The Energy Regulation and Markets Review - Stikeman Elliott

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Contents Chapter 25 United Arab Emirates ................................................ 302 Masood Afridi and Haroon Baryalay Chapter 26 United Kingdom .......................................................... 319 Elisabeth Blunsdon Chapter 27 United States ................................................................ 334 Michael J Gergen, Natasha Gianvecchio and David L Schwartz Chapter 28 Venezuela........................................................................ 344 Arnoldo Troconis Appendix 1 About the authors .................................................... 357 Appendix 2 Contributing Law Firms’ contact details ..... 374 vii
Editor’s Preface Safe and reliable delivery of electricity and natural gas has been the hallmark of energy policy and regulation in the industrialised world for the past 75 years. More recently, regulators, policymakers and the industry began to focus their attention on ways to improve economic efficiency, increase productivity and reduce costs through a seemingly endless series of reforms. In some countries, utilities were encouraged to enhance transmission and interconnection facilities with neighbouring systems in order to pool energy resources. More recently, utilities have been encouraged to participate in regional organisations to buy and sell power, and to administer transmission, dispatch and scheduling of a variety of energy products. Certain countries have encouraged utility efficiency through a variety of performance-based incentives. Policymakers have tried to reduce the barriers to entry by requiring non‐discriminatory treatment among transmission users, and prohibiting affiliate abuse. Utilities were encouraged to unbundle certain utility services; in some cases, regulators required the divestiture of generation or transmission facilities. Utilities have even been encouraged to provide retail wheeling services to facilitate competition for delivery service customers. Many markets have developed competitive bid-based electricity auctions to set energy and capacity prices, which often take into consideration the cost of transmission congestion. These markets tend to be administered by independent or governmental entities that do not have a market position bias. Clearing prices set in these markets are intended to send price signals to maximise short-term efficiency (scheduling, dispatching and selling energy), as well as long-term efficiency (building new or retiring old generation and transmission facilities). In certain countries, lawmakers and policymakers have encouraged developers to build and finance new renewable resources and to develop more effective means of conserving energy, through a variety of ‘carrots’ and ‘sticks’. These measures have included subsidies such as feed-in tariffs and renewable energy credits, as well as utility ix
Page 1 and 2: The Energy Regulation and Markets R
Page 3 and 4: The Energy Regulation and Markets R
Page 5 and 6: Publisher Gideon Roberton business
Page 7 and 8: Acknowledgements Minter Ellison Pak
Page 9: Contents Chapter 11 Indonesia .....
Page 13 and 14: Chapter 1 Australia Mitzi Gilligan,
Page 15 and 16: Australia The regulator for Western
Page 17 and 18: Australia In addition to the requir
Page 19 and 20: Australia III TRANSMISSION/TRANSPOR
Page 21 and 22: Australia The AER’s regulatory ap
Page 23 and 24: Australia While there remain jurisd
Page 25 and 26: iv Market developments Australia AE
Page 27 and 28: Australia Australian Renewable Ener
Page 29 and 30: Australia 2004 White Paper, ‘Secu
Page 31 and 32: Australia Geothermal Geothermal ene
Page 33 and 34: Australia enable the participation
Page 35 and 36: Chapter 2 Austria Bernd Rajal and G
Page 37 and 38: ii Regulated activities Austria Acc
Page 39 and 40: Austria fully separated from the VI
Page 41 and 42: Austria and supply deals can be set
Page 43 and 44: Austria policy for the next 10 year
Page 45 and 46: iii New Emissions Trading Act Austr
Page 47 and 48: Brazil Alternatively, there is the
Page 49 and 50: Brazil b c d e The Monitoring Commi
Page 51 and 52: iii Brazil Ownership and market acc
Page 53 and 54: Brazil connection, considering the
Page 55 and 56: Brazil and a draft of the concessio
Page 57 and 58: Chapter 4 Bulgaria Yassen Spassov 1
Page 59 and 60: iii The evolving legal framework Bu
Page 61 and 62:
Bulgaria applications shall be lodg
Page 63 and 64:
Bulgaria III TRANSMISSION and DISTR
Page 65 and 66:
Bulgaria of Kozloduy NPP. In terms
Page 67 and 68:
iii Energy market rules and regulat
Page 69 and 70:
Bulgaria prices for transmission an
Page 71 and 72:
Bulgaria In terms of formation, fee
Page 73 and 74:
Bulgaria regulation is that, althou
Page 75 and 76:
Canada For purposes of expediency,
