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Manufacturing the EU Energy Markets. The Current Dynamics of Regulatory Practice

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  • Leigh Hancher
  • Adrien de Hauteclocque

Abstract

This chapter aims to analysis the new dynamics at work in EU energy regulation. Since the publication of the European Commission’s ‘Sector Inquiry Report’ in January 2007, European energy companies have felt the cold wind of competition law - many for the first time. In addition, national competition authorities (NCAs) have been actively pursuing abusive market practices - sometimes making innovative use of competition law in the process. Certain energy giants have agreed to unbundle their transmission networks - even when their national governments opposed the inclusion of ownership unbundling in the draft ‘Third Package’ of electricity and gas legislation. In parallel, the Third Package envisages the creation of a new regulatory agency - ACER - to co-ordinate technical crossborder regulatory issues in the internal market. So who will be in the driving seat in the next decade - and will co-ordinated regulatory powers be the preferred approach to market design? Will regulatory rules co-exist alongside competition based controls or will the latter gradually supersede the former? This chapter will examine these critical issues.

Suggested Citation

  • Leigh Hancher & Adrien de Hauteclocque, 2010. "Manufacturing the EU Energy Markets. The Current Dynamics of Regulatory Practice," RSCAS Working Papers 2010/01, European University Institute.
    • Handle: RePEc:rsc:rsceui:2010/01
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    References listed on IDEAS

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    1. Claude Henry & Alain Jeunemaitre & Michel Matheu, 2001. "Regulation of Network Utilities: the European Experience," Post-Print hal-00262924, HAL.
    2. Hauteclocque, Adrien de & Glachant, Jean-Michel, 2009. "Long-term energy supply contracts in European competition policy: Fuzzy not crazy," Energy Policy, Elsevier, vol. 37(12), pages 5399-5407, December.
    3. Jamasb, Tooraj, 2006. "Between the state and market: Electricity sector reform in developing countries," Utilities Policy, Elsevier, vol. 14(1), pages 14-30, March.
    4. Eric Brousseau, 2009. "Regulating Networks in the "New Economy": Organising Coopetition to Share Information and Knowledge," Post-Print halshs-00685833, HAL.
    5. Shaun D. MCRAE & Frank A. WOLAK, 2009. "How Do Firms Exercise Unilateral Market Power? Evidence from a Bid-Based Wholesale Electricity Market," RSCAS Working Papers 2009/36, European University Institute.
    6. SMEERS, Yves, 2005. "How well can one measure market power in restructured electricity systems ?," LIDAM Discussion Papers CORE 2005050, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Adrien de Hauteclocque & Jean-Michel Glachant, 2009. "Longterm Energy Supply Contracts in European Competition Policy: Fuzzy not Crazy," Working Papers EPRG 0919, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    8. Mark Armstrong & Simon Cowan & John Vickers, 1994. "Regulatory Reform: Economic Analysis and British Experience," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510790, April.
    9. Henry, Claude & Matheu, Michel & Jeunemaitre, Alain (ed.), 2001. "Regulation of Network Utilities: The European Experience," OUP Catalogue, Oxford University Press, number 9780199244157.
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    Cited by:

    1. Leigh Hancher, 2011. "Long-term Contracts and State Aid: A New Application of the EU State Aid Regime or a Special Case?," Chapters, in: Jean-Michel Glachant & Dominique Finon & Adrien de Hauteclocque (ed.), Competition, Contracts and Electricity Markets, chapter 10, Edward Elgar Publishing.
    2. Brüning, Anna, 2014. "Towards a green internal electricity market: The self-regulation of European Transmission System Operators for Electricity within EU multilevel governance," IPE Working Papers 31/2014, Berlin School of Economics and Law, Institute for International Political Economy (IPE).

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    Keywords

    Antitrust; Third Legislative Package; ACER; European Union;
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