MEDREG
is supported by the
European Union
www.medreg-regulators.org
[email protected]
MEDREG is supported by
the European Union
Mediterranean Forum
on Energy Regulation
REGULATION & INVESTMENTS:
SOLUTIONS FOR THE
MEDITERRANEAN REGION
26 November 2014
DESIGN: www.villaberto.it
Hotel Melia Sky
BARCELONA (SPAIN)
Mediterranean Forum on Energy Regulation
MEDREG Forum
MEDREG is an Association that brings together energy regulators of
21 countries around the Mediterranean in order to promote a clear,
stable and harmonized legal and regulatory framework through a
continuous cooperation among the Northern, Southern and Eastern
shores of the Mediterranean basin. MEDREG’s Secretariat is located in
Milan, hosted by AEEGSI, the Italian Regulatory Authority for Electricity,
Gas and Water.
Visit www.medreg-regulators.org
» Mediterranean countries are facing unprecedented challenges in the energy sector
which affect the whole region. Energy regulation is key to tackle these challenges
and foster the socio-economic development by providing favourable conditions for
infrastructure investments, improving security of supply and customers protection.
» MEDREG, the only association representing independent public authorities in the
electricity and gas sector, launches the first edition of this Forum dedicated to
“Regulation & Investments: Solutions for the Mediterranean Region” to be
held on 26 November 2014 in Barcelona (Spain).
» The Forum is an occasion to review the current state of thinking on the relationship
between energy regulation and investments, to identify the main challenges and
risks and see how they can be addressed both at regional and sub-regional level.
The expected outcomes are concrete and practical proposals for energy regulation
in the Mediterranean.
» MEDREG gathered a high-level Scientific Committee to design the programme
of the Forum and advise on the selection of speakers. The Scientific Committee
revised the contributions presented to the Forum, ensuring the overall coherence of
the contents delivered during the event.
The findings, conclusions
and interpretations expressed
in this document are those
of MEDREG alone and should in no way
be taken to reflect the policies
or opinion of the European Union
Mediterranean Forum on Energy Regulation Programme
Programme
07.45 Registration of participants
OPENING CEREMONY
08.15 Introduction
» Michel Thiollière
MEDREG President, CRE
08.30 Keynote Speech
» Ignacio Perez Arriaga
University of Comillas & MIT
09.00 · 11.05 TABLE I
WHAT ROADMAP FOR A MEDITERRANEAN
ENERGY COMMUNITY?
Chair
» Jean-Michel Glachant (FSR)
Speakers
» Simone Tagliapietra (FEEM)
The future of renewable energy in the
Mediterranean: Translating potential into reality
» Mariano Marzo (University of Barcelona)
Natural gas in the Mediterranean region:
reserves, production, trade, interconections
and security of supply
» Branislav Prelevic (ECRB President)
Investment Incentives in the Electricity Network
Activities of the South East Europe as a Model
for Developing Regions
External Discussant
» Gonzalo Escribano (Elcano Royal Institute)
MEDREG Discussant
» Luigi Carbone (MEDREG Permanent
Vice-President, AEEGSI)
Open discussion with MEDREG members and
participants
Floor interventions
» Hisham Khatib (World Energy Council)
Regulatory challenge in the Mediterranean
11.05 · 11.20 Coffee break
11.20 · 13.25 TABLE II
HOW TO FACE THE CHALLENGE
OF MARKET-BASED REGULATION?
Chair
» Maria Vagliasindi (World Bank)
Speakers
» Alessandro Rubino (University of Bari)
Assessing the EU pressure for future
Mediterranean energy markets:
Results from a perception survey
13.30 · 14.30 Lunch
14.30 · 16.15 TABLE III
WHERE TO FIND THE MONEY
TO BUILD GRIDS AND SUPPORT
GENERATION PROJECTS?
