EU energy giants will be forced to split

EU member states began implementing the EU's energy “New Deal” on the 3rd. One of the most lethal measures is to split the energy giants. This will trigger a reshuffle of the EU energy industry, marking a substantial achievement in the EU's single energy market. After nearly two years of negotiations, EU member states formally passed a package of energy market reform bills in July 2009, known as the third energy “New Deal” in the history of the European Union. Its main content is the EU natural gas and electricity market. Carry out reforms, break down national barriers, promote market competition, promote the construction of a single energy market in the EU, and maintain energy supply security. The most striking and most controversial issue of the energy “New Deal” consisting of multiple legislations is to split the energy giants to achieve separation of the plant and the network, to prevent large energy producers from simultaneously controlling the transmission network and crowding out competitors. However, on the issue of how to dismantle, the EU once had serious differences. According to the recommendations of the European Commission at the outset, the most radical ownership split should be adopted, which requires energy giants to sell the transport network to completely separate the energy production and transport operations. The European Commission's proposal has been resolutely opposed by member states such as Germany and France, because these countries are concerned that the split of ownership will harm the interests of large energy companies in the country. As a compromise, the EU member states finally agreed to achieve “effective splitting”. The final legislation passed provides three options: one is the split of ownership; the other is the split of the right to operate, that is, the ownership of the transport network can still be retained. However, it is necessary to set up an independent company to be responsible for the operation of the transmission network; third, the management rights are split, that is, the transportation network can still be owned and operated, but the management rights must be handed over to the subsidiary company. Relevant legislation has entered into force in 2009. According to its regulations, EU member states should be implemented in domestic law before March 3, 2011. The regulations on splitting natural gas and power giants should be applied at the latest on March 3, 2012.  

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