Industry Example: The European Market for Electricity

Size: px
Start display at page:

Download "Industry Example: The European Market for Electricity"

Transcription

1 Industry Example: The European Market for Electricity Professur für BWL, insb. Internationale Wirtschaft Folie 1

2 Agenda 1. Some theory 2. The National Markets for Electricity 3. EU Liberalization Policy 4. Conclusion Professur für BWL, insb. Internationale Wirtschaft Folie 2

3 Agenda 1. Some theory Professur für BWL, insb. Internationale Wirtschaft Folie 3

4 Normative vs. positive theory of regulation Normative theory: provides advice when to regulate Market failure in the case of a natural monopoly, external effects, public goods (non-rivalry, non-excludability) maximization of rents as policy objectives for state intervention BUT: theory does not always explain existing regulations Positive theory: explains the existence of regulations Market for regulation demand exists which politicians answer with a supply of regulations favouring an organized minority, or interest group Capture theory: bureaucrats are sooner or later captured by the industry they are supposed to monitor BUT: Does not explain deregulation Professur für BWL, insb. Internationale Wirtschaft Folie 4

5 Deregulation: further aspects to consider Deregulation as a result of changes within a system: Internal political forces change (BECKER, PELTZMAN) North: relative changes in prizes induce change due to demographic change, change in the stock of knowledge, and change in technology. Deregulation due to external forces: Market aspects (internationalisation of companies, location tournaments and the role of positive demonstration effect of deregulations taking place somewhere else in the world, financial crisis of public sector) Technological dimension (creating competition through new technology, e.g. telecommunication market, leading to pressure for political changes) Political environment (international agreements, e.g. WTO, EU) Professur für BWL, insb. Internationale Wirtschaft Folie 5

6 Agenda 2. The National Market for Electricity in the Member States Professur für BWL, insb. Internationale Wirtschaft Folie 6

7 Agenda 1. Some theory 2. The National Markets for Electricity 2.1. Why regulate the market for electricity? 2.2. Why deregulate the market for electricity? 2.3. Transitions in Network Industries 2.4. The European Electricity Market before Integration Efforts (until 1998) 3. EU Liberalization Policy 4. Conclusion Professur für BWL, insb. Internationale Wirtschaft Folie 7

8 2.1. Why Regulate the Market for Electricity? Network industry: Division of supply side into four parts: generation, transmission, distribution, supply Non-competitive segment: High-voltage transmission and local electricity distribution Natural monopoly Government intervention needed to prevent market failure Competitive segment: Electricity generation and supply How to combine potentially competitive industry segments with monopolistic ones? Professur für BWL, insb. Internationale Wirtschaft Folie 8

9 2.1. Why Regulate the Market for Electricity? Market Structure of Electricity Professur für BWL, insb. Internationale Wirtschaft Folie 9

10 2.2. Why Deregulate the Market for Electricity? Objectives of EU Energy policy electricity important part Create an internal market in the energy field Increase efficiency in production, transmission, distribution and supply of electricity Reduce prices for consumers and introduce higher standards of service By means of increased competition elimination of price differentials among countries and regions redistribution of existing monopoly rents Thereby reinforce security of supply and the competitiveness of the European economy.. and respect environmental protection Professur für BWL, insb. Internationale Wirtschaft Folie 10

11 2.3. Transitions in Network Industries From Vertically integrated monopolies Public investment Central control Least cost Regulated prices Economies of scale at the energy supply level Hands-on supervision To Unbundled competitive systems Private investment Decentralised market Least risk Market prices Economies of mass production of standardised, modular technologies (equipment manufacturing level) Arms-length regulation Professur für BWL, insb. Internationale Wirtschaft Folie 11

12 2.4. The European Electricity Market before Integration Efforts (until 1998) Segmented national markets Only voluntary exchange in cross-border relations National markets with specific historically grown structures: Different degrees of market openness Big differences among countries Example: Early liberalization in Britain, EdF in France, hundreds of electricity companies with nine big ones in Germany Professur für BWL, insb. Internationale Wirtschaft Folie 12

13 3. EU Liberalization Policy in the Electricity Market Professur für BWL, insb. Internationale Wirtschaft Folie 13

14 Agenda 1. Some theory 2. The National Markets for Electricity 3. EU Liberalization Policy 3.1. The Beginnings (1990) 3.2. Further Steps: Directive on the Internal Market in Electricity (96/92/EC) Directive on the Internal Market in Electricity (2003/54/EC) Regulation on Cross- Border Electricity Exchanges (1228/2003) 3.3. Economic Aspects of Liberalizing the European Electricity Market 3.4. Latest Developments 4. Conclusion Professur für BWL, insb. Internationale Wirtschaft Folie 14

15 3.1. The Beginnings (1990) Directive on price transparency (90/377/EG) Aim: Make electricity prices for industrial end-users more transparent Content: Member States must ensure that gas and electricity undertakings communicate their prices to the Statistical Office of the European Communities Directive on electricity transit (90/547/EG) Aim: Increase opportunities for transfers of electricity by facilitating the transit between high- voltage grids Content: Contracts for transit must be negotiated between the entities responsible for the grids concerned Conditions of transit must comply with the principle of free movement, without endangering security of supply and quality of service Professur für BWL, insb. Internationale Wirtschaft Folie 15

16 3.2. Further Steps Directive 96/92/EC Directive on the Internal Market in Electricity 96/92/ EC (to be effective in 1999) Aim: Establishing an internal market in electricity Ensuring the free movement of electricity Improving security of supply Improving the competitiveness of the European economy and the welfare of the European citizens Establishment of common rules for the generation, transmission, and distribution of electricity Professur für BWL, insb. Internationale Wirtschaft Folie 16

17 3.2 Directive 96/92/EC - Content Generation Authorization procedure: - Criteria are set up by the Member States and must be objective and non-discriminatory - Applications which are conform with the criteria should be authorized Tendering procedure: - Member States set up an inventory of the need for future generating capacity - Selection has to follow objective, transparent, and nondiscriminatory criteria - Independent authority shall carry out organisation, monitoring and control of the procedure Professur für BWL, insb. Internationale Wirtschaft Folie 17

18 Transmission 3.2 Directive 96/92/EC - Content Transport of electricity on the high-voltage systems Independent transmission system operator (TSO) has to ensure non-discrimination in system use between the incumbent and new entrants TSO is responsible for dispatching the generating installations in its area and for determining the use of interconnectors with other systems Criteria for the dispatching must be objective and nondiscriminatory (but: for environmental reasons priority can be given to electricity from renewables) Professur für BWL, insb. Internationale Wirtschaft Folie 18

