Vienna, 8 April 2008
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Transcript of Vienna, 8 April 2008
Vienna, 8 April 2008
4th IG Meeting
Meeting Guide
2 4th IG meeting, Vienna, 8 April 2008
Agenda
Agenda Topic Rapporteur
12.45 Arrival and registration
13.00 Opening-Approval of the agenda-Approval of the operational conclusions of the 3rd IG meeting
Co-chair
13:15 Regional cooperation – Update2.1. Cooperation of regulators2.2. Update on Regional Gas Grids2.3. Update on New European Transmission System2.4. Cooperation of TSOs-Discussion
RCCEFETMOLTSOs
14:30 Standardised bulletin board – Update-Discussion
TAG GmbH
14.00 Coffee break
15.15 Status of conclusion of Interconnection Point Agreement at Baumgarten-Discussion
TSOs and CEGH
15.45 Implementation of EASEE-gas CBPs in the region EASEE-gas
16.15 Infrastructure development: pilot project for SSE region TSOs and Co-Chair
16.45 Strategic advisory panel Co-chair
17:00 Closure Co-chair
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1. Opening
Approval of the agenda
Review of action points from from 3rd SG Meeting (22.1.2008, Prague)
Approval of minutes from 3rd SG Meeting (22.1.2008, Prague)
Are there any AOB:Suggestion: Presentation by BOG GmbH on WAG extension
Any other AOB?
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1. Opening
Review of action points from last meetingAction Description Who
AP1 Best-practice standardised bulletin board: Update at next meeting
Paper to be provided by TAG GmbH to be presented at the next IG/SG meeting
Input from TSOs required on how often the services have been used
TAG GmbH
AP2 Removing remaining obstacles to implementation of IPA/OBA:TSOs to meet to discuss technical issues w/c 28th January 2008, TSOs to provide the CEGH with a list of concrete technical issues/obstacles
RCC to invite four Austrian TSOs and CEGH to discuss the issue further: remaining issues, potential remedies
Aim: To solve technical issues
Summary of actual outcomes of this meeting amongst TSOs to be sent to RCC (lead regulators)
CEGH, TSOs
AP3 Hub development as regional balancing market: Both CEGH/EFET and Eurelectric to provide updates regarding the hub development at the next IG/SG meeting.
RCC to monitor the development to ensure it is in line with the envisaged time tables.
Update to be provided at the next SG/IG meeting
CEGH, IBP TF (Aiget, EFET, Eurelectric)
AP4 Summary of planned investments in the region (incl. storage): RCC to evaluate GTE’s methodology
All SG invited to comment whether GTE’s methodology can be used for investment planning processes
RCC to examine data availability issues; RCC and members of the SG to define scenarios that might impact on long term investment planning (especially w.r.t. major infrastructure projects)
RCC SG members
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1. Opening
Review of action points from last meeting
Action Description Who
AP5 REETS: RCC to invite all SG to comment on the paper. The paper is available from the ERGEG web page.
Envisaged deadline: 31st March 2008.
Emails to be sent to [email protected] (CC to [email protected])
RCC
AP6 Best practice provision of OSS service/R_ISO model: EFET to evaluate all comments and draft an evaluation and conclusions paper based on the outcomes of the workshop.
TSOs to make a proposal (e.g. a memorandum of understanding (MoU) on cooperation) covering the identified issues, the envisaged structure for cooperation and a time schedule for implementation.
RCC to provide an update regarding the progress of Regional TSO-cooperation at next IG meeting WITH ALL STAKEHOLDERS in mid-April 2008 (including discussion of potential forms of regulatory cooperation, eg via MoU)
EFET TSOs RCC
AP7 Examining barriers to market entry in SSE: RCC to evaluate possibilities of commissioning a study on the topic of market barriers in the SSE region
RCC to draft the scope/ToR of such a study in line with the work that has been done for electricity in this area
RCC
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1. Opening
Approval of minutes from 3rd SG Meeting (22.1.2008, Prague)
Comments – as far as they have been sent – have already been included into the new version of the minutes
All documents are available online:http://www.energy-regulators.eu/portal/page/portal/EER_HOME/EER_INITIATIVES/GRI/South_South_East/Meetings1/SG_meetings/3rd_SSE_SG
Are there any additional comments?
