The European Commission publishes an annual progress report on the internal energy market for electricity and gas, and the implementation of EU law.
The report for 2014 found that energy market integration has already delivered many positive results. For example:
- wholesale electricity prices declined by one-third and wholesale gas prices remained stable between 2008 and 2012
- consumers have more choices when it comes to picking an energy supplier
- many missing infrastructure links between EU countries have been built or are under construction
- cross-border trade in gas and electricity between EU countries has increased. Gas pipelines are also being used more efficiently thanks to common rules on the use of gas networks
- EU legislation makes sure that energy companies cannot exclude competitors from access to pipelines or withhold the construction of important infrastructure. EU rules also guarantee fair trading on wholesale markets and prevent price manipulation
At the same time, the report argued that further steps were needed to complete the internal energy market. In particular:
- more investments in infrastructure including smart grids should be made. In gas, these investments should focus on ending the isolation of the Baltic States and diversifying suppliers for countries in Eastern Europe. In electricity, investments should focus on linking the grids of the Iberian Peninsula, the Baltic region, and Ireland and the United Kingdom. By 2020, three quarters of the EU's infrastructure projects of common interest should be completed
- the implementation of the same set of simple, harmonised rules across Europe for electricity infrastructure
- government intervention should only happen when secure energy flows cannot be guaranteed by the market
- a stronger emphasis on regional cooperation to bring faster results and to better address local needs
- consumers should become more active players in the energy market (i.e. through smart meters that allow them to monitor and adjust their energy consumption)
- retail and wholesale markets should be better linked so that lower wholesale prices lead to lower consumer prices
Annex I: Trends and Developments in EU Energy Markets 2014
Annex II: Country profiles
Annex III: Unbundling - Report on the functioning of the ITO-model
Annex IV: Investments in the EU
Annex V: Investments: Implementation of EEPR, PCI and TEN-E
Annex VI: Enforcement
Country profiles provide an overview of the energy sector in individual EU countries. They include information on a country's energy mix, wholesale and retail markets, and infrastructure.
The latest profiles are from 2014.