Chair
» Ernesto Somma (University of Bari)
Speakers
» Tareq Emtairah (RCREEE)
Power Market Structure and Renewable Energy
Deployment: The experience from MENA region
» Rafik Missaoui (ALCOR)
Financing energy generation projects:
Case of renewable energies in the southern
Mediterranean countries
16.15 · 16.30 CLOSING CEREMONY
» Christopher Jones
Deputy Director General DG ENERGY,
European Commission
16.30 · 17.45 CLOSING ROUNDTABLE
Chair
» Maria Teresa Costa-Campi
Professor of Energy Sustainability
at the University of Barcelona
Speakers
» Michel Thiollière
Mediterranean Energy Regulators
(MEDREG President)
» Alberto Ponti (Société Générale)
Investing in infrastructure: what financial
markets want
» Noureddine Boutarfa
Transmission System Operators of the
Mediterranean Basin
(Med-TSO President)
» Hafez El Salmawy (MEDREG Vice-President,
EgyptEra)
» Alain Regnier
(MEDELEC Secretary General)
» Pedro Mejia (OMIE)
Benefits from market coupling in terms of social
welfare
External Discussant
» Alain Regnier (MEDELEC)
» Alessandro Rubino
Renewables for the Mediterranean
(RES4MED)
» Riku Huttunen (CEER)
Northern perspective: Developing markets round
the Baltic Sea
Open discussion with MEDREG members
and participants
» Teresa Ribeiro
Union for the Mediterranean
(UfM Deputy Secretary General for Energy)
External Discussant
» Natàlia Caldés Gómez (CIEMAT)
Floor interventions
» Ernesto Bonafé (Energy Charter)
The International Energy Charter
» Pantelis Capros (Univesity of Athens)
Analysis of future MENA-EU common strategy in
the energy sector
MEDREG Discussant
» Fazil S¸enel (MEDREG Vice-President, EMRA)
Open discussion with MEDREG members
and participants
17.45 · 19.00 Networking cocktail
Mediterranean Forum on Energy Regulation Biography
» SCIENTIFIC COMMITTEE
CHAIR
» Maria Teresa COSTA-CAMPI
Professor of Energy Sustainability at the University of Barcelona
Ms. Costa-Campi is a Doctor of Economic Science and Professor of
Economics at the University of Barcelona (UB). Currently she is Director of
the Chair of Energy Sustainability at the University of Barcelona, a post held
since 2012, and has been General Coordinator of the FUNSEAM project
since 2013. She has been President of the National Energy Commission
(2005-2011), President of the Association of Energy Regulators
(2005-2012), President of the Iberian Electricity Market (MIBEL)
(2006-2007), Vice President of MEDREG (2010-2011), Member of the European Regulators Group
for Electricity and Gas (ERGEG) (2005-2011), Member of the Board of Regulators of the Agency for
Cooperation of Energy Regulators (ACER) (2010-2011). She has published over 140 research
studies and scientific papers in specialist journals and books and participated in collective works.
MEMBERS
» Hafez EL SALMAWY
Managing Director, EgyptEra, Egypt
Dr. El-Salmawy received his PhD from Cairo University in 1991. He has been
appointed to serve as the Managing Director of the Egyptian Electric Utility and
Consumer Protection Regulatory Agency (EgyptEra) in 2006. He is the
chairman of the Electricity Working Group of MEDREG, as well as of the
Regional Association for Energy Regulators in East and South African Countries
“RAERESA”. He published over 40 scientific papers in many international
journals and conferences in addition to several reports and manuals.
» Claude MANDIL
Former IEA General Director
Mr. Mandil served a four-year term from to 2003 to 2007 as Executive
Director of the International Energy Agency. Before joining the IEA in 2003,
Mr. Mandil was Chairman and CEO of the Institut Français du Pétrole and,
previous to that, Managing Director of Gaz de France and Energy
undersecretary in the French Government. Now retired, Claude Mandil is
advising governments, companies and organizations in the domain of
energy policy.
