By Elaine Gibson-Bolton and Rahul Saha, King & Wood Mallesons’ London Office
This article provides an overview of the unbundling obligations under the European Union (“E.U.”) Third Energy Liberalisation Reform Package (“the Third Directive” or the “Third Package”) as applied to Transmission System Operators (“TSOs”) and describes the Great Britain (“GB”) reforms to these rules, following a 2013 European Commission working paper.
The Third Directive, introduced by the Commission in 2009, actually comprises two directives: Directive 2009/72 concerning common rules for the internal market in electricity1[i] (the “Electricity Directive”); and Directive 2009/73 concerning common rules for the internal market in natural gas[ii] (the “Gas Directive”). E.U. Member States were required to implement the directives by 3 March 2011[iii]except for the provisions on unbundling TSOs, where Member States were given until 3 March 2012 for implementation.[iv]
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