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2. Regional cooperation – Update
2.1. Cooperation of regulators Draft MOU has been circulated for comments
Comments have been received
Main areas: Co-ordination, information and harmonisation
Regulatory Co-ordination Regulation of the Gas Market Sharing of Information Consultation Avoidance of Inconsistency of Action
Operation of MoU Term of MOU and Review Dispute Resolution
Aim should be to make cooperation visible to the outside world SSE Regulators‘ network
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2. Memorandum of Understanding
Aim: discussion of text today
Signing: Next RCC meeting on 9/10 June in Athens, Greece
Aim should be to make cooperation visible to the outside world Website for SSE Regulators‘ network
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2. Regional cooperation – Update
2.2. Update on Regional Gas Grids- Workshop participants identified scope for the regional cooperation in
the following areas where regional TSO cooperation delivers the greatest benefits to market integration- Access to capacity/Congestion Management at Cross Border Points
- Management of capacities (“one-stop-shop”)- Easier access to the systems through Interconnection Point Agreements- Harmonisation of services
- Merging of balancing zones to foster wholesale trading
- Regional investment planning to remove physical congestion- Roles and responsibilities
- Cost / Benefit analysis
Dipl. Ing. Dr. Stephan ResslVice Chairman EFET Europe GasCChair EFET SSE
Head of Business DevelopmentEconGas
GRI SSEVienna, 08.04.2008
European Federation of Energy Traders
Stephan Ressl Vienna, 08.04.2008 15
EFET R_ISO Model – Why?
R_ISO (multi-TSO) and
aspects of security of supply
physical capacity available from
source to final customers?
Transport cost clearly calculable at
point of supplier‘s decision on where to
source gas from?
Historically, many major investments
happened because of international
(cross-border) consortia/cooperation (e.g. Megal, TAG, BOG,…)
Aim must be that at least some different supply sources must potentially physically
arrive in each area – no security of supply without physical interconnection (long
term and short term)
Stephan Ressl Vienna, 08.04.2008 16
EFET R_ISO Model – Benefits for competition
R_ISO and aspects of
competition
final customerPooling of consumption withinone balancing area – increase of negotiating powerLarger netting of imbalance positions reduces opportunity costs for suppliersMore potential suppliers, reductionof market concentration
for shippers/suppliersMore similar customers in one market areaReduced opportunity cost: nomination, balancing,registration, etc.. reduced risk to deliver
Macro-economic/politicalPotential of economies of scale for system operationEg potential for higher capacity provision through larger flow optimisationReduced national influence
Grid 2007
Stephan Ressl Vienna, 08.04.2008 17
GRI SSE: EFET R_ISO Model – Comments received
A stakeholder consultation on R_ISO model took place, the
deadline was 10 January 2008Comments from following parties has been received so far:
CEER – supportive, asks for more detailsOGP – rather supportive, wants to avoid inefficient structures and more detail on the economiesEurelectric – supportiveEurogas – supportiveGTE – does not want to make effort before 3rd package, however acknowledges benefits of European integrated flow optimisation (winter outlook)
Based on the first reaction during the WS in Prague the GRI
SSE decided to launch an impact assessment analysis ---> results to be presented in June at SG GRI SSE
EFET has prepared an evaluation paper of the comments
received
Stephan Ressl Vienna, 08.04.2008 18
GRI SSE: Benefits of integrated flow pattern
GTE presented benefits of European flow optimisation in its winter
stress presentation at last meeting in Prague 22.01.2008
EFET SSE welcomes the integrated flow optimisation approach by
GTE
Stephan Ressl Vienna, 08.04.2008 19
Proposed timeline for establishment ofa regional E/E model in SSE
Harmonisation of rules at regional level (common transmission model)
Regional auction platform and market based balancing
Harmonised regional network access
Coordinated investment planning and regional balancing
Joint regional network operation
Regional entry-exit model
Interconnection agreements (incl. operational balancing accounts)
end 2011
mid 2011
end 2010
mid 2010
end 2009
mid 2009
end 2008
Stephan Ressl Vienna, 08.04.2008 20
EFET R_ISO Model - Conclusion
EFET is going to contact all interested associations in order to get to a common
view on the possible development of the regional model – within next month
EFET believes that starting implementation of such a model now is key for
further development of the liberalised market and taking already the elements of
