A Picture Of The European Gas Trading Market In 2005

摘要

The European gas industry is going through a period of major change as traditional monopoly structures are gradually trans- formed into open, competitive markets. Major consumers who want to be free to choose their own suppliers have led the pressure for market reform. The European Commission (EC) is committed to the establishment of a single market throughout Europe and many national governments are also keen to foster free market development to improve efficiency. But the road to reform has been bumpy, requiring extensive legislation and regulation. Under the terms of the 2003 EC gas directive, all European Union (EU) member states, unless specifically exempt from the liberalization requirements, now have a similar level of market opening — all non-household gas consumers have been able to choose their supplier since July 2004. Full gas market opening across Europe is scheduled for July 2007. Overall, at the end of 2004, at least 86% of gas consumed in Europe was supplied to end-users who were legally able to choose their supplier. But the amount of real competition between suppliers — and the degree of real choice offered to consumers — varies greatly between countries. The EC is aware of the issues and in May 2005 its competition directorate launched an investigation into the functioning of the gas and power market. Like many market participants, the EC believes much still needs to be done to kick-start the development of real competition in the energy markets.