The energy system has been changing in the past decades and continues its transition journey towards more renewables, flexibility, new technologies and a much more active customer. This requires policy-makers, regulators and network operators to think of the next steps and to update existing legislation while pursuing the implementation of the agreed upon goals.
The Third Package has delivered. It delivered a more integrated wholesale market, defined ACER and the ENTSOs and pushed NRAs and TSOs to work more closely together.
It saw network codes elaborated in close interaction with stakeholders, the first of which are now adopted.
This policy paper summarises ENTSO-E’s assessment of the effectiveness of the current regulatory governance since the Third Package and shares recommendations for update in view of the forthcoming legislative changes in 2016. Our recommendations address the time frame up to 2020.
The paper is based on a five-month iterative process with ENTSO-E members, stakeholders, regulators and policy-makers through a series of Chatham House workshops. It is structured as follows: The introductory paragraph describes better regulation paradigms and the value-added of voluntary cooperation. It emphasises the implementation imperative, addresses the changing roles of ACER and ENTSO-E, and highlights regulatory gaps occurring in markets, regional cooperation, and security of electricity supply. Here, the main regulatory recommendations of the other papers are summarised in view of inspiring both forthcoming legislation and voluntary actions.