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THE EU ENERGY UNION“A view from stakeholders”
Carmen VindelDirector of European Institutions Regulation
Madrid 25th November 2016
2
Index
1. The new European Commission 2014/2019
2. The Energy Union Communication
3. EU Challenges for energy utilities
4. Conclusions
The New European Commission 2014/20191
President Junker’s five priorities:
1.- Growth & Jobs
2.- Energy
3.- Trade agreement with the USA
4.- Reform of the monetary union
5.- Answer the British question
Energy is one of the top five priorities in the agenda of the European Commission
The Energy Union is the political project of the EC that wills to transform in depth the
European Energy Sector. 13 out of 27 Directorates are involved
1
4
1 The new European Commission 2014/2019
The Energy Union Communication (Feb 2015)12
5
In the Communication, the Commission states its will to achieve:
The completion of a real European Internal Market
The EU Climate and Energy goals for 2020-2030
The Commission set 26 policy iniciatives to be developped in 2015-2016
INTEGRATED &
INTER-CONNECTED
RESILIENT AND
SECURE
SUSTAINABLE
Energy &
Climate
2020 - 2030
Roadmap
2050
Energy Union Main Policy Iniciatives2
AREAS
Renewables
Infrastructure targets / PCIs
Electricity
Infraestructure
SoS Elec / Market Design
New Deal Energy Consumers
Action
GasSoS Gas / GNL & Storage
Strategy
Retail
New Renewable Directive
Decarbonizing Transport
SectorTransport
Climate Action ETS/ Non-ETS
Energy Efficiency Energy Efficency Package
Regulatory Framework
Heating & Cooling Strategy
IGA´s/ External DiplomacyExternal Policy
Heating & Cooling
ACER Role
AREAS Action
The European Commission has already tabled many legislative proposals
ETS/
NON ETS
ENERGY EFFICIENCY
RENEWABLESCONSUMERS
Security of Supply
2 Energy Union Consistency
Logic policy decision making to choose measures to achieve our targets in a cost
efficient manner. Clear and predictable rules are crucial
EU
RULES
EU Challenges for energy utilities3
THE ROLE OF NATURAL GAS
MARKET
DESIGN & RES
CLIMATE CHANGE
Energy Union should integrate all efforts related with the climate and energy EU
objectives
Short term
Long term
Medium term
1. Market Design & RES3
The upcoming legislative package will cover the whole chain of the electricity sector, as well as
other major topics such as Energy efficiency and Renewables
The upcoming package “Clean Energy for All” will cover:
Directive of Electricity Internal Market
Regulation for Electricity Market
Risk Preparedness Regulation of Security of Supply
Revision of Energy Efficiency Directive & Energy Performance of
Buildings
Revision of Renewable Energy Sources Directive
Directive for an Energy Union Governance
Final report of the DG Competition’s Sector Inquiry on CRMs
Regulation for an Agency for Cooperation of Energy Regulators
Report on Energy Prices and Costs
Communication on Innovation
…
Fall of European wholesale electricity prices
1. Market Design & RES3
European electricity prices halved in the last 8 years, endangering the reliability of these prices
The increasing penetration of RES displaces marginal units and prices fall
64,28
37,84
10,00
20,00
30,00
40,00
50,00
60,00
70,00
80,00
90,00
2008 2009 2010 2011 2012 2013 2014 2015 2016
€/M
Wh
Wholesale Electricity Markets (Average price) OMIE (ES & PT)
IPEX (IT)
POWERNEXT (FR)
NORDPOOL (Nordic)
APX NL
EEX PHELIX (DE)
APX UK
41%
2. The Role of Natural Gas in the EU3
Natural gas should play an importat role in the EU Energy Transition
-500.000
500.000
1.500.000
2.500.000
3.500.000
4.500.000
5.500.000
6.500.000
2010 2011 2012 2013 2014 2015
tCO
2
Total emissions Coal CCGT Cogeneration/Others
+150
+20%
CO2 emissions in the Spanish´s power sector
Energy
Efficiency
Renewables
Primary Energy Reduction vs. consumption path
estimated in 2007
Final Energy demand from RES
27% Europe: indicative target
27% Europe: binding target
2030
TargetGoal Objective Scope
Global
emissions
Global Emission Reduction
vs. 199040%
European: binding target
(National subtarget for non-ETS
sectors)
non-ETS
sector
emissions
ETS
emissions
Reduction of non-ETS sector emissions
vs. 2005
Reduction of ETS sector emissions
vs. 2005
30%
43%
Energy and climate targets are the long term challenge
3. Climate Change Targets3
13
4 Conclusions
Conclusions4
THE ROLE OF GASNEW MARKET DESIGN
GOVERNANCETO ACHIVE TARGETS
STREGTHEN THE ETS FOR ENERGY TRANSITION
CONSISTENCY OF OBJECTIVES
Thank you very much.
cvindel@gasnaturalfenosa.com
This presentation is the property of Gas Natural Fenosa.
Both its subject matter and its graphic design is for the
exclusive use of its staff.
©Copyright Gas Natural SDG, S.A.
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