19 Distribution 3.2 Directive 96/92/EC - Content Transport of electricity on the medium-voltage and low-voltage interconnected systems Independent distribution system operator (DSO) is responsible for maintaining a secure, reliable and efficient electricity distribution system in its area DSO must not discriminate between the system users Member States may impose on distribution companies a public service obligation Professur für BWL, insb. Internationale Wirtschaft Folie 19

20 Unbundling 3.2 Directive 96/92/EC - Content Aimed at avoiding discrimination, cross-subsidization and distortion of competition Integrated companies are obliged to unbundle their different business activities Different possibilities left to the Member States: Proprietary separation of the monopoly activities from the competitive ones: ownership Creation of different companies under a common holding: legal Accounting separation Professur für BWL, insb. Internationale Wirtschaft Folie 20

21 3.2 Directive 96/92/EC - Content Access to the network Negotiated Third Party Access Producers and consumers place supply contracts directly with each other Access and prices are negotiated with the operator Indicative prices must be published by the system operators Independent body for the settlement of disputes is to be established by the Member States Operator may refuse access in case of lack of capacity Professur für BWL, insb. Internationale Wirtschaft Folie 21

22 3.2 Directive 96/92/EC - Content Regulated Third Party Access Producer and consumer place supply contracts directly with each other Prices cannot be negotiated Eligible customers have a right of access on the basis of published tariffs Independent body for the settlement of disputes is to be established by the Member States Single Buyer Responsible of guaranteeing the supply of electricity to the single buyer, on the basis of supply contracts Publishes a non-discriminatory tariff for the use of the transmission and the distribution system Professur für BWL, insb. Internationale Wirtschaft Folie 22

23 3.2 Directive 96/92/EC - Content Market opening Happens gradually By Feb0 3: 33% market opening for customers with a consumption of > 9 GWh Member States are allowed to go for further, including complete liberalization At the latest from 1 July 2007, all Europeans to become eligible Professur für BWL, insb. Internationale Wirtschaft Folie 23

24 3.2 Directive 96/92/EC - Outcome Directive implementation through national plans: common approach but significant heterogeneity Problem: Successful creation of an environment allowing for access of new entrants BUT: no competitive environment as no reduction in the incumbent market shares As design of market organization rules has been less effective Effects on consumer s switching and on final prices in most countries rather limited Professur für BWL, insb. Internationale Wirtschaft Folie 24

25 3.2 Directive - Implementation by Member States (2002) Professur für BWL, insb. Internationale Wirtschaft Folie 25

26 3.2 Main Providers and their Market Shares in the National Markets (2003) Source: Benchmark Report, European Commission (2003) Professur für BWL, insb. Internationale Wirtschaft Folie 26

27 3.2 Directive 96/92/EC- Remaining Problems Permitted liberalization options too diverging in outcome Transmission capacities are not sufficient to create a single market Several markets exist with different prices Available interconnector capacity and cross border transmission pricing as key issues for the functioning of a real single market The implementation of the directive caused 15 liberalized but separated electricity markets Professur für BWL, insb. Internationale Wirtschaft Folie 27

28 3.2 Directive /54/EC Directive on the Internal Market in Electricity (2003/54/EC), to be effective from 07/04 onwards Key European legislation to establish the Internal Market Amendment to the former Directive Unbundling: minimum standard is the legal separation Third Party Access: negotiated access regime & single buyer has been abolished Each Member State has to establish a regulatory authority in charge for tariff review Monitoring of security of supply Mandatory electricity labeling for fuel mix and for some emission and waste data Professur für BWL, insb. Internationale Wirtschaft Folie 28

29 3.2 Regulation 1228/2003 Regulation on Cross-Border Electricity Exchanges (1228/2003) Aims at encouraging cross-border transactions Establishes common rules for the cross-border trade A regulatory committee will decide on guidelines on compensation of transit flows, on harmonisation of national transmission tariffs and on allocation of cross-border interconnection capacity Professur für BWL, insb. Internationale Wirtschaft Folie 29

30 3.2 Regulation 1228/2003 European Regulators Group Set up in 11/03 as an advisory group of independent national regulatory authorities to assist the Commission in consolidating the Internal Market for electricity and gas Tasks: Facilitate the completion of the internal energy market Help ensure a consistent application in all Member States Provide a transparent platform for co-operation between national regulatory authorities and between these authorities and the Commission Professur für BWL, insb. Internationale Wirtschaft Folie 30

31 3.2 Directive - Market Opening Basic Data (2005) Professur für BWL, insb. Internationale Wirtschaft Folie 31 Source: EC, Report 2005

32 3.3 Economic Aspects of Liberalizing the European Electricity Market Total market share of the biggest three producers (electricity) Source: EC (2005) Report on Progress in Creating the internal gas and electricity market Professur für BWL, insb. Internationale Wirtschaft Folie 32

33 3.3 Economic Aspects of Liberalizing the European Electricity Market Customer Response Customers switching providers in the electricity market. Source: EC (2005) Report on Progress in Creating the internal gas and electricity market Professur für BWL, insb. Internationale Wirtschaft Folie 33

34 3.3 Economic Aspects of Liberalizing the European Electricity Market Mergers and Acquisitions - Examples: Germany: Mergers of large power suppliers reduced competition 4 market leaders (RWE, Eon, Vattenfall and ENBW) (80% of plants capacity ) Eon tries to buyout the Spanish energy provider Endesa, Spanish competitor Gas Natural makes an offer as well Buyout is approved by European Commmision without condition Spanish governments passes law to favour a merger between Endesa and Gas Natural(both Spanish) which is not allowed by EC due to threat for competition Professur für BWL, insb. Internationale Wirtschaft Folie 34

35 3.3 Economic Aspects of Liberalizing the European Electricity Market France: EdF dominates the electricity market in France Very difficult for European providers to expand to France Italian Energy provider Enel is interested in buying out the French Energy Provider Suez Merger planned between Energy providers Suez and Gaz de France to prevent buyout by Italien Enel, establish second biggest Energy provider in Europe by merger Professur für BWL, insb. Internationale Wirtschaft Folie 35

36 3.3 Key Players: Top 12 European Power Companies (2005) Professur für BWL, insb. Internationale Wirtschaft Folie 36

37 3.3 Key Players -Presence of largest companies in selected individual member states Source: EC, Report 2005 Professur für BWL, insb. Internationale Wirtschaft Folie 37