» Ilhan OZTURK
Professor of Energy Economics at Cag University, Turkey
Mr. Ozturk is currently working as Associate Professor at Cag University,
Mersin, Turkey. His research interests include energy economics and
international economics. He published over 80 papers in international
journals such as Energy Economics, Energy Policy, Applied Energy,
Renewable and Sustainable Energy Reviews, Ecological Indicators, and
participated in many international conferences. Mr. Ozturk has been invited
as a Keynote Speaker in several international conferences. He is the editor
of IJEEP and IJEFI and he has been member of editorial board in many international journals.
» Pippo RANCI
Florence School of Regulation
Mr. Ranci is Professor of Economic Policy, Università Cattolica, Milano
(1991-2004). He acted as President of the Regulatory Authority for
Electricity and Gas (1996-2003) and vice president in the Council of
European Energy Regulators (2001-2003). He also served as Director of the
Florence School of Regulation at the European University Institute
(2004-2008). He has been President of the Supervisory Board at A2A spa
(2012-14). Mr. Ranci holds a degree in Economics from the Università
Cattolica (1961) and a master’s degree from the University of Michigan (1966).
» José SIERRA
Former Commissioner of the Spanish energy regulator
Mr. Sierra holds a PhD degree from the School of Mines of Madrid, a DIC
from the Imperial college of London, and a PADE on Business Administration
from IESE. He was CEO of ADARO (national exploration company), Executive
Chairman of CARBOEX , and Director of TIGF. At present, he is non-executive
Director of Emed Mining and non-executive Chairman of Emed Tartessus.
Mr. Sierra was Director General of Mines of Spain, Director of Coal, Oil, and
Gas at the European Commission, Commissioner at the CNE (now CNMC),
Member of CEER, ERGEG, and Deputy Independent Member of the SEM Committee of the Island
of Ireland.
Mediterranean Forum on Energy Regulation Biography
» MEDREG SPEAKERS
» Michel THIOLLIÈRE
MEDREG President
Mr. Thiollière was mayor
of Saint-Etienne from
1994 to 2008, and was
elected senator of the
Loire in 2001.
Vice-president of the
Committee on Culture,
Education and Communication of the Senate
in 2004, rapporteur of copyright laws in 2006,
of Creation and Internet law (known as
HADOPI I and HADOPI II) in 2008-2009 and
the public broadcasting reform (2009). In
March 2010 he was appointed Commissioner
of the French National regulatory authority
(Commission de régulation de l’énergie, CRE)
by the President of the Senate. Since February
2011 he is Vice President of the Council of
European Energy Regulators (CEER). Since
November 2012 he is President of MEDREG.
» Luigi CARBONE
MEDREG Permanent Vice-President
Mr. Carbone is a
Divisional President of
The Supreme
Administrative Court of
Italy (Consiglio di Stato).
He was appointed on
February 2011 as a
commissioner of the Italian Regulatory Autority
for Electricity, Gas and Water. In most of his
activities, at the national and international
level, he has dealt with the topic of regulatory
reform. Among his other jobs, he has been
Deputy Secretary General of the Italian Prime
» SPEAKERS
Minister, Executive Chair of the Regulatory
Simplification Unit of the Italian Prime
Minister’s Office, member of a high-level
group of independent experts for regulatory
and administrative simplification set up by
Confindustria, the main Italian Business
Association. At international level, he is
actually Chair of the recently established
Network of Economic Regulators (NER) at the
OECD.
» Fazil S¸ENEL
MEDREG Vice-President
Mr. S¸enel is high
Commissioner / board
member at EMRA
(Energy Market
Regulatory Authority,
EPDK). He was
Chairman and General
Manager of BOTAS¸, Turkey’s state-owned oil
and gas pipeline company. Mr. S¸enel’s varied
career has spanned the oil, natural gas,
energy, and automotive industries. Mr. S¸enel
holds a Bachelor’s degree from Istanbul
Technical University’s Faculty of Mechanical
Engineering, and Master’s degree in
Mechanical Engineering at Iowa State
University.
» Hafez EL SALMAWY
MEDREG Vice-President
See Scientific Committee section.
