Geen gedwongen splitsing Europese energiegiganten (en)

EUOBSERVER / LUXEMBOURG - European energy giants will not be forced to sell their transmission networks as EU economy ministers have adopted a softer line on liberalisation of the union's gas and electricity sector.

A ministerial meeting in Luxembourg on Friday (6 June) saw lengthy talks aimed at boosting competition and cutting prices in the EU's energy market.

The European Commission argues this can be achieved through separation of companies' production and supply wings, known as full ownership unbundling.

But following firm opposition from a group of eight EU states - led by Germany and France - it is now possible for individual governments to choose one of three different models of unbundling.

"On the one hand, I am very happy that we reached a compromise. On the other hand, I am rather sad...I believe that the commission proposal was a very good proposal," EU energy commissioner Andris Piebalgs told journalists after the eight-hour long negotiations.

"Extending the scope [of unbundling] was the biggest compromise from my side," Mr Piebalgs added.

Aside from opting for the most ambitious path - full ownership unbundling, when a parent company sells its transmission networks to a different firm - EU capitals will also be allowed to apply two other scenarios.

Under one option, known as an independent system operator (ISO), big energy companies would retain ownership of the transmission lines, but hand managing control over networks to an entirely separate operator. This company would not share any shareholders with the parent company.

The last option, providing for a so-called independent transmission operator (ITO) - close to the views of the group of eight - also foresees a parent company retaining ownership of transmission networks, but owned by the same set of shareholders and heavily supervised by a national regulator.

Among other things, there will be a mechanism preventing top management from moving freely between a company's production and transmission wings. An executive involved in the transmission business will not be permitted to work three years before and four years after in the parent company.

In addition, the national regulator will examine the transmission operator's development and investment plans and may require changes.

"We did hard work to really establish all the necessary elements that guarantees that transmission system operators are independent also in this model. I believe that we defended it well," commissioner Piebalgs said.

The ministerial agreement still needs the approval of the European Parliament, with the vote due in July.