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The impact of unbundling: Who can invest in what in the future?

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Thomas Starlinger presents at the Vienna Forum on European Energy Law, 2013

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The impact of unbundling: Who can invest in what in the future?

  1. 1. LET´S GET TO THE POINT.
  2. 2. The impact of unbundling Who can invest in what in the future? Dr. Thomas Starlinger
  3. 3. Who has to be unbundled?
  4. 4. Directive 2009/73(72)/EC Distribution System Operators (DSOs) Storage System Operators Transmission System Owners Transmission System Operators (TSOs)
  5. 5. DSOs, Storage System Operators and transmission system owners Article 15 (1) and 26 (1) Directive 2009/73/EC and Article 14 (1) and 26 (1) Directive 2009/72/EC “… shall be independent at least in terms of its [their] legal form, organisation and decision making …” Legal unbundling Management unbundling
  6. 6. TSOs  Ownership Unbundling, Article 9  Independent System Operator, Article 14 (13)  Independent Transmission System Operator, Article 17 seqq
  7. 7. Ownership Unbundling Investor Production & Supply TSO indirectly indirectly “control” or “rights”
  8. 8. “control” or “rights” in particular:  voting rights  appointment rights a majority share
  9. 9. Commission Opinions on TSO certification
  10. 10. “co-ownership”/”pipe-in-pipe-concept” Thyssengas (ITO) Thyssengas Thyssengas Service Macquarie ITO Aggerenergie GmbH Pipeline Only certified TSOs shall share their ownership!1 No TSO! 1 see also i.a. jordgas, GRTgaz DE
  11. 11. Public bodies (ISO) Latvia Pipeline LET LEGeneration & Supply AST ISO owner Independence! See also Sweden
  12. 12. Public bodies TAG (ISO) and Terna (OU) Terna/TAG CDP MEF Generation & Supply others TSO 70% Enel/ENI
  13. 13. Further elements elaborated by the Commission  Geographic scope • E.g. participations located in the US (Swedegas (OU), 50 Hertz (OU), National Grid (OU))  Potential for discrimination • Swedegas: waste treatment company – limited quantities of electricity as a by-product, pre-established prices (similar 50 Hertz) • Red Eléctrica (OU): regulated framework, small size (0.1375%)  Participation in storage facilities, activities in exchanges • Energienet.dk (OU)
  14. 14. Gasdotti (SGI), Italy - OU SGI TSO Eiser • regulated price • Spain Generation of solar energy • Small size • UK • in another part of Italy • electricity as by-product • partial regulated price • small size Waste management company Waste management company
  15. 15. Participations of management members and employees
  16. 16. Art 19 (5) Directive 2009/73(72)/EC  management and employees of the ITO shall hold no interest in any part of the VIU  German EnWG: shares in the VIU acquired by the management before 3 March 2012 must be sold only by 31 March 2016  no requirement for non management staff  Commission Opinion i.a. Nowega: • non-compliance with Directive • sell their financial interests in the VIU as soon as possible • or give them in the hands of an independent trustee
  17. 17. Financial committment of the transmission system owner
  18. 18. ISO  Article 14 (5) b Directive 2009/73/EC and Article13 (5) b Directive 2009/72/EC  The transmission system owner shall: • finance the investments decided by the ISO and approved by the regulatory authority • or give its agreement to financing by any interested party including the ISO • financing arrangements are subject to approval by the regulatory authority
  19. 19. ITO Article 17 (1) d Directive 2009/73(72)/EC • Financial resources for investments shall be made available by the VIU Article 18 (6-8) Directive 2009/73(72)/EC • Financial relations  market conditions  notice/approval to/of the regulatory authority
  20. 20. Cost-control  by Regulatory Authority  in tariff-setting procedure  only financing at market conditions will be taken into account  only projects approved in the investment plan?
  21. 21. Investment duties of TSOs
  22. 22. Investment duties of TSOs  Article 13 2009/73/EC and  Article 12 2009/72/EC  Development of the transmission system  Artcle 22 (7) 2009/73 (72)/EC  Enforcement of investments to be taken by the ITO in accordance with the network development plan
  23. 23. Dr. Thomas Starlinger A-1060 Wien, Am Getreidemarkt 1 Telefon: +43 1 582 580 Telefax: +43 1 582 582 E-Mail: t.starlinger@fplp.at

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