the 3rd package on board
For SSE: Wait on the results of the PWC multi-client study (PWC sent out
questionnaire to traders and shippers)
For SSE: Establish an advisory panel for additional help
Regions must be established on a pragmatic basis, CEGH finally established,
Italy should also introduce a balancing market
Regions obviously must be compatible with each other
Germany is moving: E-ON CEO Bernotat statement for electricity;EGT and Bayernet
MOL proposal goes even further
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2. Regional cooperation – Update
2.3. Update on New European Transmission System
Update on the NETS Concept A new, value creating, cross-border business
Initiative4th IG Meeting
Vienna 8th April 2008
Proposal to unite Central and South-Eastern Europe’s gas pipeline networks within a new and independent regional natural gas transmission company
Significantly higher value for shareholders than operating separate systems
Would be well positioned to leverage international capital markets to finance major infrastructure development projects
Consumers would also enjoy the benefits of an integrated platform for natural gas supply and a greater overall security of supply
Potential Member Countries of New Europe Transmission System (NETS)
Austria
Czech Republic
Italy
Hungary
Slovakia
Greece
Romania
Bulgaria
Turkey
Bosnia
Germany Ukraine
Moldova
Croatia
Slovenia
Serbia
Albania
Montenegro
Poland
Macedonia
Source Company Information
Review: NETS – The Concept
Status Report of NETS
Timing Action/Event Deliverables
15 November – 7 December, 2007
Bilateral technical discussions with TSOs of the reginon
(Phase I)
Briefing of NETS:
- Famililarization of the concept
7 December, 20007 Official Announcement of NETS
21 January, 2008 ERGEG GRI, Prague Overview of the NETS Concept -presented by Péter Horváth
14 January – 6 March, 2008 Bilateral technical discussions with TSOs of the reginon
(Phase II)
- Organization of Roundtable for TSOs
- Proposed workstreams to be discussed in a Roundtable of TSOs
11 February, 2008 Central European Natural Gas Summit 2008, Warsaw
Gas supply security challanges of New Europe – presented by Lajos Alács
5 March, 2008 FLAME, Amsterdam Establishing a regional unbundled infrastucture company – presented by Lajos Alács
13-14 March, 2008 1st Roundtable of TSOs co-organized with and hosted by Transgas SA, in Bucharest, Romania
- Alternatives of common operation in the future
- Proposed workstreams
June, 2008 Next proposed meeting of TSOs, in Siófok, Hungary
- Discussion of workstream meetings’ achievements
Participants of the 1st Roundtable of TSOs in Bucharest on 14-13th March, 2008
From left to right: Dabris Bucanac - Director of Corporate Functions, Plinacro, CroatiaVlad Pavlovschi - Transgaz SA, Director of Resources, Engineering and Regulation Division, RomaniaSasa Ilic - Acting General Manager, JP Srbijagas, SerbiaGoran Francic - Plinacro Director of Development Division, CroatiaBranko Radosevic – President of the Board, Plinarcro, Croatia Nadzina Ninkovic – BH-GAS, Executive Managaer, Bosnia-HercegovinaJános Zsuga – Chief Executive Officer,FGSZ Földgázszállító Zrt., HungaryVidmantas Jankauskas - Project Ambassador, Expert on Regulatory Issues, REKK, HungaryIoan Rusu – General Manager, Transgaz SA, RomaniaLászló Varró – Chief Economist, MOL GROUP, HungaryMichael Woltran – Managing Director, OMV GAS, AustriaMarko Ilersic - Head of Commerce and Finance, Geoplin Plinovodi, SloveniaIain Smedley - General Manager, Morgan Stanley – LondonOlivier Silla – Representative of DG TREN, EU
Issues Presented on the 1st Roundtable of TSOs in Bucharest
1. NETS: A Broader Perspective – by László Varró, Chief Economist, MOL GROUP
2. Case Study – Creation of Snam Rete Gas – by Domenico Siniscalco, Morgan Stanley
Dealing with financial and structural Issues
3. Alternatives of Common Operation – by Ian Smedley, Morgan Stanley
Proposed structure of workstreamsStudy company considerations
4. Businesss Strategy and Vision – by János Zsuga, CEO, FGSZ Zrt., MOL GROUP
Business visionBusiness strategy and objectivesAnalysis of synergy potential
5. Regulatory Issues – by Vidmantas Jankauskas, International Expert on Regulatory Issues
Review of possible regulatory stragegiesProposed regulatory frameworkLong term regulatory vision
6. Energy Policy and Public Affairs – by Ian Smedley,Morgan Stanley Governmental dialogue and external dimensionsManaging stakeholder communicationsPublic buy-in through public relations
7. Financial and Structural Aspects - by Ian Smedley,Morgan Stanley 8. Next steps to be taken - by László Varró, Chief Economist, MOL GROUP
Steering Committee
Business Vision and Strategy
Regulatory Energy Policy and Public Affairs
Financial and Structural
Company Representative Company
[ ] BH-Gas
[ ] Geoplin Plinovodi (?)
