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All you need to know on the EU energy market in 2018-2019… in one interview!

The FSR is pleased to publish an exclusive interview to Klaus-Dieter Borchardt (Director, DG ENER), by Ilaria Conti (Head of FSR Gas Area) – recorded […] read more


Ilaria and Andris



FSR Gas area’s first year of life

The FSR Gas area was officially born in February 2017, almost one year ago – but its first year of life was so hectic that […] read more


Ilaria Conti



FSR presenting at Energy Trading Summit 2017

Today, Ilaria Conti, Head of FSR Gas, participates in the Energy Trading Summit 2017 in Milan. The Energy Trading Summit is the first Italian event […] read more





FSR presenting at EMART Energy conference

This Wednesday, 4th October 2017, the FSR travels to Amsterdam to attend the EMART Energy conference. Ilaria Conti, Head of FSR Gas Area, will participate […] read more


Nico Keyaerts



FSR presents at the Future Gas project’s Annual Meeting

Today the second annual meeting of the FutureGas international research project took place in Denmark and our Senior Gas researcher Nico Keyaerts attended on behalf […] read more


Ilaria Conti

Topic of the Month


The energy regulators’ dilemma: anticipate the future or risk lagging behind?

Written by Ilaria Conti While the EU Commission wonders where the EU Gas market design “is going” (with its “Quo vadis study”) and as we […] read more


FSR-CEER Fundamentals of Energy Regulation



FSR debating the future role of gas at CEER

Today, Thursday 21st September, the FSR is back in Brussels discussing the role of gas in the future. Ilaria Conti, Head of FSR Gas, is […] read more


Ilaria Conti

Topic of the Month


The perspectives of gas utilities: which new skin will fit the “utility of the future”?

Written by Ilaria Conti Gas utilities are facing the double challenge – among others – of decarbonisation and digitalisation, which are the main disruptive elements to […] read more




FSR and CINSEDO to provide training for the Italian regional officers

Today, Tuesday 12th September, the FSR is in Rome lecturing in a Summer School training dedicated to the officers of the Italian regions. This exclusive […] read more

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Ilaria Conti

EU Gas market design: the quiet before the storm?

- Gas

Written by Ilaria Conti

It’s currently time for reflection, in Brussels, on EU gas regulation and market design.

With the Third Energy Package close to being fully implemented, is it already time to start working at a new package of gas regulatory measures? And, more importantly, would it be necessary and what for?

In 2009, the Third Energy Package initiated a profound re-shaping of the EU internal gas market structure – from unbundling to the invention of ACER and the ENTSOs. Lately, the gas Network Codes have more or less smoothly entered the implementation phase – giving the impression that, although not perfectly, the current gas market design is good enough to satisfy most of the market actors’ needs and, more importantly, it seems to work.

We will talk about consistency in the history of EU gas market regulation right this week in Brussels at the CEER-FSR joint training on Fundamentals of Energy markets.

However, after the long-lasting negotiations concerning some Network Codes’ provisions (particularly the Tariffs NC) – no big controversies have lately emerged on EU gas regulation, not even after the release of last year’s Security Package.

So is the current EU gas market picture the best of all possible worlds? Is this apparent calm due to a general and multilateral satisfaction with the current frame? Or are we just witnessing a short quiet before the storm?

This strange silence made me think of Oscar Wilde’s famous quote: ““Whenever people agree with me, I always feel I must be wrong.”.

And indeed, maybe just to be on the safe side, a couple of months ago the European Commission’s DG Energy opened a call for a research study on future EU gas market design – called Quo Vadis ?- which aims to investigate whether any piece is missing in the puzzle and, if needed, trigger a next regulatory package on EU gas market. We will find out in the course of next months.

Meanwhile, the Annual report published by ACER in September last year shows that there’s still some work to do in order to obtain a truly harmonised Single EU gas market. In particular, the binding implementation of the Congestion Management Procedures is still pending in six Member States; also, the achievement of the Gas Target Model seems still far away, with market integration and the creation of trading regions proceeding at slow pace.

The topic of the month coincides this time with the official launch of a new FSR Gas area (link to Gas homepage) of the Florence School of Regulation, totally devoted to gas regulation and policy.

Next week we will look into another topical issue, directly related to gas market design : EU Energy Governance. Stay tuned!

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