Sectors

Compliance and Regulation Law Glossary

Asymmetry is a key concept of regulation. Indeed, a competitive market works well when operators are in symmetrical relationships, ie there is no structural obstacle which prevents an agent from increasing his power solely on his merits (" competition by merits "). If there is an asymmetry, for example because a sector is monopolistic and the legislator has just declared it open to competition, there is a temporary asymmetry between the installed companies, the incumbent operators and the willing companies to enter this new market, the "new entrants". Historical operators, such as in the telecommunications or energy sector, when they were opened to competition by European directives, transposed by national laws (in french Law in 1996 for telecommunications and gas, in 2000 for electricity), benefit (sometimes referred to as grandfather clause), in particular because they have all the clients or all the know-how or all the patents, and that, in fact, the competitors can not enter the market. It is then necessary to establish a regulator also a priori temporary itself  to establish to forceps the competition, by an asymmetrical regulation.
 
Asymmetric regulation, particularly applied in Great Britain at the time of the liberalization of the aforementioned sectors, means that the regulator will systematically favor new entrants, for example by dispossessing the incumbents for their benefit to make them on the market. Today, in the telecommunications sector, competition, notably on mobiles, is established, but the regulator does not intend to leave its place to disappear and today supports "symmetric regulation" .... Instead, it acts as a specialized competition authority.
 
Asymmetry may not be temporary but definitive, when inequality between operators, regardless of merit, does not come from a context of liberalization but from a structural failure of the market. For example, there are transport networks, transport of passengers or goods, railways or airstrip for airplanes, data or voice communication networks, pipes where gas or electricity circulate, etc., which belong to a single operator because they constitute economically natural monopolies. Under these conditions, the competitors of the monopoly must nevertheless have fair and effective access to this service and a regulator must necessarily be established for the effectiveness of that right (see Access).
 
Moreover, the Nobel Prize of Joseph Stiglitz (2001) was justified by his work on the asymmetry of information on certain markets, in particular the financial markets on which companies offer securities. Through the theory of the agency, it appears that the ordinary partners or ordinary investors have less information than the managers, even though the latter have the function of making decisions that bring the most to the former. But information asymmetry offers managers an "information rent" that allows them to offer many benefits and transfer risks to others. Regulators, in particular banking and financial regulators, are needed to combat information asymmetry. Transparency is one of the procedural means to combat this asymmetry. The financial and banking crisis of 2008 showed the extent of this asymmetry and, in fact, the inability of regulators to remedy it, for example, the British government estimated in 2010 that it was the financial regulator itself that was responsible for the crisis for not having sufficiently watched over conflicts of interest. In general, the global financial crisis was often later characterized as a crisis of regulators and regulation.
 
 

Jan. 18, 2016

Compliance and Regulation Law Glossary

Dec. 2, 2015

Compliance and Regulation Law Glossary

March 7, 2015

Bibliographic Reports : Books

It is often argued that energy because it is a matter of sovereignty and because it is rooted in the territory, returns to the State. But it is resolutely towards Europe that Michel Derdevet pulls the whole system.

Probably by conviction, by will of a strong Europe and because there has economic power only when propped on energy. However, an energy system that is up by networks as in energy, we never doubted the convergence between the container and the content, meaning that the energy source is irrelevant whitout being carried, whitout being 'provided to users.

This construction of the networks is political and it is in terms of "mesh" that the report Michel Derdevet just submitted to the President of the Republic, François Hollande, presents a European project. In a way, it is not "revolutionary", as it is to finally fulfill the will of those who conceived Europe in 1945 through the coal, steel and energy, to a common Europe from which built the industry, not only for the reconstruction of Europe but for its economic dynamism and its common security policy.

In this, the European network of the transportation of electricity is essential. Yet it is to be done because the legislation of the European Union rather liberalized energy markets whitout building Europe of energy, leaving remaining national specificities. The result is what Michel Derdevet rightly called "inertia".

He therefore proposes the establishment of an "European industrial project." In this context, Michel Derdevet requires better definition of "model of norms and regulation", aiming in particular the structure of tariffs that include or not the R & D according to the Member States, claiming the alignment of the tasks of network operators and a price guarantee for users, which would facilitate investment. He stressed that national regulatory differences hinder the development of smart grids (and therefore the European market). Without a convergence of regulations, interoperability is not optimal, as it would allow Europe to be a major global player in energy.

Michel Derdevet therefore advocates regulation that goes to both a stronger European articulation, but at the same time which must be more "decentralized", for users to make better use of new uses of energy through the action of regulators they are close.

It is true that we are very far off ...

This is why the author asks what one favors "regulatory convergence". This is not only to harmonize rules but also to redirect them to detach the competitive prism to direct them to the long-term financing.

It is true that Europe's energy, without which a single industrial space can hardly be, can not actually do if the regulation does not resolutely takes over the principle of competition, competition remaining in the moment of exchange, while the Regulation is in the long term and what to take to designate as "industrial policy" which is nothing but a form of expression of the Political.

So what Michel Derdevet request, what ever that finally the arrival of a political Europe, the need for it finds its place in the global competition.

Feb. 17, 2015

Translated Summaries : 05. Energie

In regulatory law, municipalities are very important, as consumers but also as issuers standards. They can do this through contracts but also by unilateral standards such orders.

This power of municipalities is coming to a halt by the decision taken 17 February 2015 by the Supreme Court of the State of Ohio,, State of Ohio ex rel. Jack Morrison Jr., Law Director for City of Munroe Falls, Ohio v. Beck Energy Corp.

Indeed, a municipal law had made provisions for imposing rules on location, drilling and well operations and gas. These provisions were contrary to the law of the State of Ohio.

In its judgment of 17 February 2015, the state Supreme Court considers that this is enough to make the first non-compliant text of the Constitution because it is not possible for a local authority to exercise normative power by contradicting a state standard.