[ ] FGSZ Natural Gas Transmission, MOL GROUP
[ ] OMV Gas (?)
[ ] Plinacro
[ ] Srbijagaz
[ ] Transgaz SA
Achievements: Participants* mutually agreed to investigate NETS’ feasibility by establishing a Steering Committee and delegating representatives in the 4 proposed Workstreams as follows
POTENTIAL WORKSTREAM ORGANIZATION
Participants*: BH-Gas, FGSZ Natural Gas Transmission Zrt. - MOL GROUP, Plinacro, Srbijagaz, Transgaz SA
Summary of the Event: Common press release in 40 different local and regional media
At the end of the meeting Transgaz’s CEO Ioan Rusu stated: “This has been a tremendously successful meeting and a move forward for NETS, this one-of-a-kind initiative in Europe. It demonstrates the high level of business cooperation our companies are capable of, as well as the commitment to competitiveness we are aiming to achieve in the context of an integrated European energy market”.“It is a great honor for BH-Gas and me personally to attend today’s meeting. This event is of great importance for both BiH and BH-Gas, taking into account that the natural gas field in BiH is still developing compared to other companies in the region. The NETS initiative may lead to launching and implementing important development projects for us. Our plans focus on the development of gas infrastructure, in order to increase the capacity of existing transmission systems. At the same time we also concentrate on diversifying the transmission routes and supply sources as well as on constructing underground gas storage. By accomplishing such projects, BiH would increase the natural gas share in the energy mix from the present 7% to the forecasted level of 15% by the end of 2020” said Nadzida Ninkovic, Executive Manager BH-Gas, Bosnia-Herzegovina’s gas transmission company.“This is a great step forward for NETS, as seven of the regions’ leading companies have today said that they support the concept in principle and are interested in working together to see how it can best be turned into reality”, commented Dr János Zsuga, the CEO of MOL Natural Gas Transmission Plc. He added.““Plinacro supports the initiative for cooperation, interconnection and joining of TSOs in the region with the aim to find the answer to question and challenges which are to come. We have discussed possible concepts and models of cooperation and interconnection. We think this is an extremely demanding and ambitious project and that today we have made the first step in the right direction. We agree to establish working groups to deal with all aspects from their respective fields in a professional manner and give the exact data as well as the pros and cons, on the basis of which we may bring adequate decisions and propose solutions to our owners. Plinacro will participate in this project and will bring its contribution to it”, said Branko Radošević, President of Plinacro Board, the Croatian gas transmission company.“The meeting in Bucharest confirmed that NETS concept, that aims establishing an independent regional natural gas transmission company is extremely attractive for all participants. It woud help increase the efficiency of existing capacities, bringing benefits that could make each of the markets more reliable in terms of security of supply and growth. Of course, we are at the beginning of a long and challanging harmonisation process of national gas transmission systems, but we believe that the NETS project is feasible. Srbijagas will actively take part in the future steps connected to the NETS project”, said Sása Ilić, General Manager of Srbjgas.The meeting was honored by MrOlivier Silla from the European Commission Directorate for Energy and Transport, who stated: “The Commission supports this project, which provides increased co-operation between TSOs (Transmission System Operators) in a region which is a critical crossroad of many energy markets”. He added, “The Commission’s consideration and support for the project is based on two advantages inherent in the NETS concept: firstly, it is a concept that linking together EU members with not-, or future-EU members and secondly, that NETS can provide the necessary scale for infrastructure development which will enhance competition and security of supply at the same time”.
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2. Regional cooperation – Update
2.4. Cooperation of TSOs
OMV Gas
Move & More.
