Transcript GIE Annual Conference

GIE Annual Conference
Recent developments in
Transparency in the EU
Alexander Gee, DG Competition
23 November 2007
GIE Annual Conference
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
23 November 2007
GIE Annual Conference
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
23 November 2007
GIE Annual Conference
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
23 November 2007
GIE Annual Conference
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
23 November 2007
GIE Annual Conference
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?
23 November 2007
GIE Annual Conference
Conclusion
•
•
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•
Importance of transparency recognised
Addressed in legislative package
Guidelines being revised
Further consideration given to trading
transparency
23 November 2007
GIE Annual Conference