38 3.3 Price Development - Wholesale prices have lately been strongly increasing, but converging in some regional markets (e.g. Nordic) - but only small amounts are traded normally: longer term fixed price contracts between generators and suppliers - Prices for industrial end users, which include network costs and a retail supply margin, have not converged - For larger end-users, prices converge across EU price range: 40-55/MWh - Moderate industrial users: price range 40-80/MWh - Small commercial group: price range /MWh - Prices for priv. consumers, which include network costs and a retail supply margin, have even less converged - Price reductions achieved by some countries (Austria: industrial, Italy: private) Professur für BWL, insb. Internationale Wirtschaft Folie 38

39 3.3 Price Development - Electricity (Industrial consumers) 0,1 0,09 0,08 0,07 0,06 0,05 0,04 0,03 0,02 0,01 0 Average electricity prices for industrial consumers in /kwh (VAT and energy tax excluded) Belgien Deutschland Griechenland Spanien Frankreich Irland Italien Luxemburg Ungarn Malta Niederlande Portugal Finnland Schweden UK Norwegen Source: Eurostat Professur für BWL, insb. Internationale Wirtschaft Folie 39

40 3.3 Price Development - Electricity (Domestic Consumers) 0,18 0,16 0,14 0,12 0,1 0,08 0,06 0,04 0,02 0 Average electricity prices for private consumers in /kwh (VAT and energy tax excluded) Belgien Deutschland Griechenland Spanien Frankreich Irland Italien Luxemburg Niederlande Portugal Finnland Schweden UK Norwegen Source: Eurostat Professur für BWL, insb. Internationale Wirtschaft Folie 40

41 3.3 Missing electricity links and price differences in internal market Source: EC (2005) Report on Progress in Creating the internal gas and electricity market, whole sale Professur für BWL, insb. Internationale Wirtschaft Folie 41

42 3.4. Latest developments Directive 2005/89/EC Directive on the security of electricity supply and infrastructure investment Proposal follows the power cuts in Italy in 2003 Set up an internal framework within which member-states will define general policies on the security of electricity supply compatible with the requirements of a competitive single market for electricity Aims Safeguarding the security of electricity supply Ensure the proper functioning of the EU s internal market for electricity Investment in transportation networks Establish ability to cope with growing demand Professur für BWL, insb. Internationale Wirtschaft Folie 42

43 4. Conclusions and Future Perspectives Professur für BWL, insb. Internationale Wirtschaft Folie 43

44 Agenda 1. Some theory 2. The National Markets for Electricity 3. EU Liberalization Policy 4. Conclusion 4.1. Remaining Problems 4.2. Future Perspectives Professur für BWL, insb. Internationale Wirtschaft Folie 44

45 4.1 Remaining Problems Existing infrastructure for cross border exchange is not utilized to its maximum possible extent/ congestion at border Market structure: markets are still dominated by one or two companies, insufficient degree of price transparency Companies are not fully unbundled Long term purchase arrangements still exist Professur für BWL, insb. Internationale Wirtschaft Folie 45

46 4.2. Future Perspectives Effects of the amendments of the regulatory framework remain uncertain An ongoing process of M&As in Europe will lead to a small group of dominant players issue of concentration is the most important obstacle to the development of more vigorous competition Development of interconnection among markets regional markets are only in their infancy, EU integrated market? Development of energy market consistent with the Community`s sustainablility objectives Growing demand needs more investment in generation Professur für BWL, insb. Internationale Wirtschaft Folie 46

47 4.2 April 06: EU Commission takes legal action on 17 member countries! Countries: Austria, Belgium, the Czech Republic, Germany, Estonia, Spain, Finland, France, Greece, Ireland, Italy, Lithuania, Latvia, Poland, Sweden, Slovakia and the United Kingdom will be receiving letters of formal notice Spain and Luxembourg to the Court of Justice for failure to send it their national implementing measures. Issue price discrimination to the benefit of historical customers; lack of legal unbundling & managerial separation between electricity and gas TSO & DSOs preferential access to networks for historical customers lack of free choice of supplier insufficient independence/ competence granted to national regulators, in particular to set tariffs for network access Professur für BWL, insb. Internationale Wirtschaft Folie 47

Industry Example: The European Market for Gas

Industry Example: The European Market for Gas Industry Example: The European Market for Gas Professur für BWL, insb. Internationale Wirtschaft Folie 1 Agenda 1. Characteristics of the gas market 2. The National Markets for gas 3. EU Liberalization

More information

Electricity and natural gas price statistics 1

Electricity and natural gas price statistics 1 Electricity and natural gas price statistics 1 Source: Statistics Explained (http://epp.eurostat.ec.europa.eu/statistics_explained/) - 21/11/2011-09:11:44 Electricity and natural gas price statistics Data

More information

Status Review of End-User Price Regulation as of 1 January 2010 Ref: E10-CEM-34-03 8 September 2010

Status Review of End-User Price Regulation as of 1 January 2010 Ref: E10-CEM-34-03 8 September 2010 Status Review of End-User Price Regulation as of January 00 Ref: E0-CEM-34-03 8 September 00 Council of European Energy Regulators ASBL 8 rue le Titien, 000 Bruxelles Arrondissement judiciaire de Bruxelles

More information

Competition in EU Electricity Markets The Role of Antitrust Policy

Competition in EU Electricity Markets The Role of Antitrust Policy Presentation at SNF-SESSA Conference, Bergen, March 4th, 2005. Competition in EU Electricity Markets The Role of Antitrust Policy Miguel de la Mano Member of the Chief Economist Team, DG Competition (*)

More information

Price setting in the electricity markets within the EU single market

Price setting in the electricity markets within the EU single market PricesettingintheelectricitymarketswithintheEUsingle market AreportbyEASACtotheCommitteeonIndustry,ResearchandEnergyoftheEuropean Parliament February2006 Forfurtherinformation: FionaSteiger EASACSecretariat

More information

A GLANCE AT THE EUROPEAN ENERGY MARKET LIBERALIZATION

A GLANCE AT THE EUROPEAN ENERGY MARKET LIBERALIZATION A GLANCE AT THE EUROPEAN ENERGY MARKET LIBERALIZATION Delia Vasilica Rotaru * Abstract: This paper offers a presentation on the liberalization process on the energy markets that started two decades ago

More information

Status review on end-user price regulation

Status review on end-user price regulation Status review on end-user price regulation Ref: E07-CPR-08-04 14-JUNE-2007 European Regulators Group for Electricity and Gas Contact: Council of European Energy Regulators ASBL 28 rue le Titien, 1000 Bruxelles

More information

The European Union Gas and Electricity Directives

The European Union Gas and Electricity Directives 1 The European Union Gas and Electricity Directives by Steve Thomas September 2005 Funded by: EPSU 2 1. INTRODUCTION 8 2. THE DIRECTIVES 9 2.1. THE 1996 ELECTRICITY DIRECTIVE 9 2.1.1. Generation 9 2.1.2.