The stakes are certainly legal and lies in the implementation of the hierarchy of norms. But it is also political: in energy, due to the power of the operators, which is most likely not to be captured by the sector? The political power of the state or the political power of municipalities?

As suggested by one of the judges, must be taken into consideration which of the two powers depends most operators in the financing of campaigns.

Factual and determinant consideration, specific element of the US, an element which Kelsen couldn't think .....

Jan. 22, 2015

Sectorial Analysis

A simple question:  be regulator, is it a profession?

As soon as one asks the question, it should be down. Indeed, the time has passed when the regulator was a natural person. Today, in most cases, the regulator takes the form of a Regulatory Authority, that is to say an entity with or without legal personality, incorporated in the State or professional.

Individuals appear as a member of the Authority, even if it is true that the President of the Regulatory Authority often has a very importan role!footnote-17.

The choice of Commissioners is crucial to the independence and effectiveness of the regulatory authority. It is appropriate that the person has "authority" over the area, must be respected and participates effectively in the collective action of the College.

Let us try to recall the two sets of criteria to determine how one thinks the "good regulator" before taking such case the appointment of Mr. Yann Padova as a new member of the College of the Commission de Régulation de l'Énergie (French Energy Regulatory Commission).

Jan. 8, 2015

Breaking news

The French law provides that the Commission de Régulation de l'Énergie - CRE (French Regulatory Energy Commission) publishes an annual report on compliance with codes of conduct and independence of the power transmission grid operators. In Decembre 2014, CRE has published its report on compliance with codes of conduct and independence of electricity networks and natural gas (Respect des codes de bonne conduite et indépendance des gestionnaires de réseaux d'électricité et de gaz naturel).

This particular statutory provision shows the proximity between Regulation and Governance, nearby sometimes believed limited to the sphere of banking and finance.

This is designed especially for managers of transport networks which are often subsidiaries of incumbents production and energy sales, economic and legal integration that the law does not prohibit even though it requires independence transport network managers. This independence must be de facto and not de jure, which is a higher requirement than mere legal autonomy of companies, the result of the requirements of "governance", the operator is obliged not to exercise the rights and powers its parent company status yet gives a regular basis so that the first principle of independence of the network manager is preserved.

The relationship between the controlling shareholder and its subsidiary are governed by "codes of conduct" in the mandatory order of the independence of management and decision making of the subsidiary. In a 90-page reportthe regulator sets the constraints so that this goal leads in effect on the parent company, beyond corporate law.

However, the regulator is very severe. It believes that the way in which subsidiaries present themselves to consumers mark such similarity with their parent that these third parties can't identify them as independent of them. According to the regulator, consumers therefore don't identify them as carriers or distributors of energy also offered by competitors of their parent.

Thus, the regulator considers it necessary that these subsidiaries will change their brands, logos and legal designation, eg ERDF ceases to have a name so close to EDF.

The implicit question is the legal effect of such reproaches and suggestions, if the companies aren't listening. The report discusses the prospect to bring the question before their independent body able to impose sanctions. But the case will be difficult because the principle of independence meets the principle of freedom and the terms of the interference between regulatory law and corporate law aren't yet clearly established.

Updated: Sept. 25, 2012 (Initial publication: Sept. 25, 2012)

Thesaurus : Doctrine

Les Nouvelles régulations électriques

Updated: Sept. 25, 2012 (Initial publication: July 15, 2012)

Sectorial Analysis

ENGLISH

In Belgium, the Flemish Region had adopted the Decree of 23 December 2010 to exemp  those providing electricity with a renewable source to pay the rate of injection into the electricity transmission network. The Region stated that it was not an act tariff, thus falling under its jurisdiction. The decree, attacked by the energy regulator before the Belgium Constitutional Court, was canceled by the latter in a ruling dated July 12, 2012, because it is an act of pricing, under the only federal competence.

 

FRENCH

En Belgique, la Région flamande avait adopté le décret du 23 décembre 2010 pour exempter les producteurs d'électricité ayant pour source une énergie renouvelable du payement dû au titre de l'injection de l'électricité dans le réseau de distribution. La Région posait qu'il ne s'agit pas d'un acte de tarification, et que cela relevait donc de sa compétence régionnale. Ce décret, attaché par le Régulateur de l'Energie devant la Cour Constitutionnelle de Belgique, a été annulé par celle-ci dans une décision en date du 12 juillet 2012, parce qu'il s'agit bien d'un acte touchant à la tarification, pour laquelle seul des organes fédéraux sont compétents.

 

Updated: Sept. 25, 2012 (Initial publication: July 11, 2012)

Sectorial Analysis

 

ENGLISH

 After suspending the freeze of gas prices for consumers, the "Conseil d’Etat" (French Council of State) in a judgment of 10 July 2012, cancels the freeze, as it constitutes an error of law, because it shows that the Government has not incorporated or offset procurement costs borne by the public service provider.

 

FRENCH

Après avoir suspendu le gel des tarifs gaiers pour les consommateurs, le Conseil d’Etat, dans un arrêt du 10 juillet 2012, a annulé l’arrêté qui avait imposé ce gel, en ce qu’il constitue un erreur de droit, parce qu’il montre que le Gouvernement n’avait pas incorporé ou offert de compenser les coûts supportés par le fournisseur de service public.

Updated: Sept. 25, 2012 (Initial publication: June 9, 2012)

Sectorial Analysis

TRANSLATED SUMMARIES


ENGLISH

In France, the Minister of Ecology has issued an Order to facilitate the purchase of electricity generated by wind. The text is being challenged before the "Conseil d’Etat" (State Council) for illegality, in that it constitutes state aid. The State Council considers the matter serious enough to suspend the proceeding and seized the Court of Justice of the European Union of a preliminary question on 15 May 2012.


