ocp192_en

Recommendations

Info

Memorandum of Understanding on Specific Economic Policy Conditionalityiii.iv.Market based provision of ancillary and balancing services.Deep market integration of demand side response.v. Ensuring that implementation of NOME-type products is compatible and coherentwith the privatization process of PPC and the creation of small PPC. The NOMEauctionsand products will remain until the Greek electricity retail markets are fullycompetitive. The creation of a fully operational small PPC will constitute anecessary milestone in this regard.6.1.5.2. Gas market1. The timeline and list of actions to be taken in order to facilitate the transition to a moremature gas market model, increasing the degree of competition at all levels, and transferringthe advantages to the broadest possible set of consumers will include, at a minimum, thefollowing actions:i. The transition from a bilateral contracts-based market to a competitive and liquidgas market.ii.iii.iv.A review and improvement of LNG regulation to further favour third-party access,with cost-based tariffs, including if appropriate, complementary measures tofacilitate its usage (gas swaps).A review of the current gas release programme in order to increase its effectiveness.A review of whether complementary measures pursuant to Article 83 of Law4001/2011 are requiredv. Further development of storage legislation and regulation, and foster availability ofstorage sites, in order to improve flexibility in the market.vi.vii.viii.ix.A plan for promoting the adoption of gas as heating fuel for households, for reasonsof efficiency and emissions reduction, inter alia through the use of EU structuralfunds and possibly accompanied by a fiscally neutral revision of the excise on gas,thus simultaneously stimulating more competitive conditions in the electricitymarkets.The transition of supply and distribution (including for the existing and projectedso-called EPAs), to a regulated model, with separation of supply from networkactivities. In line with what is bound to happen in the electricity market, this shouldinclude the phase-in of incentive-based regulation for distribution (and fortransmission) in order to favour network development.The transition to full eligibility for all gas customers.The phase out of the derogation under the Third package.2. As far as the distribution segment is concerned, the minimum result of the above reformswill be:i. The adoption of legal provisions to provide the legal and functional unbundling(Chapter V of Directive 2009/73/EC) and relevant corresponding duties andpowers to RAE (Chapter VIII of Directive 2009/73/EC) of EPAs supply andnetwork businesses, to be effective 1 st October 2015 (September 2014).ii.iii.The adoption of legal provisions to make all gas industrial consumers in Greeceeligible effective 1st October 2014, and all other gas customers eligible according tothe schedule identified in point 1.viii above (June 2014).EPAs will make their supply and network business legally and functionallyunbundled by 30 th September 2015.208
Memorandum of Understanding on Specific Economic Policy Conditionalityiv.6.1.6. Fuel MarketThe Government will:Effective 1 st October 2015, network development by all EPA networks, existing andprojected, shall be regulated by RAE, which will set appropriate network tariffs andadequate investment incentives for distribution networks.v. The Hellenic Competition Commission will review by June 2014 the remedies itimposed on DEPA through its decision of 12 November 2012. The review inter aliawill seek to optimise the functioning of the imposed gas release programme, takinginto account RAE’s opinion and the views of all concerned stakeholders, byadapting the gas release products offered to end customers requirements and theneed to create a more liquid gas wholesale market.1. Implement the agreed roadmap for the creation of a regulated, non-profit independentorganisation for the storage of fuel reserves (Central Stockholding Entity, CSE), Draftlegislation will be consulted with public and the EC/ECB/IMF by June 2014, with aview to its approval by September 2014 and implementation