ird Internal Market package marks a watershed in the EU's efforts to introduce effective liberalisation of its electricity and gas markets. A real understanding of this very complicated legislative package is vital for all energy companies operating in the EU, as well as major energy purchasers and advisors. This new and fully updated fourth edition includes in-depth contributions on common electricity and gas wholesale markets, third party access, unbundling of TSOs and DSOs, National Regulatory Authorities, ACER, regulation of crossborder electricity exchanges, Gas regulation, Retail market development and public service objectives, derogations and exemptions, common network rules, security of supply, reporting and review of the Directives, implementation and entry into force, the internal energy market and neighbouring countries and an introduction to the energy market of the US. The fourth edition of this highly acclaimed and leading title on this subject is written by the key Commission officials and practitioners.

Edited by:
Christopher Jones
Deputy Director General, DG ENER, EC

Written by:
Anthony Doherty, Senior Energy Economist, EBRD, Benedikt Ennser, Legal Department, EControl, Austria, Floris Gräper, Head of Regulation, Gas Transport Services, Erlendas Grigorovic, Financial services and antitrust matters, DG COMP, EC, Christopher Jones, Deputy Director General, DG ENER, EC, Lena Sandberg, Of Counsel, Gibson Dunn, Brussels, Jan Papsch, Policy & Legal Officer, EC, Ernst Tremmel, Wiltschek Rechtsanwälte, Wien / ACER, ERI Coordination Group, Ruben Vermeeren, DG ENER, European Commission, William Webster, Head of EU Power Market Design and Regulation, RWE Supply and Trading

Highlights

• Leading title on the subject
  
• Written by key commission officials and practitioners
  
• Describes all new Commission initiatives on IEM
  
• A ‘must have’ for all working with and in the IEM field
  

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ourth edition incorporates the numerous changes since the previous edition in 2011; including an entirely reworked section on anti-competitive agreements and practices, an update of all new merger decisions as well as abuse of dominance. Furthermore, the new edition includes a detailed update and explanation of the major developments on state aid, with the publication of new Guidelines applicable inter alia to renewable energy support schemes, introducing major reform and key decisions, such as the one on the UK Hinkley Point nuclear reactor.

Edited by

Christopher Jones

Deputy Director General, DG ENER, EC

Written by:
Leigh Hancher, Of Counsel, Allen & Overy, Amsterdam; Professor of Law, University of Tilburg, Adrien de Hauteclocque, Referendaire, General Court of the European Union (Cabinet of judge van der Woude), Christopher Jones
Deputy Director General, DG ENER, EC, Lars Kjølbye, Partner, Latham & Watkins, Brussels, Valerie Landes, Counsel, Bredin Prat, Brussels, Francesco Salerno, Senior Attorney, Cleary Gottlieb, Brussels, Lena Sandberg, Of Counsel, Gibson Dunn, Brussels

Highlights

• The new edition of this highly acclaimed publication gives a comprehensive update and analysis of European law as it affects competition in EU energy markets.
  
• Includes detailed update of major developments on state aid also applicable to renewable energy support schemes
  
• Latest key decisions such as the UK Hinkley Point nuclear reactor
  
• A “must-buy” for the competition law professional
  

cription to EEJ for one year (4 issues). You can choose to either receive this journal in paperback, digitally or both.

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style="text-decoration: underline;">Part 1: The contribution of oil to the security of energy supplies. Contrary to a widely shared perception that oil is an insecure source of energy supply, careful analysis shows that oil supply and logistics are very resilient to external shocks and potential conflict. The drive towards decarbonisation may mean that oil demand will peak before the middle of the century. The analysis covers the recent evolution of global oil production and shows how this has further reduced the impact of resource nationalism and political instability on oil exports. The logistics of oil have further improved, and preoccupations about such phenomena as piracy almost completely disappeared. Greater elasticity of oil supply relative to price is also impacting also on the functioning of the global oil market, increasing its responsiveness to demand and supply fundamentals.

Part 2: The contribution of natural gas to secure and cost-effective decarbonisation of Europe’s energy supply. Persistent tensions in EU-Russia relations have led to significant misgivings about the security of gas supplies. However, careful and systematic analysis shows that in fact the security of Europe’s gas supplies has consistently improved in the past two decades thanks to the success of the process of creation of a single, transparent and competitive European gas market. Notwithstanding two significant episodes of interruption of Russian gas supplies to Europe, the diversification of Russian export routes and belated acceptance on the part of Gazprom of the inevitability of complying with EU rules has completely changed supply conditions. Globally an upsurge of investment in LNG projects is leading to the formation of a global gas market in which cargoes can flexibly be redirected to accommodate unforeseen developments. In the context of Europe’s drive towards decarbonisation, gas provides a flexible source that can compensate the intermittency of new renewables and substitute for coal with substantial reduction in emissions. Unless European attitudes towards nuclear change, total elimination of reliance on fossil fuels for power production is impossible and gas will still have an important role to play.

Written by
Giacomo Luciani
Scientific Advisor, Master in International Energy, School of International Affairs, Sciences-Po, Paris;
Adjunct Professor of International Affairs at the Graduate Institute of International and Development Studies in Geneva

Highlights

• A very up to date overview of the role of Oil and Gas in a changing world, with focus on security, logistics, elasticity, investments
  
• Covers the recent evolution of global oil production