FRENCH

En France, le ministre de l’Ecologie a émis une ordonnance afin de faciliter l’achat de l’électricité produite par le vent. Le texte est actuellement contestée devant le «Conseil d’Etat" (Conseil d’Etat) pour cause d’illégalité, en ce qu’elle constitue une aide d’Etat. Le Conseil d’Etat considère que l’affaire suffisamment grave pour suspendre la procédure et saisi la Cour de justice de l’Union européenne d’une question préjudicielle le 15 mai 2012.

Updated: Sept. 25, 2012 (Initial publication: April 11, 2012)

Sectorial Analysis

Translated summaries

The translated summaries are done by the Editors and not by the Authors.

ENGLISH

The 12th General Assembly of the Association of Mediterranean Regulators for Electricity and Gas (MEDREG) was held at the headquarters of the Greek Regulatory Authority of Energy (RAE), on 14 December 2011. On this occasion, members of MEDREG have approved the initial proposals made by the Task Force devoted to investments in energy infrastructure, aiming to stimulate investment in the Mediterranean region. The MEDRED also exercises regulatory powers similar to those of ACER.

FRENCH

La 12ème Assemblée Générale de l’Association des Régulateurs Méditerranéens de l’Electricité et du Gaz (MEDREG) s’est tenue au siège de l’Autorité grecque de Régulation de l’Energie (RAE), le 14 décembre 2011. A cette occasion, les membres de MEDREG ont approuvé les premières propositions émises par la Task Force consacrée aux investissements dans les infrastructures énergétiques, ayant pour objectif de stimuler les investissements dans la région de la Méditerranée. La MEDRED exerce en outre des pouvoirs de régulation analogues à ceux de l’ACER.


Other translations forthcoming.

Updated: Sept. 25, 2012 (Initial publication: Jan. 13, 2012)

Sectorial Analysis

Main information

On December 20, 2011, the European Commission adopted a decision based on the Almark ruling that expounds upon the four conditions necessary so that compensation paid by a State to any state-owned or private company entrusted with the operation of a public service not require prior notification of the European Commission, despite the general prohibition on State Aids. Each state has a wide margin of discretion in the definition of services that could be classified as being services of general economic interest. A communication and de minimis regulation will complete this decision.

Updated: Sept. 25, 2012 (Initial publication: Jan. 4, 2012)

Sectorial Analysis

Translated Summaries

In The Journal of Regulation the summaries’ translation are done by the Editors and not by the authors


ENGLISH

On November 28, 2011, the French Council of State issued a summary judgment suspending the Government price freeze on household natural gas prices because the ‘price scissors’ effect it had was harming competition, and because no superior legal norm justified the freeze.

 


FRENCH

Le 28 Novembre 2011, le Conseil d’Etat a rendu une Ordonnance de référé, suspendant le gel des prix du gouvernement concernant les prix domestiques du gaz naturel, car l’effet de «ciseaux des prix"  avait pour effet de nuire à la concurrence, et parce qu’il n’existe pas de norme juridique supérieure justifiait ce gel des tarifs par un décret.

 


SPANISH

El 28 de noviembre de 2011, el Consejo de Estado francés emitió una orden judicial de congelación del precio del gobierno sobre los precios internos del gas natural, porque el efecto del "precio de tijeras" efecto fue el de perjudicar a la competencia, y porque no existe una norma legal que justifica el congelamiento de las tarifas por decreto.



ITALIAN

Il 28 novembre 2011, il Consiglio di stato francese ha reso una sentenza sommaria in cui ordina la sospensione de gelo dei prezzi del gas naturale per le famiglie, previsto precedentemente dal governo, l’effetto “forbice prezzi” causato da tale decisione stava causando danni alla libera concorrenza e poiché tale decisione di gelare i prezzi non era fondata su nessuna norma legale superiore.



SPANISH

El 28 de noviembre del 2011, el Conseil d’Etat (Consejo de Estado de Francia) decidió que la prohibición de los OGM establecido por varias decretos ministeriales en diciembre 2007 y febrero 2008 no son válidos. La razón principal detrás de esta decisión es la falta de prueba suficiente dada por el gobierno francés que los OGM representan una gran amenaza a la salud pública y el ambiente. No obstante, los Ministros de Agricultura y Ambiente declararon el 13 de enero 2012 que esta misma prohibición será adoptada.



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Other translation forthcoming.

Updated: Sept. 25, 2012 (Initial publication: Dec. 5, 2011)

Sectorial Analysis

Translated Summaries

In The Journal of Regulation the summaries’ translation are done by the Editors and not by the authors


ENGLISH

The European Commission issued a reasoned opinion on November 24th, 2011, to France and the Czech Republic demanding that those countries modify their legislation in order to comply with European regulation on renewable energies. If the modifications are not implemented in the upcoming two months, the Commission will open a case before the European Court of Justice.


FRENCH

La Commission européenne a émis un avis motivé le 24 Novembre 2011, concernantla France et la République tchèque, exigeant que ces pays modifient leur législation afin de se conformer à la réglementation européenne sur les énergies renouvelables. Si les modifications ne sont pas mises en œuvre dans les deux prochains mois, la Commission ouvrira une procédure devant la Cour de justice de l’Union européenne



ITALIAN

Il 24 novembre 2011, la Commissione europea ha emesso una raccomandazione con cui richiede alla Francia ed alla Repubblica Ceca di modificare le proprie legislazioni in modo tale da conformarle alla regolamentazione europea in materia di energia rinnovabile. Se le modifiche non saranno introdotte entro i prossimi due mesi, la Commissione adirà la Corte di Giustizia Europea.


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Other translations forthcoming.


