The EU's Third Energy Package is a legislative package for an internal gas and electricity market in the European Union. Its purpose is to further open up the gas and electricity markets in the European Union. The European Parliament and the Council of the European Union adopted the package in July 2009. It entered into force on 3 September 2009. Please visit the EUR-lex website for more information.
The establishment of the Single Electricity Market (SEM) in Ireland in 2007 is recognised as a significant contribution to the construction of an internal energy market. SEM is evolving in a gradual manner. Industry consultation is an integral part of the process of ongoing development. Developments in the overall configuration of the SEM take place in the context of the development of EU rules. The European Target Model is a development flowing from the Third Energy Package. Please visit here for further information on Ireland's EU compliant solution. Regulation 714/2009 sets out one of the primary tasks of ENTSO-E in developing network codes in 12 areas. ENTSO-E is the European Network of Transmission System Operators. The EU's Third Legislative Package established ENTSO-E.
The Third Energy Package consists of two Directives and three Regulations;
Directive 2009/72/EC concerning common rules for the internal market in electricity and repealing Directive 2003/54/EC.
Directive 2009/73/EC concerning common rules for the internal market in natural gas and repealing Directive 2003/55/EC.
Regulation (EC) No 714/2009 on conditions for access to the network for cross-border exchanges in electricity.
Regulation (EC) No 715/2009 on conditions for access to the natural gas transmission networks.
Regulation (EC) No 713/2009 establishing an Agency for the Cooperation of Energy Regulators.
The Third Energy Legislation package established a new unbundling regime. It more clearly defined the duties of national regulatory authorities, including cooperation with the Agency for the Cooperation of Energy Regulators (ACER). It improved consumers' rights and provided a number of measures for the functioning of the internal energy market. It also promoted regional solidarity and national emergency measures in the event of severe disruptions of gas supply.