EU Energy Law series – serie

This book addresses EU law on market manipulation, insider trading and the obligation to disclose inside information on wholesale electricity and gas markets in Europe, focussing on the EU REMIT Regulation. It provides in depth commentary on the articles of the Regulation and situates it within the wider legal, economic and political context.Key Features:Analyses the political and legislative road to the EU REMIT RegulationOutlines the law and administrative practice on energy market abuseExplores the relationship between REMIT and the EU Market Abuse RegulationHighlights economic considerations in market manipulationDescribes the latest amendments to REMIT in 2024Compares similar REMIT rules in the UK and energy market manipulation rules in the USCovers more than 50 published decisions across Europe, including in France, Hungary, Italy, the Netherlands, Spain and the UKThis book provides clear and practical guidance for in-house counsel of energy companies participating in EU or UK electricity and gas markets, as well as scholars, law firms and practitioners advising on energy matters. It may be useful also, as an independent view of the subject, to enforcing regulators such as the EU Agency for the Cooperation of Energy Regulators, national energy regulatory authorities, members of the European Commission and the European Securities and Markets Authority.

This book was originally published by Claeys and Casteels, now formally part of Edward Elgar Publishing.The EU’s gas market is at the very centre of the Energy Union, and is changing faster than ever before. Indeed, the European Council has stressed repeatedly the EU’s priority of ensuring its gas security, and promoting liquid and competitive gas markets across the whole of the EU.The Commission has already proposed a revision to the gas Security of Supply Regulation and negotiations are close to finalisation. In 2017, the Commission published an ‘LNG Strategy’.In terms of market integration, the progressive adoption of grid codes is further integrating markets, and the emergence of active trading hubs in North West Europe, is seeing the emergence of similar liquid markets throughout the EU. The EU has also been actively pursuing its aim of diversifying its sources of gas supplies, making progress in bringing the Southern Corridor to fruition, and is actively looking at other potential suppliers, for example in the Eastern Mediterranean. And in the competition policy field the Commission has equally been active, scrutinising the behaviour in particular of companies holding dominant positions in parts of the EU.This volume, introduced by EU Energy Commissioner Miguel Arias CAÑETE, brings together commentary and analysis by some of the leading Commission officials, lawyers and industry figures on all of these issues, offering a comprehensive overview of the challenges faced by the EU, its response, and the future direction of EU gas policy.

This book was originally published by Claeys and Casteels, now formally part of Edward Elgar Publishing. Since the publication of the Fourth Edition in 2016 the EU's internal gas and electricity legislative framework has continued to develop quickly:A whole series of new Grid Codes have been adopted, including those on Capacity Allocation and, Congestion Management, on forward capacity allocation, on electricity balancing (EB), emergency and restoration, and on electricity transmission system operation.The Gas Directive has been amended, to bring pipelines connecting into the European system under the Internal Market rules on unbundling, regulated tariffs and third party access.The 'Electricity Market Design' package has been adopted, implementing new rules on balancing, capacity mechanisms, demand response, storage, the rights of consumers to participate in the electricity market and the powers and responsibilities of ACER.New exemption decisions for new infrastructureThese changes mark a major evolution in the EU's Internal Market, as it pioneers the way towards a zero-carbon electricity system.The new volume continues to provide the standard industry reference work in this area, written by some of the key Commission Officials responsible for these developments, together with leading industry practitioners and academics.

This book was originally published by Claeys and Casteels, now formally part of Edward Elgar Publishing.At the end of 2018 the EU agreed a wholesale overhaul of EU electricity laws with the 'Electricity Market Design' package. The aim of this package is to bring EU electricity law up to date, taking account of its aim to become completely decarbonised by 2050, and to deal with the rapidly increasing level of intermittent renewable electricity in the network.The share of electricity produced by renewable energy sources is expected to grow to more than 50% in 2030. With this in mind, the electricity market design framework has been modernised to deal with intermittency, with new provisions on storage, capacity mechanisms (introducing a new emissions limit for power plants eligible to receive subsidies) and demand response.In addition, the role of consumers in the future electricity market has been re-thought and incorporated in the Electricity Market Design, providing the right incentives for consumers to become more active and to contribute to keeping the electricity system stable, as well as new consumer rights.In order to increase the resilience of the EU electricity system, each EU country is in the future required to define Risk Preparedness plans to be ready to respond to unexpected situations, working closely with neighbouring member states.The new rules will be supported by a stronger role for the ACER Agency, which coordinates work among national energy regulators, providing additional powers and responsibilities, and thus ensuring that decisions are taken for making best use of an integrated EU energy market to the benefit of all EU citizens.This new volume, written by all the key Commission officials responsible for drafting, negotiating and now implementing this major new piece of legislation is essential reading for all those involved in the regulation and development of Europe's electricity industry.

This book was originally published by Claeys and Casteels, now formally part of Edward Elgar Publishing.This book examines developments in the European Union’s energy policy and particularly the way security of energy supply is taken into account and handled. As one of the three objectives of the EU energy policy, security of supply emerged as a central element of the policy, after the January 2009 gas crisis and with the consequences of the Fukushima events.The contributions to the book are made by the most informed people on the various subjects given their professional positions.It analyses the extensive developments of the concept toward energy security, the impact of the third internal market package on its reinforcement and the major role to be played by infrastructures in physically ensuring the security of supply. It comments on the most recent and relevant instruments adopted by the European Union in the field of oil, the so-called Oil stocks directive, and gas, the Regulation on Security of Gas Supply. In the field of electricity, it reports on the experience of the Transmission System Operators working together in the European Network (ENTSO-E) to guarantee security of supply. The external dimension of the EU energy policy is explained in as far as it aims at security of supply.Three illustrative cases are particularly studied: the Southern gas corridor development, the January 2009 gas crisis and the Baltic Energy Market Inter-connection Plan. The relevant EU legislative texts and the recent communications of the Commission on the subject are appended, to offer the direct references of what is discussed in the various sections. Foreword by Sir Philip Lowe, Former Director-General, DG ENER, EC.

This book was originally published by Claeys and Casteels, now formally part of Edward Elgar Publishing.Infrastructures are the backbone of any economy and energy is vital to our way of life. Electricity transmission, gas and oil pipelines, smart grids, storage of energy and later on CO2 transport are essential elements of our present and future energy systems. The energy and climate policies conducted by the European Union since 2007 have led to the Third Energy Package governing the internal electricity and gas markets, to the Directive setting the target of 20% of renewable sources of energy by 2020, to the Energy Efficiency Directive and, most recently, to the Regulation establishing the guidelines on trans-European energy infrastructures and to the new financing programme called ‘Connecting Europe Facility’ (CEF).In five years' time, national energy policies have been drastically reshaped by the EU Directives and Regulations, now based on Article 194 of the Treaty on the Functioning of the European Union. It is now time to understand fully the importance of these regulatory changes and the resulting ‘Europeanisation’ of the energy policy.