through MinisterialDecrees by December 2014. The CSE will be operational by 1 st January 2015.2. The legislative provisions will allow the national network to use storage capacity ofother EU countries in compliance with EU regulation 119/2009.3. Within one month from the entry in operation of the CSE the minimum duration of oneyear for contracts on storage facilities' use by third parties shall be no more effective(January 2015).4. Monitor and make publicly available average monthly data on storage and other costcomponents charged to domestic and international customers (April 2014).5. To remove regulatory restrictions that hinder competition in the wholesale fuel sector,the Government, as per Opinion no. 29/VII/2012 of the Hellenic CompetitionCommission:i. Following the implementation of a mandatory guarantee scheme for wholesalefuel trading as an alternative for minimum capital requirements for operating insuch market, we shall review the effectiveness of the new system by December2014.ii.Adopts all necessary implementing legislation to Law 4172/2013 to allow forthe installation of inflow-outflow systems throughout the refining andwholesale trading supply chain (April 2014).6. To enhance competition in the retail fuel sector, as per the same opinion of the HellenicCompetition Commission completes the installation of inflow-outflow systems in theareas not yet covered by August 2014.6.2. Electronic communicationsThe switch-over from analogue to digital TV technology will release a significant amount of highquality radio spectrum which will be free for the deployment of new services and new technologies.This ‘digital dividend’ can boost both the broadcasting sector and the wireless communicationindustry, make a major impact on competitiveness and growth, and provide a wide range of socialbenefits. The items below provide a roadmap for the release of the digital dividend in Greece.1. Regarding the release of Digital Dividend, the Government (and/or EETT) undertakes to:i. Resolve cross-border coordination issues with neighbouring countries, if any. Ifdifficulties on international coordination make this unfeasible, the frequency and209
Page 2 and 3:
Occasional Papers are written by th
Page 5 and 6:
OUTLINE OF THE REPORTEXECUTIVE SUMM
Page 7 and 8:
LIST OF GRAPHSGraph 1. Economic cli
Page 9:
ACKNOWLEDGEMENTSThe report was prep
Page 12 and 13:
European CommissionThe Economic Adj
Page 14 and 15:
Page 16 and 17:
Page 19 and 20:
1. INTRODUCTION1. INTRODUCTION1. Th
Page 21 and 22:
2. MACROECONOMIC AND FINANCIAL DEVE
Page 23 and 24:
2. Macroeconomic and financial deve
Page 25 and 26:
Chart 3Graph 2.3. Exports of goods
Page 27 and 28:
Page 29:
Page 32 and 33:
European CommissionThe Second Econo
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
Chart 17Graph 11.1 labour reform in
Page 62 and 63:
Page 64 and 65:
Chart 18Graph 13.1. Distance to Fro
Page 66 and 67:
Page 68 and 69:
Page 70 and 71:
Page 72 and 73:
Page 74 and 75:
Page 77 and 78:
4. DEBT SUSTAINABILITY ANALYSIS AND
Page 79 and 80:
4. Debt sustainability analysis and
Page 81 and 82:
4. Debt sustainability analysis and
Page 83:
Table 12. List of Milestones to be
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131:
Page 132 and 133:
Page 134 and 135:
Page 136 and 137:
Page 138 and 139:
Page 140 and 141:
Page 143 and 144:
ANNEX 2: MACROECONOMIC FORECASTANNE
Page 145 and 146:
ANNEXTable B1: USE AND SUPPLY OF GO
Page 147 and 148:
ANNEXTable C1: FISCAL ACCOUNTS AND
Page 149:
ANNEX 3: UPDATED PROGRAMME DOCUMENT
Page 152 and 153:
Page 154 and 155:
Page 156 and 157:
Memorandum of Understanding on Spec
Page 158 and 159:
Page 160 and 161:
Page 162 and 163:
Page 164 and 165:
Page 166 and 167:
Page 168 and 169: Memorandum of Understanding on Spec
Page 239 and 240: OCCASIONAL PAPERSOccasional Papers
Page 241 and 242: No. 46No. 47No. 48No. 49The Western
Page 243 and 244: No. 80 2011 Pre-accession Economic
Page 245 and 246: No. 119No. 120No. 121No. 122Possibl
Page 247 and 248: No. 1582013 Economic and Fiscal Pro
Page 251 and 252: HOW TO OBTAIN EU PUBLICATIONSFree p
show all

ocp192_en

Create successful ePaper yourself

Delete template?

Save as template?