Study Group: Energy / Utilities Experts: Legal, Economic, and Regulatory Affairs (Germany)

GLG News^SM Analyses by this Study Group's Leading Experts(?)

The European Commission may struggle to reflect national views on financial sector regulation

May 1, 2009

Analysis by:Peter Styles, Principal Consultant,

Analysis of:Industry attacks draft EU hedge-fund bill | www.euractiv.com

The largest EU Member States, represented directly in the G7 and/or the G20, have given the European Commission a clear mandate to propose new regulatory controls over alternative investment managers operating inside the EU. Mostly affected will be hedge, private equity and venture capital funds above a threshold size. While the Commission has produced quite clear proposals (albeit criticised from many quarters), once the new European Parliament has been elected and once the Swedish Presidency of the EU Council gets started, we will witness a battle royal among Member State governments to influence the precise legislative outcome  

Green certificates would gain value if flat rate feed-in tariffs were phased out

April 10, 2008

Analysis by:Peter Styles, Principal Consultant,

Analysis of:Incentives to Invest in Electricity Production from Renewable Energy under Different Support Schemes | www.arrhenius.de

There is another flaw in the Arrhenius argument, not mentioned in peer reviews dealing with the distinction between wholesale power market spot and future prices. The Arrhenius authors appear to assume that green certificates would be issued or required on top of the German feed-in tariff regime, rather than as an eventual complete replacement for it. Instead, any reasonable assumptions, about reform of the German regime and EU harmonisation of means of support according to market based principles, would suggest that a quota scheme should eventually replace flat rate feed-in tariffs. Enhanced value for investors could then come not from overly generous guaranteed payments but from their meeting the marginal need for certificates, valid EU wide, in those countries or on the part of those suppliers who become most "short".   

Energy shake-up or just reshuffling regulatory competences?

January 11, 2007

Analysis by:Peter Styles, Principal Consultant,

Analysis of:EU readies for battle over energy markets | www.ft.com

The European Commission has published on 10 January a set of findings and possible new measures related to the power and gas sectors. DG TREN, the part of the Commission responsible for energy policy, suggests that unbundling and regulatory controls must be strengthened as part of a new legislative package. 
 
The work of DG COMP, the antitrust arm of the Commission, and of DG TREN on their analyses has been closely coordinated.

Antitrust actions, or threats of action, combined with the proposal to introduce a third package of EU internal energy market legislation, may eventually precipitate far-reaching power and gas industry restructuring. 

 

European Commission energy review: Any short term impact?

January 5, 2007

Analysis by:Peter Styles, Principal Consultant,

Analysis of:Report to end doubts on EU energy competition | www.ft.com

The European Commission will publish a package of findings and possible new measures related to the power and gas sectors on 10 January.

The work of DG COMP and DG TREN on their analyses has been closely coordinated.

Anti-trust actions, or threats of action, combined with proposals to introduce a third package of EU internal energy market legislation, may precipitate far reaching industry restructuring.

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