More information

Electricity, Gas and Water: The European Market Report 2014

Electricity, Gas and Water: The European Market Report 2014 Brochure More information from http://www.researchandmarkets.com/reports/2876228/ Electricity, Gas and Water: The European Market Report 2014 Description: The combined European annual demand for electricity,

More information

Poland must fully transpose the Third Energy Package Directives without further delay to liberalise the electricity and gas markets.

Poland must fully transpose the Third Energy Package Directives without further delay to liberalise the electricity and gas markets. Poland Key Issues + With regard to electricity, coal is still the main source of fuel for power generation. Poland's generating capacity is ageing, and the country needs better incentives for investment

More information

Primary law in the light of market analysis experiences, best practice and recommendations

Primary law in the light of market analysis experiences, best practice and recommendations Primary law in the light of market analysis experiences, best practice and recommendations Workshop on carrying out relevant market analysis following new EC Recommendation 4-5 June 2009 Emily O Reilly

More information

Report: Electricity retail markets in Europe division of duties between suppliers and DSOs

Report: Electricity retail markets in Europe division of duties between suppliers and DSOs LAPPEENRANTA UNIVERSITY OF TECHNOLOGY LAPPEENRANTA UNIVERSITY OF TECHNOLOGY ELECTRICAL ENGINEERING Report: Electricity retail markets in Europe division of duties between suppliers and DSOs M.Sc. Salla

More information

EUF STATISTICS. 31 December 2013

EUF STATISTICS. 31 December 2013 . ESTIMATES OF EU TURNOVER VOLUMES. Turnover volumes by product, allocation and notification (Estimates of EU s, Millions of ) Estimate of the EU % on Turnover Significance of the sample on total turnover

More information

Power Generation Market Concentration in Europe 1996-2004. An Empirical Analysis.

Power Generation Market Concentration in Europe 1996-2004. An Empirical Analysis. 2005-012-en Power Generation Market Concentration in Europe 1996-2004. An Empirical Analysis. Berlin, September 2005 Dr. Felix Chr. Matthes Sabine Poetzsch Katherina Grashoff Öko-Institut e.v. Berlin Office

More information

The Legal Helpdesk. Rules on grid access and priority dispatch for renewable energy in Europe

The Legal Helpdesk. Rules on grid access and priority dispatch for renewable energy in Europe The Legal Helpdesk Rules on grid access and priority dispatch for renewable energy in Europe Dr. Dörte Fouquet, Rechtsanwältin, Partner, BBH Jana Viktoria Nysten, LL.M., Advocaat, Attorney at law, BBH

More information

Review of European Electricity Prices

Review of European Electricity Prices On behalf of Union of the Electricity Industry EURELECTRIC Final Report Prepared by KEMA Consulting GmbH Bonn, Germany Disclaimer This report is based on empirical evidence and provides facts and observations

More information

Directive 2009/72/EC of 13 July 2009 concerning common rules for the internal market in electricity and repealing Directive 2003/54/EC

Directive 2009/72/EC of 13 July 2009 concerning common rules for the internal market in electricity and repealing Directive 2003/54/EC Directive 2009/72/EC of 13 July 2009 concerning common rules for the internal market in electricity and repealing Directive 2003/54/EC Incorporated and adapted by Ministerial Council Decision 2011/02/MC-EnC

More information

Regulatory Review and Barriers for the Electricity Supply System for Distributed Generation in EU-15

Regulatory Review and Barriers for the Electricity Supply System for Distributed Generation in EU-15 1 Regulatory Review and Barriers for the Electricity Supply System for Distributed Generation in EU-15 S. Ropenus, and K. Skytte, Risø National Laboratory Abstract When distributed electricity supply surpasses

More information

IS ENERGY IN ESTONIA CHEAP OR EXPENSIVE?

IS ENERGY IN ESTONIA CHEAP OR EXPENSIVE? IS ENERGY IN ESTONIA CHEAP OR EXPENSIVE? Rita Raudjärv, Ljudmilla Kuskova Energy is a resource without which it is hard to imagine life in today's world. People seem to take it for granted that energy

More information

WP1 Task 1 The Drivers of Electricity Demand and Supply

WP1 Task 1 The Drivers of Electricity Demand and Supply PROJECT NO 518294 SES6 CASES COST ASSESSMENT OF SUSTAINABLE ENERGY SYSTEMS Observatoire Méditerranéen de l Energie WP1 Task 1 The Drivers of Electricity Demand and Supply Version April 2007 1. Drivers

More information

Renewable Energy Certificate systems in Europe (the path to international trade)

Renewable Energy Certificate systems in Europe (the path to international trade) Renewable Energy Certificate systems in Europe (the path to international trade) Marcel Galjee Board member RECS International Athens, March 31 st 2004 Outline of the presentation About RECS RECS International

More information

National Report 2014 to the Agency for the Cooperation of Energy Regulators and to the European Commission

National Report 2014 to the Agency for the Cooperation of Energy Regulators and to the European Commission Ref: 1602/601/2014 10.7.2014 National Report 2014 to the Agency for the Cooperation of Energy Regulators and to the European Commission Finland National Report 2014 - Energy Authority, Finland 1 CONTENT

More information

Germany. Key issues. 1. General overview

Germany. Key issues. 1. General overview Germany Key issues High volumes of renewables have changed the way the electricity market in Germany operates. In 2012 direct marketing increased, in particular in onshore wind, due to a change of the

More information

Ad-Hoc Query on residence permits cards and stickers. Requested by SE EMN NCP on 9 th April Compilation produced on 2 nd June 2014

Ad-Hoc Query on residence permits cards and stickers. Requested by SE EMN NCP on 9 th April Compilation produced on 2 nd June 2014 Ad-Hoc Query on residence permits cards and stickers Requested by SE EMN NCP on 9 th April 2014 Compilation produced on 2 nd June 2014 Responses from Austria, Belgium, Bulgaria, Czech Republic, Estonia,

More information

Definition of Public Interest Entities (PIEs) in Europe

Definition of Public Interest Entities (PIEs) in Europe Definition of Public Interest Entities (PIEs) in Europe FEE Survey October 2014 This document has been prepared by FEE to the best of its knowledge and ability to ensure that it is accurate and complete.

