could pre- or post-trade transparency help? GIE Annual Conference

  7. Conclusion • Importance of transparency recognised • Addressed in legislative package • Guidelines being revised • Further consideration given to trading transparency GIE Annual Conference

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