Updated: Sept. 25, 2012 (Initial publication: Oct. 7, 2011)

Sectorial Analysis

Translated Summaries

In The Journal of Regulation the summaries’ translation are done by the Editors and not by the authors



ENGLISH

Thematic Report (Energy): The French energy regulator publishes its first unfavorable opinion regarding the government’s proposed natural gas tariffs for residential customers.

The Commission de Régulation de l’Energie (CRE — French energy regulator) published an opinion “regarding the draft executive order regarding the regulated tariffs for natural gas publicly distributed by GDF Suez.” This non-binding opinion was published on September 29, 2011, and claims that it is not acceptable for the Government to leave natural gas prices unchanged because these prices do not cover GDF Suez’s costs and symmetrically prevent newcomers from competing with it.



ITALIAN

Relazione tematica (Energia): L’autorità di regolazione francese nel settore dell’energia ha reso pubblica il suo primo parere sfavorevole a proposito delle tariffe del gaz proposte dal governo per le utenze residenziali


La Commission de Régulation de l’Energie (CRE – l’autorità francese di regolazione nel settore dell’energia) ha reso pubblico un parare « riguardante la bozza di proposte di tariffe per il gaz naturale distribuito da GDF Suez ». Questo parere non vincolante è stato pubblicato il 29 settembre 2011 e afferma che non è possibile per il Governo di lasciare immutati i prezzi del gas naturale poiché questi prezzi non coprono i costi di GDF Suez e, al contempo, impedisce ai nuovi operatori di competere con tali costi.


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Other translations forthcoming.

 

 

 

 

Updated: Sept. 25, 2012 (Initial publication: July 8, 2011)

Sectorial Analysis

Main information

The technique of “effacement diffus” [diffuse effacement] is when a number of electricity consumers agree beforehand to consume less electricity at certain times (effacement), which allows other consumers to use the network at peak hours. Corporate intermediaries arrange these diffuse effacements, thereby participating in the adjustment system vital to the security of the electricity distribution network. The Commission de Régulation de l’Energie (CRE – French energy regulator) organized the system of “diffuse seffacement” even though this measure was not contained in statute. The Conseil d'Etat (French Council of State)’s Voltalis ruling, handed down on May 3, 2011, recognizes the CRE’s right to organize this system. But, it also deems that the regulator exceeded its powers by mandating that the corporate intermediaries organizing diffuse effacement remunerate the electricity provider.

Updated: Sept. 25, 2012 (Initial publication: May 9, 2011)

Sectorial Analysis

ENGLISH

On April 7, 2011, the Belgian Council of State handed down a ruling (n° 212.557) in which it overruled a decision by the Commission de Regulation de l’Electricité et du Gaz (CREG – Belgian Regulatory Commission for Electricity and Gas) to fine the City of Wavre for non-compliance with its annual reporting obligations.

GERMAN

Thematischer Bericht (Energie): Der belgische Bundesrat kippt ein von der belgischen Regulierungsbehörde für Elektrizität und Gas beschlossenes Bußgeld

Am 7. April 2011 beschließt der Belgische Bundesrat per Gerichtsentscheid (n° 212.557) die Entscheidung der Kommission für Regulierung von Elektrizität und Gas (CREG – Belgian Regulatory Commission for Electricity and Gas) umzustoßen, welche der Stadt Wavre ein Bußgeld für nicht-Einhaltung der jährlichen Berichtspflicht auferlegte.

PORTUGUESE

Informe temático (Energia): O Conselho de Estado belga anulou multas impostas pela Comissão regulatória belga para eletricidade e gás.

 

Em 7 de abril de 2011, o Conselho de Estado belga publicou julgamento (nº 212.557) no qual ele anulou uma decisão da Commission de Regulation de l’Electricité et du Gaz (CREG – Comissão regulatória belga para eletricidade e gás) em que a cidade de Wavre foi multada pelo descumprimento de suas obrigações de divulgação de informes anuais.

 

ITALIAN


Relazione tematica: Il Consiglio di Stato belga abroga la multa fatta dalla Commissione di regolazione per il gas e l’elettricità


Il 7 aprile 2011, il Consiglio di Stato belga ha reso una decisione (n° 212.557) nella quale dichiara illegittima una decisione della Commissione di regolazione del gas e delle’elettricità (CREG - Commission de régulation de l’électricité et du gaz) che aveva previsto una multa alla città di Wavre per inadempienza agli obblighi di rendiconto annuale.

 

 

Other translations forthcoming.

Updated: Sept. 25, 2012 (Initial publication: Jan. 10, 2011)

Sectorial Analysis

ENGLISH

On December 10, 2010, the Commission de Régulation de l’Energie (CRE­ – French Commission for Energy Regulation) and the Autorité des marches financiers (French Securities Regulator – the AMF) entered into a memorandum of understanding (the MoU). Cooperation between these two sector based regulators is, for the most part, set against the background of, and aims at, a better (or, rather, burgeoning) regulation of the market for CO2 emission allowances.

FRENCH

Fiche thématique (Finance, Environnement, Energie): Exécution d’un accord de coopération passé entre les régulateurs français de l’énergie et des marchés financiers concernant la régulation du marché des émissions de carbone.

Le 10 décembre 2010, la Commission de Régulation de l’Energie (CRE) ET L’Autorité des Marchés Financiers (AMF) ont signé un accord de coopération. La coopération entre ces deux régulateurs sectoriels a lieu dans un cadre plus général de réflexion sur une meilleure, voire future, régulation du marché des permis d'émission de CO2, et vise plus particulièrement ce but


GERMAN

 

Thematischer Bericht (Finanz, Umwelt, Energie):  Erfüllung eines Kooperationsvertrages zwischen den französischen Energie- und Finanzdienstleistungsaufsichtsbehörden bezüglich auf der Regulierung vom Emissionsrechtehandel.

