Theory and Market Realities
One of the initial objectives of the EU gas market liberalisation was to reduce the monopoly power of incumbent utilities, which controlled the entire gas supply chain in the past. In this respect, progress has been observed in the UK following the opening up of the gas supply market in 1996. In Germany, first steps towards ownership unbundling of production, transport and distribution were taken after the introduction of the First Gas Directive in 1998. Real progress, however, has only been observed since the 2005 revision of the EnWG.
KeywordsClimate Policy Network Code Energy Security Market Reality Price Risk
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