More information

Answers to the Green Paper Towards an integrated European market for card, internet and mobile payments

Answers to the Green Paper Towards an integrated European market for card, internet and mobile payments Answers to the Green Paper Towards an integrated European market for card, internet and mobile payments Ad 4.1.1. (MIFs) Figure 1. Interchange fees in card payments in Europe (2011). Visa Poland Germany

More information

European Distribution System Operators for Smart Grids

European Distribution System Operators for Smart Grids European Distribution System Operators for Smart Grids Response to the European Commission s public consultation on a new energy market design October 2015 Executive summary The European Distribution System

More information

Market analysis on Factoring in EU 25+2

Market analysis on Factoring in EU 25+2 EIF Project "Jeremie" General Report on Factoring 1 Market analysis on Factoring in EU 25+2 prepared by International Factors Group (IFG) for European Investment Fund (EIF) project JEREMIE Preliminary

More information

The European Electronic Communications Regulation and Markets 11 th Report Frequently Asked Questions

The European Electronic Communications Regulation and Markets 11 th Report Frequently Asked Questions MEMO/06/84 Brussels, 20 February 2006 The European Electronic Communications Regulation and Markets 11 th Report Frequently Asked Questions What is the EU regulatory framework for electronic communications?

More information

PV GRID. Efficient Grid Integration of European PV: Project Results. Jörg Mayer, Managing Director German Solar Industry Association (BSW-Solar)

PV GRID. Efficient Grid Integration of European PV: Project Results. Jörg Mayer, Managing Director German Solar Industry Association (BSW-Solar) PV GRID Efficient Grid Integration of European PV: Project Results Jörg Mayer, Managing Director German Solar Industry Association (BSW-Solar) 16th September 2014 1 PV GRID Key facts An Intelligent Energy

More information

National Report 2015 to the Agency for the Cooperation of Energy Regulators and to the European Commission

National Report 2015 to the Agency for the Cooperation of Energy Regulators and to the European Commission Ref: 1842/601/2015 10.7.2015 National Report 2015 to the Agency for the Cooperation of Energy Regulators and to the European Commission Finland National Report 2015 - Energy Authority, Finland 1 CONTENT

More information

AGENDA ITEM IV: EU CITIZEN'S RIGHTS

AGENDA ITEM IV: EU CITIZEN'S RIGHTS SCREENING CHAPTER 23 Country Session: 4.1. THE RIGHT TO VOTE AND STAND FOR EP ELECTIONS Voting in diplomatic missions in Turkey is not prohibited by the Turkish legislation. Foreigners may cast their votes

More information

Database Grundtvig courses. January 2011 December 2012

Database Grundtvig courses. January 2011 December 2012 Database Grundtvig courses January 2011 December 2012 1. Totals courses Courses aimed at participants receiving: 10 1057 A grant for either Comenius or Grundtvig target groups (COM+GRU) 28% 299 A Grundtvig

More information

DIRECTIVE 2009/72/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

DIRECTIVE 2009/72/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL 14.8.2009 Official Journal of the European Union L 211/55 DIRECTIVES DIRECTIVE 2009/72/EC OF THE EUROPEAN PARLIAMT AND OF THE COUNCIL of 13 July 2009 concerning common rules for the internal market in

More information

- Assessment of the application by Member States of European Union VAT provisions with particular relevance to the Mini One Stop Shop (MOSS) -

- Assessment of the application by Member States of European Union VAT provisions with particular relevance to the Mini One Stop Shop (MOSS) - - Assessment of the application by Member States of European Union VAT provisions with particular relevance to the Mini One Stop Shop (MOSS) - BACKGROUND The information available on this website relates

More information

The Economics of Regulated Prices: mapping the issue

The Economics of Regulated Prices: mapping the issue The Economics of Regulated Prices: mapping the issue Catherine Waddams Centre for Competition Policy, University of East Anglia & Centre on Regulation in Europe CREG Annual Conference, Brussels, 28 th

More information

ENERGY ADVISORY COMMITTEE. Electricity Market Review: Market Power

ENERGY ADVISORY COMMITTEE. Electricity Market Review: Market Power ENERGY ADVISORY COMMITTEE Electricity Market Review: Market Power The Issue To review the range of practices in assessing and mitigating market power in the electricity supply industry, and to consider

More information

Competition in Mobile Communications and the Allocation of Scarce Resources: The Case of UMTS. Jörn Kruse

Competition in Mobile Communications and the Allocation of Scarce Resources: The Case of UMTS. Jörn Kruse EU DG Competition Economic Advisory Group Telecommunications Competition in Mobile Communications and the Allocation of Scarce Resources: The Case of UMTS Jörn Kruse 1 Prof. Dr. Jörn Kruse, Universität

More information

This document (E09-CEM-26-04) is an ERGEG status review of the definitions of vulnerable customer, default supplier and supplier of last resort.

This document (E09-CEM-26-04) is an ERGEG status review of the definitions of vulnerable customer, default supplier and supplier of last resort. Status review of the definitions of vulnerable customer, default supplier and supplier of last resort Ref: E09-CEM-26-04 16 July 2009 European Regulators Group for Electricity and Gas Contact: Council

More information

European best practice regarding to the licensing in the energy sector

European best practice regarding to the licensing in the energy sector 99333 EU- INOGATE programme, project Support to Energy Market Integration and Sustainable Energy in the NIS (SEMISE) European best practice regarding to the licensing in the energy sector The content of

More information

EU Competition Law. Article 101 and Article 102. January 2010. Contents

EU Competition Law. Article 101 and Article 102. January 2010. Contents EU Competition Law January 2010 Contents Article 101 The requirements of Article 101(1) Exemptions under Article 101(3) Article 102 Dominant position Abuse of a dominant position Procedural issues Competition

More information

Towards a Single Market for Occupational Pensions Without Tax Obstacles

Towards a Single Market for Occupational Pensions Without Tax Obstacles Towards a Single Market for Occupational Pensions Without Tax Obstacles May 25 9:00 AM 9:45 AM Peter Schonewille, European Commission, DG TAXUD/E/3 Competence Centre for Pension Research, University of

More information

TRADING PLATFORM CLEARING AND SETTLEMENT MEMBERSHIP

TRADING PLATFORM CLEARING AND SETTLEMENT MEMBERSHIP TRADING PLATFORM CLEARING AND SETTLEMENT MEMBERSHIP TRADING PLATFORM Wilhelm Söderström, Nord Pool Spot Ante Mikulić, CROPEX European day ahead market A fair and transparent calculation of dayahead power