Am 10. Dezember 2010 haben die the Commission de Régulation de l’Energie (CRE – die französische Energieregulierungsbehörde) und die Autorité des marchés financiers (AMF – die französische Finanzdienstleistungsaufsichtbehörde) eine Vereinbarung geschlossen. Die Zusammenarbeit zwischen beiden Behorden ist Teil einer breiteren Überlegung über eine bessere, sogar zukünftige Regulierung des Emissionsrechtehandels – und zielt besonders darauf.


SPANISH 

Informe temático (Finanza, Ambiente, Energía): Ejecución de un acuerdo de cooperación entre los reguladores franceses de finanza y de energía en relación a la regulación del mercado para las cuetos de emisión de gas de carbono.

 El 10 de diciembre del 2010, la Commission de Régulation de l’Energie (CRE- La Comisión francesa de la regulación de energía) y la Autorité des marchés financiers (AMF – La Autoridad francesa de los mercados financieros) entraron en un memorándum de entendimiento (MoU). La cooperación entre estos dos reguladores basados en sectores distintos, es, primordialmente, centrado sobre el trasfondo, o bien, tiene como objetivo, una mejor regulación del mercado para las cuotas de emisiones de CO2 y se centre en dos principios (…). 

ITALIAN
Relazione tematica (Finanza, Ambiente, Energia): Adempimento di un accordo in materia di cooperazione concluso tra i regolatori francesi in materia di finanza e di energia in relazione alla regolazione del mercato in materia di quote di emissione di CO2
Il 10 Dicembre 2010, la Commission de Régulation de l’Energie (CRE – la Commissione francese in materia di energia) e la Autorité des marches financiers (l’organo francese di regolazione finanziaria – la AMF) hanno concluso un memorandum of understanding (un MoU-una serie di accordi preliminari). La cooperazione tra questi due settori in materia di regolazione finanziaria é, in gran parte, punta a una regolazione migliore (o piuttosto una regolazione maggiore) del mercato delle quote di emissioni di CO2 ed è basata sui seguenti principi.

 

PORTUGUESE
Informe Temático (Finanças, Meio ambiente, Energia): Execução de um acordo de cooperação firmado pelos reguladores franceses de finanças e energia acerca da regulação do mercado de quotas para emissão de CO2.
 
A Commission de Régulation de l’Energie (CRE – Comissão francesa de regulação energética) e a Autorité des marches financiers (AMF – Autoridade francesa dos mercados financeiros) firmaram um memorando de acordo no dia 10 de dezembro de 2010. A cooperação entre estes dois reguladores de setor é, em sua maior parte, estabelecida em resposta ao contexto e orientada para uma melhor (ou, mais precisamente, para a emergente) regulação do mercado de quotas para emissão de CO2.

 

 

CHINESE
主题性报告金融能源环境: 履行法国金融业与能源管理部门达成的涉及二氧化碳限额排放交易管制的合作协定。
2010年12月10日,Commission de Régulation de l’Energie(CRE-法国能源监管委员会)与Autorité des marches financiers(AMF-法国金融市场管理局)达成了一份谅解备忘录。基于两部门间的监管合作,在极大程度上共同致力于改善或完善二氧化碳排放市场的配额管制。

Updated: Sept. 25, 2012 (Initial publication: Sept. 15, 2010)

Sectorial Analysis


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Thematic Report (Energy): The Swiss Federal Administrative Tribunal ruled on July 8th, 2010, that ElCom, the Swiss energy regulator, had overridden its powers in its decision of March 6th 2009.
In a decision of July 8th 2010, the Bundesverwaltungsgericht (the Swiss Federal Administrative Tribunal) partially amended a decision of the Eidgenössiche Elektrizitätskommission (ElCom, the Swiss Federal Electricity Commission), stating that it is unconstitutional and illegal for power-plant operators to bear the price of “system-services”.


FRENCH


Fiche thématique (énergie) : Le tribunal fédéral administratif suisse a rendu un arrêt le 8 juillet 2010 contre une décision du 6 mars 2009 de l'ElCom, le régulateur suisse de l'énergie, pour excès de pouvoir


Dans un arrêt du 8 juillet 2010, le Bundesverwaltungsgericht (le Tribunal Fédéral Administratif suisse) a partiellement annulé une décision de l'Eidgenössiche Elektrizitätskommission (ElCom, la Commission fédérale suisse de l'électricité), déclarant qu'il est anticonstitutionnel et illégal que les opérateurs des centrales électriques supportent le coût des "services systémiques"

GERMAN



Thematischer Bericht (Energie): das schweizerische Bundesverwaltungsgericht hat am 8. Juli 2010 die Verfügung der ElCom, die  Eidgenössische Elektrizitätskommission, die Schweizer Regulierungsbehörde für Elektrizität, vom 6. März 2009 für ungültig erklärt.



In einer Entscheidung vom 8. Juli 2010 hat das Schweizer Bundesverwaltungsgericht eine ElCom-Verfügung vom 6. März 2010 zum Teil für ungültig erklärt, da die in der Verordnung vorgesehene Anlastung der Systemdienstleistungskosten an die Kraftwerke gesetzeswidrig ist.


SPANISH

 

 

   Informe Temático (Energía):  El Swiss Federal Administrative Tribunal (El Tribunal administrativo federal de Suiza) dictó el 8 de julio 2010 que ElCom, el Regulador suizo de energía, había sobrepasado sus poderes en su decisión del 6 de marzo 2009.

En una decisión del 8 de julio 2010, el Bundesverwaltungsgericht (El Tribunal administrativo federal de Suiza) anuló parcialmente la decisión de   Eidgenössiche Elektrizitätskommission (ElCom, la Comisión suiza de electricidad federal) constatando que es inconstitucional e ilegal que las operadoras de centrales eléctricas soporten el precio de “servicios sistemáticos.”