Page 77 and 78:
Canada Energy and utility commissio
Page 79 and 80:
iii Canada Ownership and market acc
Page 81 and 82:
Canada of distribution systems are
Page 83 and 84:
Canada Independent Electricity Syst
Page 85 and 86:
Canada number of provinces (includi
Page 87 and 88:
ii Energy efficiency and conservati
Page 89 and 90:
Colombia regulations include CREG R
Page 91 and 92:
Colombia d e f g establishing the m
Page 93 and 94:
Colombia of backup generating capac
Page 95 and 96:
Colombia by generators and traders
Page 97 and 98:
Colombia five projects assigned, fo
Page 99 and 100:
France and initiated the beginning
Page 101 and 102:
France (Electricity), and distribut
Page 103 and 104:
ii France Transmission/transportati
Page 105 and 106:
France CRE, regardless of the tradi
Page 107 and 108:
France draft Directive that is curr
Page 109 and 110:
Chapter 8 Germany Dirk Uwer 1 I OVE
Page 111 and 112:
Germany Commission may subsequently
Page 113 and 114:
Germany Also in consideration of th
Page 115 and 116:
Germany Moreover, the Foreign Trade
Page 117 and 118:
Germany In Germany there are no spe
Page 119 and 120:
Germany face not only technological
Page 121 and 122:
Greece In order to increase the com
Page 123 and 124:
Greece assignment of seismic and ot
Page 125 and 126:
Greece having direct or indirect co
Page 127 and 128:
Greece Apart from the wholesale mar
Page 129 and 130:
ii The feed-in tariff system Greece
Page 131 and 132:
Greece In addition to the above, pu
Page 133 and 134:
India charge of nuclear energy. The
Page 135 and 136:
India model public private partners
Page 137 and 138:
India hacking and security breaches
Page 139 and 140:
India Natural Commodity and Derivat
Page 141 and 142:
India and financial incentives. Cap
Page 143 and 144:
India VIIi CONCLUSIONS and OUTLOOK
Page 145 and 146:
Indonesia When the Asian financial
Page 147 and 148:
Indonesia c d e f g assessing first
Page 149 and 150:
Indonesia b • electrical power ge
Page 151 and 152:
Indonesia A company holding a stora
Page 153 and 154:
Indonesia government turned to coal
Page 155 and 156:
Indonesia High development risk and
Page 157 and 158:
Indonesia The accelerated electrici
Page 159 and 160:
Italy Italy is the fourth importer
Page 161 and 162:
iv Italy Transfers of control and a
Page 163 and 164:
Italy The GME also operates P-Gas,
Page 165 and 166:
Italy commissioning) tariffs for pl
Page 167 and 168:
Italy White certificates White cert
Page 169 and 170:
Italy f The draft law for the parli
Page 171 and 172:
Chapter 13 Japan Reiji Takahashi, A
Page 173 and 174:
Japan ii Regulated activities Elect
Page 175 and 176:
Japan Other types of town gas busin
Page 177 and 178:
Japan Notwithstanding the foregoing
Page 179 and 180:
Japan IV ENERGY MARKETS i Japan Ele
Page 181 and 182:
Japan b c d e for contracts for sal
Page 183 and 184:
Chapter 14 Malaysia Lukman Sheriff
Page 185 and 186:
Malaysia f g h safety of electrical
Page 187 and 188:
Malaysia network, which is wholly o
Page 189 and 190:
Malaysia Any person who wants to ge
Page 191 and 192:
Chapter 15 Mexico Gonzalo A Vargas
Page 193 and 194:
Mexico Energy and Energy Transition
Page 195 and 196:
Mexico Environmental licences are n
Page 197 and 198:
Mexico to the CRE and the lack of a
Page 199 and 200:
iii Market developments Mexico It i
Page 201 and 202:
Mexico VII CONCLUSIONS and OUTLOOK
Page 203 and 204:
Netherlands the time of writing a b
Page 205 and 206:
iii Netherlands Ownership and marke
Page 207 and 208:
Netherlands IV ENERGY MARKETS i Dev
Page 209 and 210:
Netherlands committed to working to
Page 211 and 212:
Chapter 17 Nigeria Ken Etim and Ayo
Page 213 and 214:
Nigeria Power Holding Company of Ni
Page 215 and 216:
Nigeria Nigerian law also requires
Page 217 and 218:
Nigeria policy. It envisages the es
Page 219 and 220:
Nigeria of the industry. 11 The Bul
Page 221 and 222:
Nigeria in higher institutions and
Page 223 and 224:
Norway individual decisions and per
Page 225 and 226:
Norway III TRANSMISSION/TRANSPORTAT
Page 227 and 228:
Norway market organised by the Nord
Page 229 and 230:
Norway a b c The following plants a
Page 231 and 232:
Chapter 19 Russia Evgeny Danilov 1
Page 233 and 234:
Russia b c an agreement between Rus
Page 235 and 236:
Russia energy sphere are commercial
Page 237 and 238:
Russia No licence or other state pe
Page 239 and 240:
Russia sources and radioactive subs
Page 241 and 242:
Russia or property). Exercise of st
Page 243 and 244:
Russia has been approved for non-di
Page 245 and 246:
Russia The main aim is to prevent a
Page 247 and 248:
iii Contracts for sale of energy Ru
Page 249 and 250:
Chapter 20 South Africa Shamilah Gr
Page 251 and 252:
South Africa Natural gas is importe
Page 253 and 254:
South Africa b the National Energy
Page 255 and 256:
South Africa As noted above, the ma
Page 257 and 258:
South Africa prescribed thresholds.