More information

Hungary s labour market indicators continue to improve

Hungary s labour market indicators continue to improve Hungary s labour market indicators continue to improve Employment rate higher again in Hungary According to the latest data, the positive trend regarding growth in the number of people in employment has

More information

DIFFERENT LAWS IN DIFFERENT COUNTRIES

DIFFERENT LAWS IN DIFFERENT COUNTRIES DIFFERENT LAWS IN DIFFERENT COUNTRIES 1. Belgium 2. Croatia 3. Cyprus 4. Czech Republic 5. Denmark 6. Finland 7. France 8. Germany 9. Greece 10. Hungary 11. Iceland 12. Ireland 13. Isle of Man 14. Italy

More information

Panel: How broadband policy can contribute to deploy secured and universal broadband access. Presentation:

Panel: How broadband policy can contribute to deploy secured and universal broadband access. Presentation: Panel: How broadband policy can contribute to deploy secured and universal broadband access Presentation: Initiatives to deploy broadband access in Europe Erik BOHLIN Chalmers University of Technology,

More information

Introduction. The Price Comparison Project

Introduction. The Price Comparison Project Price Research, Price Differences in Europe Products of H&M, Zara, C&A and Body Shop May 2009 Executed by the European Consumer Centres Network (ECC-Net) Introduction The European Consumer Centre Network

More information

Implementation of EC Good Practice Guidance for Billing ERGEG Status Review Ref: E10-CEM-36-03 8 September 2010

Implementation of EC Good Practice Guidance for Billing ERGEG Status Review Ref: E10-CEM-36-03 8 September 2010 Implementation of EC Good Practice Guidance for Billing ERGEG Status Review Ref: E10-CEM-36-03 8 September 2010 Council of European Energy Regulators ASBL 28 rue le Titien, 1000 Bruxelles Arrondissement

More information

The energy industry and energy price issues in Slovakia during recent years 1

The energy industry and energy price issues in Slovakia during recent years 1 The energy industry and energy price issues in Slovakia during recent years 1 Ing. Mikulá Cár, PhD. National Bank of Slovakia The energy industry and energy prices are becoming a subject of political decisions

More information

INTERNATIONAL TRACKED POSTAGE SERVICE

INTERNATIONAL TRACKED POSTAGE SERVICE INTERNATIONAL TRACKED POSTAGE SERVICE Index Expanding Internationally...03 The Post NL Service...04 How it works... 05 Post NL Rates...06 Transit times...07 Customer Service...08 Expanding Internationally

More information

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU

Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU 92/2015-27 May 2015 Energy prices in the EU Household electricity prices in the EU rose by 2.9% in 2014 Gas prices up by 2.0% in the EU In the European Union (EU), household electricity prices 1 rose by

More information

EXECUTIVE SUMMARY. Measuring money laundering at continental level: The first steps towards a European ambition. January 2011 EUROPEAN COMMISSION

EXECUTIVE SUMMARY. Measuring money laundering at continental level: The first steps towards a European ambition. January 2011 EUROPEAN COMMISSION MONEY LAUNDERING IN EUROPE Measuring money laundering at continental level: The first steps towards a European ambition EXECUTIVE SUMMARY January 2011 EUROPEAN COMMISSION DG HOME AFFAIRS FIGHT AGAINST

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students who want to take a full Masters level

More information

Single Euro Payments Area

Single Euro Payments Area Single Euro Payments Area Overview SEPA (Single Euro Payments Area) is a European payments initiative which aims to create one single, integrated, standardised payments market in Europe. It is an area

More information

Slovakia. Key issues. 1. General overview

Slovakia. Key issues. 1. General overview Slovakia Key issues Slovakia should enhance the independence of national regulatory authority and ensure its accountability. Slovakia should promote a regulatory framework conducive to investment in and

More information

Status Review on Regulatory Aspects of Smart Metering (Electricity and Gas) as of May 2009 Ref: E09-RMF-17-03 19 October 2009

Status Review on Regulatory Aspects of Smart Metering (Electricity and Gas) as of May 2009 Ref: E09-RMF-17-03 19 October 2009 Status Review on Regulatory Aspects of Smart Metering (Electricity and Gas) as of May 2009 Ref: E09-RMF-17-03 19 October 2009 European Regulators Group for Electricity and Gas Contact: Council of European

More information

Regulated Energy Prices in the Energy Community State of Play and Recommendations for Reform

Regulated Energy Prices in the Energy Community State of Play and Recommendations for Reform Regulated Energy Prices in the Energy Community State of Play and Recommendations for Reform A Report by the Energy Community Secretariat 25 May 2012 1. Introduction According to the Energy Community Treaty,

More information

Power market integration. Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS

Power market integration. Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS Power market integration Geir-Arne Mo Team Lead Nordic Spot Trading Bergen Energi AS 1 Geir-Arne Mo Some background information: Working for Bergen Energi since 2015 Team Lead Nordic Spot Trading I work

More information

The Nordic Electricity Exchange and The Nordic Model for a Liberalized Electricity Market

The Nordic Electricity Exchange and The Nordic Model for a Liberalized Electricity Market The Nordic Electricity Exchange and The Nordic Model for a Liberalized Electricity Market 1 The market When the electricity market is liberalized, electricity becomes a commodity like, for instance, grain

More information

Organic Agriculture in Europe What does the future bring?

Organic Agriculture in Europe What does the future bring? Organic Agriculture in Europe What does the future bring? The organic market in Europe Status quo, perspectives and challenges Organic Market in Europe Contents Current situation Perspectives until 2005

More information

FEDERATION EUROPEENNE DE LA MANUTENTION Product Group. industrial trucks. A brief guide for identification of noncompliant. - Exhaust Emission -

FEDERATION EUROPEENNE DE LA MANUTENTION Product Group. industrial trucks. A brief guide for identification of noncompliant. - Exhaust Emission - FEDERATION EUROPEENNE DE LA MANUTENTION Product Group Industrial Trucks FEM A brief guide for identification of noncompliant industrial trucks 11.2010 (E) - Exhaust Emission - I n d e x 1 Introduction...

More information

Potential for Renewable Energies in Italy and Europe a comparison.