 

  

 

Updated: Sept. 25, 2012 (Initial publication: June 11, 2010)

Sectorial Analysis

On May 4 and 5, 2010, European energy regulators met at Brussels within the framework of the Agency for the Cooperation of Energy Regulators (ACER), which was created by the European Union Regulation of July 13, 2009. This meeting took place in parallel to a new session of the General Assembly of the Council of European Energy Regulators (CEER — a voluntary cooperative association of independent national regulators in Europe’s energy sector).


FRENCH

Fiche thématique: L’Agence Européenne de Coopération des Régulateurs de l’Energie (ACER) s’est réunie pour la première fois les 4 et 5 mai 2010 

Les 4 et 5 mai 2010 se sont réunis à Bruxelles les régulateurs européens de l’énergie, au sein de l’Agence Européenne de Coopération des Régulateurs de l’Energie (ACER) créée par le Règlement communautaire du 13 juillet 2009. Cette réunion s’est tenue parallèlement à une nouvelle session de l’Assemblée générale du Conseil des Régulateurs Européens de l'Energie (CEER, association volontaire de coopération des régulateurs nationaux indépendants du secteur de l’énergie en Europe). 

GERMAN

Thematischer Bericht: die Agentur für die Zusammenarbeit der Energieregulierungsbehörden (AZE) hat am 4. und 5. Mai 2010 sein erstes Treffen veranstaltet.

Am 4. und 5. Mai 2010 haben die europäischen Energieregulatoren haben sich im Rahmen der Agentur für die Zusammenarbeit der Energieregulierungsbehörden (AZE) getroffen. Diese Agentur wurde von der Anordnung des Europäischen Parlaments und des Rates vom 13. Juli  2009 gegründen. Dieses Treffen fand parallell zur Sitzung der Rat der Europäischen Energieregulierungsbehörden (REE) statt.
 
GREEK
 
Θεματική Έκθεση: Ο Οργανισμός Συνεργασίας των Ρυθμιστικών Αρχών Ενέργειας συνήλθε για πρώτη φορά στις 4 και 5 Μαΐου 2010
 
Στις 4 και 5 Μαΐου 2010, οι Ευρωπαϊκές ρυθμιστικές αρχές ενέργειας συνήλθαν στις Βρυξέλλες στο πλαίσιο του Οργανισμού Συνεργασίας των Ρυθμιστικών Αρχών Ενέργειας (ACER), ο οποίος ιδρύθηκε με τον Κανονισμό της Ευρωπαϊκής Ένωσης της 13ης Ιουλίου του 2009. Η συνάντηση αυτή πραγματοποιήθηκε παράλληλα με μία νέα σύνοδο της Γενικής Συνέλευσης του Συμβουλίου των Ευρωπαϊκών Αρχών Ενέργειας (CEER- μια εθελοντική οργάνωση συνεργασίας μεταξύ των ανεξάρτητων εθνικών ρυθμιστικών αρχών του τομέα ενέργειας στην Ευρώπη).
 
 
 POLISH
 
 Karta tematyczna : Europejska Agencja Współpracy Regulatorów Rynków Energii (ACER) zebrała się po raz pierwszy 4 i 5 maja 2010 r. 
 
 W dniach 4 i 5 maja 2010 roku w Brukseli miało miejsce spotkanie europejskich regulatorów energii w ramach Europejskiej  Agencji Współpracy Regulatorów Energii (ACER) powołanej rozporzadzeniem wspólnotowym z dnia 13 lipca 2009 roku. Spotkanie to odbyło się podczas kolejnej sesji Zgromadzenia Ogólnego Rady Europejskich Regulatorów Energii (CEER, dobrowolne zrzeszenie mające na celu współpracę niezależnych regulatorów krajowych działających w europejskim sektorze energetycznym).
 
 
SPANISH
 
La Agencia de Cooperación de los Reguladores de la Energía (ACRE) se reunió por primera ver el 4 y 5 de mayo del 2010.
 
Los reguladores europeos de energía se reunieron en Bruselas el 4 y 5 de mayo del 2010 dentro del marco del la Agencia de Cooperación de los Reguladores de la Energía (ACRE), la cual fue creado por la Regulación de la Unión Europea el 13 de julio del 2009. Esta reunión se llevó a cabo junto con la sesión de la Asamblea General del “Council of European Energy Regulators (CEER – el Consejo europeo de reguladores de energía), lo cual es una asociación voluntaria cooperativa de reguladores nacionales independientes que forman parte del sector europeo de energía. 
  

Updated: Sept. 25, 2012 (Initial publication: June 3, 2010)

Sectorial Analysis

 

Provisions of the financial reform bill (Dodd Bill) currently being examined by the United States Congress would empower the Commodities Futures Trading Commission (CFTC) to implement limits on speculation on energy futures and derivatives, as well as to impose a much stricter declaratory and supervision regime for over-the-counter trades in futures and derivatives in general.
 
 
FRENCH
 
Fiche thématique (Energie, Finance) : Une disposition du projet de loi sur la réforme financière (Dodd Bill) qui est en train d’être examiné par le Congrès des Etats-Unis donnerait de façon explicite le pouvoir au {Commodities Futures Trading Commission} (CFTC — autorité de tutelle américaine des bourses de commerce) d’imposer des limites sur la spéculation sur les options énergétiques. 
 
Des dispositions du projet de loi sur la réforme financière (Dodd Bill) qui est en train d’être examine par le Congrès américain donnerait au {Commodities Futures Trading Commission} le pouvoir d’imposer des limites sur la spéculation sur les options et dérivés énergétiques, ainsi que d’imposer un régime de déclaration et de surveillance beaucoup plus exigeant sur les échanges de gré-à-gré de tous les contrats d’options et dérivés.
 
