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#Energy & Sustainability

A target model for the European gas market

  • November 7, 2012
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Document(s)
POLICY PAPER | A target model for the European gas market
The European gas market is facing tremendous long-term challenges that are likely to subsist even after the implementation of the 3rd package. This CERRE Energy & Climate policy paper provides prospective recommendations on these issues.

Based on the conclusions of a high level seminar held in Brussels on 13 September 2012, which has benefited from the participation of a wide array of key stakeholders from the European Commission, national government, regulators and industry, as well as academic experts in the field. Its main conclusions are that :

  • Regulatory stability is paramount to garantying the subsistance of long-term contracts, necessary to the continued availability of infrastructure financing;
  • The European regulatory environment will inevitably lead to a greater role for the centralised “planning approach” to new investments, to the detriment of a more market-oriented approach;
  • Many issues still need to be resolved between the EU and its main suppliers (e.g. Russia). A carefully balanced mix of policies will be required to this end (diplomacy, competition policy, etc.).
Author(s)
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Guido Cervigni
Guido Cervigni
Bocconi University

Dr Guido Cervigni is Researcher Director at IEFE, Bocconi University. He is an economist and former regulator, who provides qualitative and quantitative analyses on regulatory and competition-related issues, with a particular focuson energy markets. As a member of the System Operation Expert Group advising the European Regulators’ Group for Electricity and Gas (ERGEG), he has been involved in the development of the EU framework guidelines on System Operations. Guido is a former Director at LECG Consulting, Head of Business Development in an energy trading company and Head of Market Development at the Italian Power Exchange. Guido started his career at the Italian Energy Regulatory Authority, where he was Head of the Competition and Markets Division. Guido Cervigni holds a PhD in economics from IEFE, Bocconi University, Milan.

Dr Guido Cervigni is Researcher Director at IEFE, Bocconi University. He is an economist and former regulator, who provides qualitative and quantitative analyses on regulatory and competition-related issues, with a particular focuson energy markets. As a member of the System Operation Expert Group advising the European Regulators’ Group for Electricity and Gas (ERGEG), he has been involved in the development of the EU framework guidelines on System Operations. Guido is a former Director at LECG Consulting, Head of Business Development in an energy trading company and Head of Market Development at the Italian Power Exchange. Guido started his career at the Italian Energy Regulatory Authority, where he was Head of the Competition and Markets Division. Guido Cervigni holds a PhD in economics from IEFE, Bocconi University, Milan.

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