Potential for Renewable Energies in Italy and Europe a comparison. Stephan Franz Potential for Renewable Energies in Italy and Europe a comparison. April 21, 2010 Hannover 1 Outline. 1. Introduction: About the German Energy Agency (dena). 2. The Italian Renewable Energy

More information

REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL

REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL EUROPEAN COMMISSION Brussels, 25.9.2014 COM(2014) 592 final REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL on the implementation in the period from 4 December 2011 until 31 December

More information

I. GENERAL FUNCTIONING OF THE RETAIL MARKET AND CONSUMER PARTICIPATION

I. GENERAL FUNCTIONING OF THE RETAIL MARKET AND CONSUMER PARTICIPATION Response to European Commission s Public Consultation on Retail Markets 16 April 2014 INFORMATION ABOUT THE RESPONDENTS Are you responding to this questionnaire on behalf of/as: Public Authority On behalf

More information

The Community Innovation Survey 2010 (CIS 2010)

The Community Innovation Survey 2010 (CIS 2010) The Community Innovation Survey 2010 (CIS 2010) THE HARMONISED SURVEY QUESTIONNAIRE The Community Innovation Survey 2010 FINAL VERSION July 9, 2010 This survey collects information on your enterprise s

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students who want to take a full Master's-level

More information

Regulatory aspects of Energy Investment Conditions in European Countries

Regulatory aspects of Energy Investment Conditions in European Countries CEER Memo on Regulatory aspects of Energy Investment Conditions in European Countries Ref: C14-IRB-23-03a 27-April-2015 Council of European Energy Regulators asbl Cours Saint-Michel 30a, Box F 1040 Brussels,

More information

Lessons and Insights from

Lessons and Insights from Lessons and Insights from Germany Workshop Strategies to Acchieve Pro-Poor Growth in Brazil, China, India and Europe Dr. Rita Nikolai, Junior Research Group Education and Transitions into the Labour Market

More information

LEGAL BASIS COMMON RULES

LEGAL BASIS COMMON RULES THE EUROPEAN PARLIAMENT: ELECTORAL PROCEDURES The procedures for electing the European Parliament are governed both by European legislation defining rules common to all Member States and by specific national

More information

Facts: Population Baldwin & Wyplosz 2006

Facts: Population Baldwin & Wyplosz 2006 Facts: Population Facts: Population 6 big nations: > 35 million (Germany, the UK, France, Italy, Spain and Poland). Netherlands: 16 million people. 8 small nations (size of a big city): 8 to 11 million:

More information

A new electricity market for Northern Ireland and Ireland from 2016 - Integrated Single Electricity Market (I-SEM)

A new electricity market for Northern Ireland and Ireland from 2016 - Integrated Single Electricity Market (I-SEM) A new electricity market for Northern Ireland and Ireland from 2016 - Integrated Single Electricity Market (I-SEM) Non-technical summary High level design Draft Decision Paper SEM -14-047 June 2014 1 INTRODUCTION

More information

Homeopathic and anthroposophic medicinal products. A thriving European tradition

Homeopathic and anthroposophic medicinal products. A thriving European tradition Homeopathic and anthroposophic medicinal products A thriving European tradition A THRIVING EUROPEAN TRADITION Sales of homeopathic and anthroposophic medicinal products per inhabitant (in relation to GDP

More information

COMMUNICATION FROM THE COMMISSION

COMMUNICATION FROM THE COMMISSION EUROPEAN COMMISSION Brussels, 17.9.2014 C(2014) 6767 final COMMUNICATION FROM THE COMMISSION Updating of data used to calculate lump sum and penalty payments to be proposed by the Commission to the Court

More information

What is the European Union? A unique economic and political partnership between 27 democratic European countries. What are its aims?

What is the European Union? A unique economic and political partnership between 27 democratic European countries. What are its aims? What is the European Union? A unique economic and political partnership between 27 democratic European countries. What are its aims? Peace, prosperity and freedom for its 495 million citizens in a fairer,

More information

SEPA - Frequently Asked Questions

SEPA - Frequently Asked Questions SEPA - Frequently Asked Questions Contents SEPA Overview Questions... 2 What is SEPA?... 2 What is the aim of SEPA?... 3 Where did SEPA come from?... 3 What countries are included in SEPA?... 3 What currencies

More information

Mutual Insurance in Figures. Executive summary from the 2007 study produced by AMICE s predecessor association, AISAM

Mutual Insurance in Figures. Executive summary from the 2007 study produced by AMICE s predecessor association, AISAM Mutual Insurance in Figures Executive summary from the 2007 study produced by AMICE s predecessor association, AISAM Disclaimer AISAM 2007 all rights reserved The entire content of this AISAM-statistics

More information

Principles for application of international reference pricing systems

Principles for application of international reference pricing systems Principles for application of international reference pricing systems International reference pricing (IRP) is a widely used element of price regulation in the vast majority of EU and EFTA countries. While

More information

1. Perception of the Bancruptcy System... 2. 2. Perception of In-court Reorganisation... 4

1. Perception of the Bancruptcy System... 2. 2. Perception of In-court Reorganisation... 4 Bankruptcy Systems and In-court Reorganisation of Firms, 2010 Content: 1. Perception of the Bancruptcy System... 2 2. Perception of In-court Reorganisation... 4 3. Perception of Creditor Committees, Fast

More information

LAW OF UKRAINE On the natural gas market This Law defines legal fundamentals of the functioning of the natural gas market in Ukraine founded on

LAW OF UKRAINE On the natural gas market This Law defines legal fundamentals of the functioning of the natural gas market in Ukraine founded on LAW OF UKRAINE On the natural gas market This Law defines legal fundamentals of the functioning of the natural gas market in Ukraine founded on principles of free competition, due protection of consumers

More information

FUSIONS Food waste data set for EU-28. New Estimates and Environmental Impact

FUSIONS Food waste data set for EU-28. New Estimates and Environmental Impact FUSIONS Food waste data set for EU-28 New Estimates and Environmental Impact 15 October 2015 Food waste is an issue of importance to global food security and good environmental governance, directly linked

More information

Trends in electricity prices and their relation to the competitiveness and efficiency in EU countries

Trends in electricity prices and their relation to the competitiveness and efficiency in EU countries International Conference on Renewable Energies and Power Quality (ICREPQ 15) La Coruña (Spain), 25 th to 27 th March, 2015 exçxãtuäx XÇxÜzç tçw céãxü dâtä àç ]ÉâÜÇtÄ(RE&PQJ) ISSN 2172-038 X, No. 13, April

More information

Electricity & Gas Prices in Ireland. 2 nd Semester (July December) 2013

Electricity & Gas Prices in Ireland. 2 nd Semester (July December) 2013 Electricity & Gas Prices in Ireland 2 nd Semester (July December) 2013 ENERGY POLICY STATISTICAL SUPPORT UNIT Electricity & Gas Prices in Ireland 2 nd Semester (July December) 2013 Report prepared by Martin