Page 259 and 260:
South Africa Pipeline Company’).
Page 261 and 262:
South Africa This framework is subj
Page 263 and 264:
South Africa The Regulatory Agreeme
Page 265 and 266:
South Africa mentioned, current nat
Page 267 and 268:
South Africa caps) to be used durin
Page 269 and 270:
Chapter 21 Spain Antonio Morales 1
Page 271 and 272:
Spain b c d e f g plants. Depending
Page 273 and 274:
Spain model defined by the regulato
Page 275 and 276:
iii Contracts for sale of energy Sp
Page 277 and 278:
Spain Alongside this plan, some of
Page 279 and 280:
Sweden II REGULATION i The regulato
Page 281 and 282:
Sweden Transactions leading to a si
Page 283 and 284:
Sweden iii Rates The tariffs charge
Page 285 and 286:
Sweden day. The net positions of th
Page 287 and 288:
Sweden The Electricity Certificates
Page 289 and 290:
Sweden aspect that most certainly c
Page 291 and 292:
Switzerland time, certain decisions
Page 293 and 294:
Switzerland f g h universities, bus
Page 295 and 296:
Switzerland such as ENTSO-E (Europe
Page 297 and 298:
Switzerland tariff increases and th
Page 299 and 300:
Switzerland Zürich (ewz) and Repow
Page 301 and 302:
Switzerland said the government lac
Page 303 and 304:
Turkey In the meantime, TEK was unb
Page 305 and 306:
iii Turkey Ownership and market acc
Page 307 and 308:
Turkey a non-discriminatory basis,
Page 309 and 310:
Turkey wind park energy (known as t
Page 311 and 312:
Turkey of a preliminary licence wit
Page 313 and 314:
Turkey Tax exemptions and grants In
Page 315 and 316:
United Arab Emirates Ministry of En
Page 317 and 318:
United Arab Emirates c issuing deci
Page 319 and 320:
United Arab Emirates h i j k l Sham
Page 321 and 322:
United Arab Emirates Abu Dhabi is s
Page 323 and 324:
United Arab Emirates The calculatio
Page 325 and 326:
United Arab Emirates Similarly, pow
Page 327 and 328:
United Arab Emirates its energy dem
Page 329 and 330:
United Arab Emirates MIST is likely
Page 331 and 332:
Chapter 26 United Kingdom Elisabeth
Page 333 and 334:
United Kingdom Licences are issued
Page 335 and 336:
United Kingdom of at least 28 days.
Page 337 and 338:
United Kingdom against each other.
Page 339 and 340:
United Kingdom provisions relating
Page 341 and 342:
United Kingdom as possible. Prices
Page 343 and 344:
United Kingdom via the FiT CfD mech
Page 345 and 346:
United Kingdom E.ON and RWE’s int
Page 347 and 348:
United States The Nuclear Regulator
Page 349 and 350:
United States entities, which led t
Page 351 and 352:
United States participants to deter
Page 353 and 354:
United States with their standards
Page 355 and 356:
United States use of these credits
Page 357 and 358:
Venezuela The modification of the o
Page 359 and 360:
Venezuela intended projects and vis
Page 361 and 362:
Venezuela The MEP fixes the prices
Page 363 and 364:
Venezuela reserve any product at an
Page 365 and 366:
Venezuela capacity. Such use is sub
Page 367 and 368:
Venezuela The Mobil Cerro Negro Ltd
Page 369 and 370:
Appendix 1 About the authors Masood
Page 371 and 372:
About the Authors written several a
Page 373 and 374:
Fabrice Fages About the Authors Lat
Page 375 and 376:
About the Authors Her practice also
Page 377 and 378:
Atsutoshi Maeda About the Authors A
Page 379 and 380:
Christian Poulsson About the Author
Page 381 and 382:
About the Authors Guilherme Guerra
Page 383 and 384:
About the Authors Texas, (1991). He
Page 385 and 386:
About the Authors Glenn Zacher Stik
Page 387 and 388:
Contact Details Djingov, Gouginski,
Page 389 and 390:
Contact Details Mannheimer Swartlin
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