South-east Europe Regional Energy Market

Under the Athens Memorandum was envisioned a South-East Europe Regional Energy Market (SEEREM) that will be liberalizedin a phased manner from 2005, and—ultimately—that this will form part of the EU’s internal energy market. The Memorandum was signed on November 2002 by Albania , Bosnia And Herzegovina , Bulgaria , Croatia , Greece , Former Yugoslav Republic Of Macedonia , Romania , Serbia And Montenegro , and Turkey . The states agreed to develop a regional energy market in power and gas from 2005.

Regarding inter-regional trade, the Memorandum states that the energy market in SEE will be integrated into the , defining eligible customers at that time to include power generators, and such that 20% of the market is liberalized. separate ownership of transmission, distribution. For countries in SEE where gas penetration is currently less than 10%, a gas expansion plan to raise use of gas above this threshold before 2010 must be adopted and
implemented.

ROMANIA'S ROLE

The subject of the article is the extent to which Romania , as the biggest country in South-East Europe and traditionally a net energy exporter to the region, complies with requirements under the Athens Memorandum, and outstanding challenges relatedto successful SEEREM accession.

Regional energy market development poses three key sets of challenges for Romania: (i) the needto move to energy industry economic and financial viability without Government support; (ii) the needfor institutional reform through industry commercialization/restructuring andregula tory development (iii) the need to mobilize finance for investments.

Memorandum provides a benchmark for the energy sector reform process in Romania . This benchmark is highly relevant in the Romania n context given the country’s aspirations towards EU accession and to become a major player in the SEEREM.

Under the Athens Memorandum , participating countries have committedto undertake the following steps:

:Policy

Energy strategy to be adopted.

Power tariffs andpa yments discipline to be such that

Social safety net for the power sector to be in place.

Independent regulator to be set up.

Gridcod es to be adoptedan d implemented.

Transmission tariff methodologies to be adopted.

:Industry commercialization and restructuring

Increasedutilit y transparency to be achievedthrough application of International Accounting Standards (IAS) andbest practice on corruption abatement as advised by a reputable international body to be adopted.

Transmission system operator to be set up. This entity should be independent at least in terms of its legal form, organization and decision making from other activities not relating to transmission.

Distribution system operator(s) to be set up. This entity should be independent at least in terms of its legal form, organization and decision making from other activities not relating to distribution.

:Market development

Information exchange between national dispatch centers to commence, moving to tele-information

Commercial codes to be developed.

Open network access andliber alization of the market for non-householdconsumers to take place in a phasedmanner from 2005.

	CATEGORIES ABOUT SOUTH-EAST EUROPE REGIONAL ENERGY MARKET

	balkans

	economy of romania

	energy policy

	energy in the european union

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South-east Europe Regional Energy Market