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Energy Investment Regularion Conference 2008, Budapest


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European Union (Directives)



Summary of the EU Electricity Directive

The Electricity directive 2003/54/EC is the key European legislation to establish the Internal Market of Electricity. This Directive establishes common rules for the generation, transmission and distribution of electricity. It lays down the rules relating to the organization and functioning of the electricity sector, access to the market, the criteria and procedures applicable to calls for tenders and the granting of authorizations and the operation of systems.


Summary of the EU Gas Directive

The Gas directive 2003/55/EC is the key European legislation to establish the Internal Market of Gas. The Directive establishes common rules on the storage, transmission, supply and distribution of natural gas. It lays down detailed rules on the organization and functioning of the natural gas sector, including liquefied natural gas (LNG), biogas and gas from biomass and other types of gas. The new Directive also regulates market access, the criteria and procedures that apply to the granting of licenses for the transmission, storage, distribution and supply of natural gas, and the operation of systems.


Other Legislation


Energy Community Treaty

The Energy Community Treaty was signed in Athens on October 25, 2005 and entered into force on July 1, 2006. Signing of the Treaty means that European Union and nine partners of South East Europe - Croatia, Bosnia and Herzegovina, Serbia, Montenegro, the Former Yugoslav Republic of Macedonia, Albania, Romania, Bulgaria and UNMIK Kosovo will create the legal framework for an integrated energy market.


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