The European energy regulators have been working together for many years to promote regional cooperation and the integration of energy markets. The Regional Initiatives (RIs), launched by the European Regulators Group for Electricity and Gas (ERGEG) in 2006, aimed at bringing together national regulatory authorities (NRAs), transmission system operators (TSOs) and other stakeholders in a voluntary process to advance integration at the regional level as a step towards the creation of a well-functioning Internal Energy Market (IEM).
The RIs represent a bottom-up approach to the completion of the IEM: they bring all market participants together to test solutions for cross-border issues, carry out early implementation of the EU acquis, and develop successful pilot projects that can be exported to other regions.
Europe’s regulators’ vision for the gas energy market is summarised by the Gas Target Model (GTM). Proposed by CEER in 2011, and endorsed by the Madrid Forum in 2012, the GTM was updated in 2015. Taking stock of the experience, the revised GTM specifies in a refined way the steps required to realise liquid and dynamic gas markets, enabling European consumers to benefit from secure gas supplies and effective retail competition.
In parallel with this renewed common vision for a target model, the Agency has developed, in cooperation with stakeholders, a new approach for RIs: a project-oriented approach, stronger stakeholders’ involvement, and adequate governance structure.
Agency for the Cooperation
of the Energy Regulators
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© Agency for the Cooperation of Energy Regulators, 2012.