 
GERMAN
 
Thematischer Bericht (Energie, Finanz): Der Gesetzvorschlag bezüglich auf die Finanzreform (Dodd Bill), der gerade vor dem Congress steht, enthält eine Verfügung, die die Commodities Futures Trading Commission  (CFTC - die amerikanische Aufischtsbehörde für Futures- und Optionsmärkte) mit der Fähigkeit bevollmächtigen würde, die Spekulation auf energetischen Futures zu beschränken.
 
Im Gesetzvorschlag über die Finanzreform (Dodd Bill), der gerade vom Congress steht, würde der Commodities Futures Trading Commission (CFTC - die amerikanische Aufsichtsbehörde für Futures- und Optionsmärkte) dazu ermächtigen, die Spekulation auf energetischen Futures und Derivaten einzuschränken, sowie eine strengere Erklärung- und Aufsichtsregulierung für das Schaltergeschäft von Futures und Derivaten durchzuführen.
 
 
GREEK
 
Θεματική Έκθεση (Ενέργεια, Χρηματοδότηση): Διατάξεις του σχεδίου νόμου για την οικονομική μεταρρύθμιση (Dodd Bill), το οποίο εξετάζεται αυτή τη στιγμή από το Κογκρέσο των ΗΠΑ, θα ενίσχυαν την Επιτροπή Προθεσμιακών Συναλλαγών σε Εμπορεύματα (CFTC) ως προς την επιβολή ορίων στην κερδοσκοπία όσον αφορά στις θέσεις των προθεσμιακών προϊόντων ενέργειας
 
Διατάξεις του σχεδίου νόμου για την οικονομική μεταρρύθμιση (Dodd Bill), τοοποίο εξετάζεται αυτή τη στιγμή από το Κογκρέσο των ΗΠΑ θα ενδυνάμωναν την Επιτροπή Προθεσμιακών Συναλλαγών σε Εμπορεύματα ως προς την επιβολή ορίων όσον αφορά στην κερδοσκοπία για την προθεσμιακή αγορά προϊόντων ενέργειας στις θέσεις των προθεσμιακών πράξεων ενέργειας και παραγώγων. Επίσης, θα επέβαλλε ένα πολύ αυστηρότερο καθεστώς αναγνώρισης και εποπτείας για εξωχρηματιστηριακές συναλλαγές προθεσμιακών πράξεων και παραγώγων γενικότερα.

 
 POLISH
 
 Tematyczny Raport (Energia, Finanse): Projekt ustawy o reformie finansowej (Dodd Bill), obecnie badany przez amerykański Kongres, dałby wyraźną władzę Commodities Futures Trading Commission (CFTC – amerykańska komisja  nadzorcza giełd handlowych) do stosowania ograniczeń dotyczących spekulacji opcjami energetycznymi. 
 
Projekt ustawy o reformie finansowej aktualnie badany przez amerykański Kongres dałby Commodities Futures Trading Commission wyraźną władzę nakazującą stosowanie ograniczeń dotyczących spekulacji opcjami i ubocznymi produktami energetycznymi,  jak również dałby władzę narzucającą bardziej zaostrzony system deklarowania i nadzoru nad wolną wymianą opcji i produktów ubocznych. 
 
 
SPANISH

Una disposición del proyecto de ley (Dodd Bill), actualmente siendo examinado por el Congreso de los Estados Unidos, empoderaría la Commodities Futures Trading Commission (CFTC – la Comisión americana de tutelaje de las bolsas de comercio) de imponer límites futuros sobre especulación sobre los futuros de energía

Dispocisiones de la reforma financiera (Dodd Bill), que está siendo examinada por el Congreso americano, empoderaría la Commodities Futures Trading Commission (CFTC – la Comisión americana de tutelaje de las bolsas de comercio) de imponer límites sobre la especulación de opciones y derivados de energía y de imponer un régimen declarativo y de supervisión mucho más estrictos para el comercio extrabursátil en futuros y derivados en general.

Updated: Sept. 25, 2012 (Initial publication: May 21, 2010)

Sectorial Analysis

 

The European Commission conducted a competition inquiry on the competitiveness of European energy markets, because it believed that these markets functioned poorly, especially because they are insufficiently open to competition and their prices are too high. Proceedings were begun in December 2009 against E.ON, and were closed by this corporation’s May 4, 2010 legally-binding commitments to the European Commission to improve its competitors’ access to its natural gas transportation network. Access to transportation networks, which are essential facilities, is the heart of any regulatory system, and if access was not organized beforehand (ex ante), it can be arranged afterwards (ex post), as is the case in this affair, via an alliance between Competition Law and Contract Law, wherein the commitments take on the form of a sort of co-regulation (cf. infra brief summary) 


FRENCH

Par une décision du 4 mai 2010, la Commission Européenne a accepté le les engagements proposés par la société énergétique allemande E.ON d’ouvrir davantage à ses concurrents l’accès à son réseau de transport de gaz.

La commission européenne a mené en 2007 une enquête sectorielle sur le fonctionnement concurrentiel des marchés énergétiques européens en estimant que ceux-ci fonctionnent mal, notamment puisqu’ils sont peu ouverts et leurs prix trop élevés. Une procédure ouverte en décembre 2009 contre E.ON est ici close par l’engagement de celle-ci envers la commission européenne d’ouvrir à ses concurrents son réseau de transport de gaz. L’accès au réseau de transport, facilité essentielle, est le cœur du système de régulation et s’il ne se fait pas {ex ante} il peut se faire alors {ex post}, comme on le voit dans cette affaire, par une alliance entre le droit de la concurrence et le droit du contrat, l’engagement devenant une sorte de corégulation (voir infra dans le bref commentaire).

