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Brendan Devlin brendan.devlin@ec.europa.eu

Brendan Devlin brendan.devlin@ec.europa.eu. The Policy Framework For New Gas Infrastructure. Prospects for the internal gas and electricity market Sector Inquiry Country Reviews / Infringement Procedures Strategic Energy Review. The TSO Gap

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Brendan Devlin brendan.devlin@ec.europa.eu

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  1. Brendan Devlinbrendan.devlin@ec.europa.eu The Policy Framework For New Gas Infrastructure Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

  2. Prospects for the internal gas and electricity market • Sector Inquiry • Country Reviews / Infringement Procedures • Strategic Energy Review Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

  3. The TSO Gap • Integrated companies restrict cross-border capacity enlargement to restrict competition - Unbundling • Formal Obligations for TSO groups at EU level – Requirements to Invest • Regional System Operators Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

  4. The regulatory gap Regulators have a national perspective Regulators’ powers stop at the border Powers are inconsistent across jurisdictions Application of powers insufficiently harmonised Positive Comity or ERGEG+ ? Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

  5. Clear and consistent remuneration Cross Border infrastructure can be risky But is not that risky Approach has centered on exemptions from TPA and other rules Approach could shift In particular, is cross border supply analogous to the utility business or should it be remunerated at close to the all sector industrial average? Should we rethink Art. 25(4) ? Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

  6. Lastly……. The title of this workshop is inverted Banks must accommodate the regulatory framework and not the other way around For example, anti-competitive arrangements are illegal and should not be advanced as necessary for financing Requirements of financial institutions on the financing of gas infrastructure projects and consequences for the regulatory framework

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