1. GIE Annual Conference Recent developments in Transparency in the EU
Alexander Gee, DG Competition
23 November 2007
GIE Annual Conference

2. Introduction
Transparency identified as one of five main barriers to competition
Creates a level playing-field
Builds confidence in the market
Inquiry focused on:
access to transit pipelines
secondary trading
Storage
the “three-or-more” rule
23 November 2007
GIE Annual Conference

3. Sector Inquiry Almost all agreed:
information should be published without direct contact with primary capacity holder (often the incumbent)
cover technical, contracted, available capacity
cover forecast and historical availability
cover storage in detail and into the future
TSOs should ensure use-it-or-lose-it provisions applied and facilitate secondary trading
23 November 2007
GIE Annual Conference

4. Sector Inquiry: three-or-more rule
Published information can be limited if harm “legitimate commercial interests”
Regulators shall not authorise restrictions if there are three-or-more users
Applies to all users not just primary ones
N-S route: 1 or 2 primary users on 80% of route but 1 or 2 users on only 20%
E-W route: 65% of route covered whether primary users or all users
Should in any case publish number of users and a range of availability if not actual figures
23 November 2007
GIE Annual Conference

5. Legislative Proposals of 19.09.2007
Existing transparency rules in Article 6 of Gas Regulation and annexed guidelines
Proposal:
delete three-or-more rule
TSO to publish ex-ante and ex-post supply and demand information
LNG and storage operators to publish contracted and available capacity and actual use
TSOs and LNG and storage operators to keep relevant information for 5 years
23 November 2007
GIE Annual Conference

6. Other action
Preparation of revised guidelines on transparency in current Gas Regulation to clarify:
Technical and tariff information
Capacity information
Confidentiality rules including the three-or-more rule
Review of transparency regarding derivatives and financial instruments by mid-2008
Clarify requirements under financial rules
Evidence of market failure?
Could pre- or post-trade transparency help?
23 November 2007
GIE Annual Conference

7. Conclusion Importance of transparency recognised
Addressed in legislative package
Guidelines being revised
Further consideration given to trading transparency
23 November 2007
GIE Annual Conference