 


GERMAN

 


Die Europäische Kommission hat am 4. Mai 2010 ein Beschluss veröffentlicht, in dem sie die Zusage des deutschen Energiekonzerns E.ON, der Konkurrenz effektiven Zugang zu seinen Gasleitungen zu öffnen, für verbindlich erklärt.

 

Die Europäische Kommission hat eine kartellrechtliche Untersuchung im Energiesektor durchgeführt, da sie die europäischen Energiemärkte für ineffizient hielt, vor allem aufgrund mangelnden Wettbewerbs und zu hohen Preisen.  Mit dem Beschluss vom 4. Mai 2010 werden die von E.ON angebotenen Verpflichtungen, den Zugang zu den Gasnetzwerken für potentielle Konkurrenten zu öffnen, für rechtlich bindend erklärt. Zugang zu Transportnetzen, die als wesentliche Einrichtungen ({Essential Facilities}) zählen, ist zentral für jedes Regulatierungssystem. Wenn dieser Zugang nicht im Voraus ({ex ante}) organisiert ist, kann er trotzdem im Nachhinein ({ex post}) etabliert werden, wie es hier den Fall ist, durch ein Bündnis zwischen Wettbewerbsrecht und Vertragsrecht, indem das Unternehmen durch seine Verpflichtungen quasi mitregulierend wirkt (siehe unten {Brief Summary})

 

SPANISH 

 

En una decisión del 4 de mayo 2010, la Comisión Europea acepta los compromisos de la corporación alemana de energía, E.ON, para mejorar el acceso de competidores a la red de transporte del gas natural.

 

 

La Comisión Europea llevó a cabo una encuesta sectorial sobre la concurrencia en los mercados europeos de energía, ya que sea cree que estos mercados no funcionan de manera eficaz, especialmente porque no son los suficientemente abiertos a la competencia y sus precios son demasiado altos. Los trámites comenzaron en diciembre del 2009 contra la E.ON y fueron cerrados por ésta ante sus  compromisos vinculantes ante la Unión Europea del 4 de mayo 2010 de mejorar el acceso de competidores a la red de transporte de gas natural. El acceso a las redes de transporte, que son facilidades esenciales, se encuentra al centro de cualquier sistema regulatorio, y si el acceso no fue organizado anteriormente (ex ante), puede ser organizado posteriormente (ex post), como en este caso a través de un alianza entre la Ley de la Concurrencia y la Ley de Contrato, donde los compromisos actúan de manera ‘co-regulatoria’ (VER. Infra para resumen breve).

 

 

Updated: Sept. 25, 2012 (Initial publication: May 3, 2010)

Sectorial Analysis

The Commodity Futures Trading Commission (CFTC) published a proposition to regulate speculation through futures and option contracts on the over-the-counter energy market on January 26, 2010. This proposition is being challenged by the CME Group (the principal American futures market operator), which claims that the CFTC does not have a legal mandate to regulate over-the-counter trading in energy, because such action would have to be authorised by a specific law.


FRENCH

 

 

Rapport Sectoriel (Energie / Finance) : Le "CME Group" (principal opérateur de bourse de commerce aux Etats-Unis) conteste la proposition de "Commodity Futures Trading Commission — CFTC" (autorité de tutelle américaine des bourses de commerce) qui vise à réguler la spéculation sur les options et dérivés de l'énergie

La “Commodity Futures Trading Commission — CFTC” (l’autorité de tutelle américaine des bourses de commerce) publie le 26 janvier 2010 un projet visant à réguler la spéculation sur le marché de gré-à-gré énergétique. Cette proposition est vivement contestée par le CME Group (la principale bourse de commerce américaine), qui conteste que la CFTC n’est pas fondée légalement à réguler les échanges de gré-à-gré sur le marché de l’énergie, et qu’une telle compétence ne peut être accordée que par une loi spécifique.


SPANISH


El Grupo CME (operador principal de la bolsa de comercio americano)  desafía la propuesta de la “Commodity Futures Trading Commission – CTFC” (la autoridad de tutela americana de la bolsa de valores) del 26 de enero del 2010 de regular la especulación sobre energías futuras, contratos de opciones y derivados. 


La “Commodity Futures Trading Commission” - CFTC (la autoridad de tutela americana  de la bolsa de valores) publicó el día 26 de enero del 2010 una propuesta para regular la especulación sobre el mercado extrabursátil de energía a través de contratos a futuro y a opciones. Esta propuesta está siendo fuertemente refutada por el Grupo CME (el operador principal de la bolsa de valores americano) quien declara que la CFTC no tiene la competencia legal para regular las operaciones extrabursátiles de energía, ya que tal acción tendría que ser autorizada por una ley específica. 



GERMAN


Sektorialer Bericht (Energie / Finanz): Der CME Group (die Hauptwarenbörse Amerikas) hat sich gegen den Vorschlag der Commodity Futures Trading Commission (CFTC - die amerikanische Aufsichtsbehörde für Warenbörse) geäußert, die Spekulation auf außerbörslichen Energiemärkten  zu regeln.

Die Commodity Futures Trading Commission (CFTC, die amerikanische Aufsichtsbehörde für Warenbörse) hat am 26. Januar 2010 eine Entwurfsarbeit veröffentlicht, in der sie ihre Absicht erklärt, die Spekulation auf außerbörslichen  Energiemärkten  zu regeln. Dieser Entwurf wurde vom CME Group stark kritisiert. Der CME Group, die Hauptwarenbörse in den VS, behauptet, dass die CFTC keinen rechtlichen Auftrag hat, solch eine Reglung einzuführen. Erst ein spezifistiches Gesetz würde es ermöglichen können, laut der CME Group.

Updated: Sept. 10, 2012 (Initial publication: July 6, 2012)

Sectorial Analysis