Towards more integration of Central and Eastern European energy markets : [Book of the Central and Eastern European energy market (C3EM) project]

Abstract

Recent global energy market developments have drawn attention to the fact that neighbouring countries are dependent on each other, but without harmonised market rules concerning cross border transactions it seems to be impossible to achieve the final goal of the single European energy market. while cross border trade is one of the most important parts of the security of supply, national level energy market regulations usually focus on the rules and procedures within the country-borders. Multinational trade companies are using European-wide generation portfolios but optimization is sometimes hindered by the different national regulations. Common, coordinated explicit or implicit capacity auctions, liquid regional power exchanges and easier national licensing procedures could be the main tools to promote a properly working regional energy market. on the other hand, the results of the liberalization of the energy markets of the Central and Eastern European countries are delicate issues, thus monitoring and supervision rights of the national regulators shall be ensured. Historical heritage of the national energy markets and previous contractual obligations may impede the full market opening; demolition of these barriers can take up a lot of time. A step by step approach is a perfect way to end the existing problems and to bring the benefit of the competition to the end-user costumers. The C3EM Project proved to be an appropriate forum to bring research workers, market participants and regulators together from the Central and Eastern European region and to serve as a basis to advance a liquid and transparent regional, and someday an integrated Eu wide internal market. I would like to thank to all participants for their valuable contribution to the success of this project and I encourage them to continue the fruitful dialogue after the project-closing as well.