More information

ERASMUS+ MASTER LOANS

ERASMUS+ MASTER LOANS Ref. Ares(2015)660570-17/02/2015 ERASMUS+ MASTER LOANS Erasmus+ Master Loan: opening up access to more affordable lending for cross-border studies The Erasmus+ programme makes it possible for students

More information

Case No COMP/M.7228 - CENTRICA/ BORD GAIS ENERGY

Case No COMP/M.7228 - CENTRICA/ BORD GAIS ENERGY EN Case No COMP/M.7228 - CENTRICA/ BORD GAIS ENERGY Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 13/06/2014 In electronic

More information

Broadband and i2010: The importance of dynamic competition to market growth

Broadband and i2010: The importance of dynamic competition to market growth Broadband and i2010: The importance of dynamic competition to market growth Richard Cadman & Chris Dineen 21 February 2005 Strategy and Policy Consultants Network Ltd Chapel House Booton Norwich NR10 4PE

More information

PUBLIC CONSULTATION ON POSTAL SERVICES

PUBLIC CONSULTATION ON POSTAL SERVICES EUROPEAN COMMISSION PUBLIC CONSULTATION ON POSTAL SERVICES PART 2 CONSULTATION ENDS JAN 27 2006 NOV 2005 V1.9 Page 1 of 9 PART 2 CONSULTATION ON POSTAL SERVICES Part 2 asks more detailed questions on a

More information

Planned Healthcare in Europe for Lothian residents

Planned Healthcare in Europe for Lothian residents Planned Healthcare in Europe for Lothian residents Introduction This leaflet explains what funding you may be entitled to if you normally live in Lothian (Edinburgh, West Lothian, Midlothian and East Lothian

More information

Options for the future structure of the German electricity transmission grid

Options for the future structure of the German electricity transmission grid Options for the future structure of the German electricity transmission grid SHORT VERSION OF THE FINAL REPORT FOR BMWI March 2009 Frontier Economics Ltd, London. i Frontier Economics March 2009 Short

More information

ACER scoping document for Rules for Trading

ACER scoping document for Rules for Trading ENTSOG response to ACER questionnaire on scoping for Rules for 12 May 2014 Final ACER scoping document for Rules for ENTSOG response to the ACER questionnaire Since some of the questions are addressed

More information

Minimum Wage Protection Current German and European Debates

Minimum Wage Protection Current German and European Debates Årskonferanse i Fafo Østforum Fire år etter EU-utvidelsen: Status og framtidsperspektiver Oslo, 3 June 2008 Minimum Wage Protection Current German and European Debates Thorsten Schulten Wirtschafts- und

More information

BENCHMARKING OF APPROVED HIGHER RATIOS 2014 DATA

BENCHMARKING OF APPROVED HIGHER RATIOS 2014 DATA BENCHMARKING OF APPROVED HIGHER RATIOS 2014 DATA Benchmarking of approved higher ratios Benchmarking of approved higher ratios under Article 94(1)(g)(ii) of Directive 2013/36/EU 3 Introduction and legal

More information

Trends and projections in Europe 2013

Trends and projections in Europe 2013 EEA Report No 10/2013 Tracking progress towards Europe's climate and energy targets until 2020 Executive summary ISSN 1725-9177 Executive summary This 2013 edition of the annual EEA 'Trends and projections'

More information

Operational Companies VAT Indirect Taxes. Why Luxembourg: VAT advantages for commercial companies*

Operational Companies VAT Indirect Taxes. Why Luxembourg: VAT advantages for commercial companies* Operational Companies VAT Indirect Taxes Why : VAT advantages for commercial companies* Why : VAT advantages for commercial companies as an international decision-making, financing or distribution hub:

More information

CENTRAL BANK OF CYPRUS

CENTRAL BANK OF CYPRUS APPENDIX 2 NOTIFICATION BY A BANK INCORPORATED IN CYPRUS, WHICH WISHES TO PROVIDE SERVICES, ON A CROSS BORDER BASIS, IN OTHER EUROPEAN UNION (E.U.) MEMBER STATES IN ACCORDANCE WITH ARTICLE (28) OF THE

More information

Consultation on the future of European Insolvency Law

Consultation on the future of European Insolvency Law Consultation on the future of European Insolvency Law The Commission has put the revision of the Insolvency Regulation in its Work Programme for 2012. The revision is one of the measures in the field of

More information

10TH EDITION MERGER CONTROL VADEMECUM FILING THRESHOLDS AND CLEARANCE CONDITIONS IN THE 29 EUROPEAN JURISDICTIONS

10TH EDITION MERGER CONTROL VADEMECUM FILING THRESHOLDS AND CLEARANCE CONDITIONS IN THE 29 EUROPEAN JURISDICTIONS 10TH EDITION MERGER CONTROL VADEMECUM FILING THRESHOLDS AND CLEARANCE CONDITIONS IN THE 29 EUROPEAN JURISDICTIONS 2 www.morganlewis.de This vademecum is as of February 2016 and provides initial guidance

More information

EU Data Protection Directive and U.S. Safe Harbor Framework: An Employer Update. By Stephen H. LaCount, Esq.

EU Data Protection Directive and U.S. Safe Harbor Framework: An Employer Update. By Stephen H. LaCount, Esq. EU Data Protection Directive and U.S. Safe Harbor Framework: An Employer Update By Stephen H. LaCount, Esq. Overview The European Union Data Protection Directive 95/46/EC ( Directive ) went effective in

More information

Poland. Key issues. General overview

Poland. Key issues. General overview Poland Key issues Although important improvements have been made to modernise Polish energy infrastructure, significant investments are still needed to ensure a sustainable supply of energy, reduce the

More information

Primary Gas Buyers Move Upstream - Impact on the Gas Trade

Primary Gas Buyers Move Upstream - Impact on the Gas Trade Primary Gas Buyers Move Upstream - Impact on the Gas Trade Nicolas Brizard Consultant, Global Insight European Fuel Price Conference 8 th & 9 th December 2004 Le Meridien Hotel Piccadilly, London Gas Competitor

More information

RETAIL FINANCIAL SERVICES

RETAIL FINANCIAL SERVICES Special Eurobarometer 373 RETAIL FINANCIAL SERVICES REPORT Fieldwork: September 211 Publication: March 212 This survey has been requested by Directorate-General Internal Market and Services and co-ordinated

More information