4th IG Meetingon 8 April 2008 in ViennaMoU between TSOVienna, April 8, 2008
31 |OMV Gas GmbH, 4th IG Meeting, 8 Apri 2008
Cooperation of TSO’s
Memorandum of Understanding, draft as of 7 April 2008 Draft as of 7 April 2008 has been sent out for comments Next steps: Exchange of comments and finalization
Topics of discussion Bulletin Board Investment and new capacity Product harmonisation Transparency Platform Interconnection Agreement, OBA
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3. Standardised bulletin board – Update
Contents used by TAG as best practice
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Status of implementation of bulletin boards
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Use of bulletin boards
Shippers have made very little use of the bulletin boards so far
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4. Status of conclusion of IPA at Baumgarten
Update to be provided by CEGH/TSOs
ICA (OBA)ICA (OBA)
ERGEGERGEG
April 8th 2008April 8th 2008
SPP System
BOG System
OMV Gas System
TAG System
SPP System
SPP System
Technical IA Agreements
Bilaterally concluded
Business IA
Multilateral AgreementSPP System
CEGH System
BOG System TAG System
OMV Gas System
Interconnection Agreement (OBA):
Contractual structure
Technical ICP Agreements
Bilaterally conclusion
Business ICP
Multilateral Agreement
OBA: Contractual structure
Sole purpose: Matching platform dealing with the overall nomination management between transportation and trading activities across the systems
Dealing with all technical issues: balancing account, metering methodologies, operation of metering stations between TSO`s
HUB central matching station in between Transportation Systems
TAGc
c
c
WAG
Regulatory Zone Austria
SPP
Wheeling storage
Whe
elin
gH
AG
Operational Efficiency• Beneficial development concerning utilization of
interruptible services (liquid hub is beneficial for interruptible services)– Efficient operation of nomination management
integrating the world of trade; (everybody can transfer gas to 66 counterparts within 2 hours lead time)
– In case of interruption any shipper can trade gas on a liquid hub within 2 hours lead time
– full integration of storage quantities into the trading activities (wheeling) and shipping activities (more possibilities for shippers to manage interruptible transportation )
Commercial Efficiency• TSOs obtain free membership at CEGH platform• TSOs have access to Bulletin Board free of charge
– (used already twice by TSOs)
• No fees for shippers! buying or selling at the CEGH• No fees for TSOs buying or selling gas at the hub
– CEGH to be developed as balancing point
• TSOs and shippers will have access to future stock exchange (spot market)
• Transparency is guaranteed by E – Control, Financial authorities (Austrian Financial Markets Supervisory Agency )
Tariff scheme: comparison CEGH - Zeebrugge
Zeebrügge: Title Tracking Fee
100 100100 100
buy exitentry sell sell buy
100 100
Minimum fee € 2500/month
0,02121 €/MWH
0,00636€/MWH
0,00424 €/MWH
Volume< 3.333.333 MWh
Volume< 10.000.000 MWh
Volume> 10.000.000 MWh
Minimum fee € 2500/month
0,02121 €/MWH
0,00636€/MWH
0,00424 €/MWH
Volume< 3.333.333 MWh
Volume< 10.000.000 MWh
Volume> 10.000.000 MWh
Minimum fee € 2500/month
0,02121 €/MWH
0,00636€/MWH
0,00424 €/MWH
Volume< 3.333.333 MWh
Volume< 10.000.000 MWh
Volume> 10.000.000 MWh
Minimum fee € 2500/month
0,02121 €/MWH
0,00636€/MWH
0,00424 €/MWH
Volume< 3.333.333 MWh
Volume< 10.000.000 MWh
Volume> 10.000.000 MWh
CEGH Title Transfer Service Fee
buysell
Free of charge
Free of charge
sell buy
Fixed monthly term:
€1,000
shipper shipper
0.02 €/MWH
0.012€/MWH
0.006 €/MWH
Volume< 3,333,333 MWh
Volume> 3,333,333 MWh
Volume> 10,000,000 MWh
Volume< 10,000,000 MWh
0.02 €/MWH
0.012€/MWH
0.006 €/MWH
Volume< 3,333,333 MWh
Volume> 3,333,333 MWh
Volume> 10,000,000 MWh
Volume< 10,000,000 MWh
SPP System
BOG System
OMV Gas System
TAG System
SPP System
SPP System
Technical IA Agreements
Bilaterally conclusion
Business IA
Common agreement
SPP System
Service provider CEGH System
BOG System TAG System
OMV Gas System
Interconnection Agreement (OBA):
Revised ICA - Concept
If CEGH would be 100% subsidiary of OMV GAS there would be no resistance integrating trade activities
Since GAZPROM will be participating in CEGH, there seems to be some reluctance in this respect
Shareholders will enter into discussions these days
Future approach
Thank you for your attention
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5. Implementation of EASEE-gas CBPs in the region
Presentation by EASEE-gas
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6. Infrastructure development
Analysis of infrastructure projects in the region regarding untilization, market integration and consequences on flows on existing transmission pipelines
● Nabucco● South Stream● Italy-Greece-Interconnector (Poseidon)● Trans Adriatic Pipeline (TAP)● LNG-Terminal in Krk● GALSI● Projects identified in the Gasification Study
Can TSOs provide this information?
