News

MEDREG champions energy investment in the Mediterranean basin

20-12-2011

The Association of Mediterranean Regulators for Electricity and Gas (MEDREG) has held its 12th General Assembly meeting, hosted by the Greek Regulatory Authority for Energy (RAE) in Athens. Among the key decisions taken was the establishment of a Task Force on Infrastructure Investments, aimed to support energy sector stakeholders in the region.
 
With the growing global energy demand, the Mediterranean basin currently hosts some of the most important producer and consumer countries, as well as several key transit countries (both current or potential) for energy raw materials. MEDREG plays a fundamental role for the region, a press release said, working to facilitate investment in infrastructures, as well as support increased efficiency and integration for energy markets.
 
In this framework MEDREG, representing an institutional bridge between the European Union and the southern shores of the Mediterranean, is becoming increasingly involved in the development of strong institutional partnerships at both an international and a regional level, based on quality dialogue and reciprocal exchange of experiences, in order to become a valuable support tool to help promote effective cooperation between countries in the region.
 
Consumer protection is also becoming a major issue in Mediterranean countries. For this reason MEDREG will further develop its action and will focus more on this crucial subject, the press release said.
 
MEDREG took advantage of the General Assembly to launch its Task Force on Infrastructure investments. The Task Force was created as internal observatory that can provide a regulatory analysis of future investments in the area for the medium-long term, by building up a permanent dialogue with energy sector stakeholders and Institutions. In order to contribute to finance future investments in the Mediterranean, the press release said the EBRD (European Bank for Reconstruction and Development) would be further expanding its mandate towards this area, having the capital capacity to invest eventually up to around €2.5 billion per year, as announced by Riccardo Puliti, the EBRD’s Managing Director, Energy and Natural Resources.
 
The Assembly also provided an opportunity to review the current state of affairs regarding the activities of the working groups and task forces. The Members adopted a set of recommendations in view of the harmonisation of rules governing electricity cross-border interconnections, as well as a report on third-party access to gas infrastructures. MEDREG is also promoting a strategic reflection on the development of smart electricity grids in the Mediterranean region.
 
Nadjib Otmane, President of MEDREG, and Chairman of the Algerian Regulatory Commission for Electricity and Gas (CREG), underlined the important contribution of the ad hoc group on Renewable energy sources, focusing on the possibility to foster the electricity exchange between the two shores of the Mediterranean.
 
MEDREG is an Association bringing together the national Mediterranean Regulators for Electricity and Gas. It is co-financed by the European Union, with the purpose of promoting clear, stable and harmonised legal and regulatory frameworks, facilitating investments, infrastructures and interconnections developments, efficiency and integration of the energy markets, based on secure, safe, cost-effective and environmentally sustainable energy systems in the Mediterranean basin. (ENPI Info Centre)
 
Read more
 
Press release
 
MEDREG – fiche and news
 
MEDREG website
 
ENPI Info Centre webpage – energy
 

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