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6. Sample Analysis Nord Stream pipeline
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6. Infrastructure development
Potential WAG expansionand related coordination with adjacent TSOs - Presentation by BOG GmbH
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7. Strategic advisory panel
Purpose: to achieve greater level of stakeholder involvement and commitment
A senior representative of each group of stakeholders (e.g. from TSOs, traders, suppliers, ministries,...) should form part of the panel
Task: the main task of the panel would be to define the strategic topics to be dealt with within the region and to set priorities for future work
Strategic advisory panel has been set up in the NW region(‘Programme Board’)
Suggestion:To create such a panel also in the ERGEG GRI REM SSE
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Strategic advisory panel
Regional Co-ordination Committee (RCC)
Regional Co-ordination Committee (RCC) Implementation GroupImplementation Group Stakeholder GroupStakeholder Group
RegulatorsGovernmentsEuropean Commission
RCC members+TSOs Hub operatorsStorage operators
IG members+Representatives of:
consumers (IFIEC)traders (EFET)suppliers (Eurogas)distributors
Strategic advisory panelStrategic advisory panel
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Update transparency monitoring 2007 – 1
The transparency monitoring report carried out in 2007 found the following main areas of non-compliance of the Austrian TSOs:
Requirement of the Gas Regulation
Austria
1 General
1_1 Name of TSO TAG OGG BOG
3 TPA services
3_3Does the TSO offer the following services online
Capacity booking 0,00 1,00 1,00
Nomination and re-nomination procedures
0,00 1,00 1,00
Transfer of capacity rights 0,00 0,00 0,00
Information on the balancing status of network users
0,00 1,00 1,00
7 Technical information
7_5Rules applicable for connection of infrastructure to the system of the TSO
Rules applicable for connection of infrastructure to the system of the TSO
0,00 3,00 0,00
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5. Update transparency monitoring 2007 – 2
8 Capacities
8_1
Does the TSO publish for all relevant points including entry and exit points the maximum technical capacity
for daily periods? 0,00 1,00 1,00on a numerical basis? 1,00 1,00 1,00on a regular/rolling basis? 1,00 1,00 1,00in a standardised manner? 1,00 1,00 1,00online? 1,00 1,00 1,00without charge? 1,00 1,00 1,00
8_5Does the TSO publish for all relevant points the total contracted interruptible capacity
for daily periods? 0,00 2,00 0,00on a numerical basis? 1,00 2,00 0,00on a regular/rolling basis? 1,00 2,00 0,00in a standardised manner? 1,00 2,00 0,00online? 1,00 2,00 0,00without charge? 1,00 2,00 2,00
9 Exemptions
9_1
Does the TSO limit publication of information on the capacity situation for certain points of his system due to the Application of the “3 minus shipper rule” [see Art. 6.5 of the Regulation]
0,00 0,00 0,00
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5. Update transparency monitoring 2007 – 3
Steps taken by E-Control to arrive at full compliance:
October 2007 E-Control requested TAG, OMV Gas and BOG to give reasons for not
implementing the requirements as stated in the ERGEG Monitoring Report
November 2007 E-Control specified request by pointing to the main areas of non-compliance
E-Control set date (31 January 2008) until the TSOs shall have implemented the requirements not yet implemented
February 2008 Requirements have been implemented by the TSOs
OMV Gas: request for application of the 3-minus-rule at one relevant pointProcedure ongoing
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5. Update transparency monitoring 2007 – 4
ERGEG to present update of monitoring at 14th Madrid Forum Areas where improvements have been made
Regulatory intervention triggering improvements
Sanctions imposed by NRAs to ensure compliance
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8. Closure
Any other business?
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7. Date and location of next meeting
A DATE TO BE NOTEDin YOUR diaries!
Next RCC Meeting:Monday, 09/06/2008, 14.00 - 17.00
Next SG Meeting:Tuesday, 10/06, 10.00 - 16.00
Both at Hotel Divani-Acropolis, Athens, Greece
Special room rates available!
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Conclusions and Outlook
[to be added]