» Ernesto BONAFÉ
Energy Charter
Mr. Bonafé is a trade
expert at the Secretariat
of the Energy Charter
Treaty. He focuses on
energy market reform,
regional integration and
international relations.
He was a legal expert in the EU-project ‘Paving
the Way for the Mediterranean Solar Plan’.
Previously, Mr. Bonafé was training coordinator
for energy regulators at the Florence School of
Regulation. He also worked as legal counsel in
law firms in Valencia (Spain) and Brussels
(Belgium) and acquired professional experience
at the European Commission and the European
Court of Justice of Luxembourg. Mr. Bonafé
holds a PhD from the European University
Institute of Florence (Italy) and a LLM from the
Université Libre de Bruxelles (Belgium).
» Noureddine BOUTARFA
MED-TSO
Mr. Boutarfa is chairman
and CEO of Sonelgaz
Holding since 2004, a
company of the
Sonelgaz Group whose
subsidiaries are
primarily involved with
the generation, transmission, and distribution
of electricity, the transmission and distribution
of natural gas, building infrastructure for the
energy sector, and research and development.
In 2004, he chaired the Maghrebian
committee for electricity (COMELEC) which
includes the electricity companies of the
Maghreb countries. In April 2012, he was
elected as the first president of the Association
of Mediterranean Transmission system
operators (Med-TSO). Noureddine Boutarfa
chairs the Algerian Energy Committee member
of the World Energy Council (WEC).
» Natàlia CALDÉS GÓMEZ
CIEMAT
Dr. Natàlia Caldés is a
senior researcher at the
Energy Systems Analysis
Unit of CIEMAT, the
Spanish Government
Research institute on
Energy, Environment
and Technology. Since 2012 she is
coordinating the EU funded project BETTER
which aims at assessing the opportunities and
barriers associated to renewable energy
cooperation between Europe and neighboring
countries. Prior to CIEMAT, she worked in the
field of development economics for various
United Nations agencies and the International
Food Policy Research Institute (IFPR) in
Washington DC. She holds a PhD in
Agricultural and Natural Resources Economics
by the Polytechnic University of Madrid, a MsC
in Applied Economics by the University of
Wisconsin-Madison (USA) and a BA in
Economics and Business Administration from
Universitat Pompeu Fabra in Barcelona.
Mediterranean Forum on Energy Regulation Biography
» SPEAKERS
» Pantelis CAPROS
Univesity of Athens
Mr. Capros is a
Professor of Energy
Economics and
Operation Research at
the National Technical
University of Athens and
the Director of
Energy-Economy-Environment Modeling
Laboratory (E3MLab). He has more than 25
year’s professional experience of consultancy
in the topic of energy and economic policy. He
combines economic analysis with a thorough
engineering evaluation and support of
technology forecasting in the energy domain
and focus on quantitative economic analysis
and directly support economic, energy and
environmental policy for the European Union
and other world regions.
» Tareq EMTAIRAH
RCREEE
Dr. Emtairah has more
than 15 years of
experience in
sustainability,
environmental
socioeconomics, energy
policies management,
and transition management fields combining
both corporation and public authority
perspectives. His professional experience
includes resource efficiency implementation in
industrial operations, performance evaluation,
policy research, capacity building, business
development, and project management. He
started several initiatives to promote renewable
energy and energy efficiency in different
regions. Moreover, he co-founded a
sustainability reporting venture and
participated in various committees and
research groups on standardization of
sustainability performance evaluation.
» Gonzalo ESCRIBANO
Elcano Royal Institute
Mr. Escribano is the
Director of the Energy
Programme at the
Elcano Royal Institute for
International Studies,
and professor of applied
economics at the
Spanish Open University (UNED), from which he
holds a MA in International Trade. He has
lectured in several foreign universities and
programs, and has participated in research
programmes like the EU’s VIIth Framework
Program, the European Commission’s FEMISE
programme, and awarded the 2007 Spanish
Economic and Social Council research prize.
His research agenda focuses on the
international political economy of energy and
the economic dimension of Euro-mediterranean
relations, with a focus in North Africa.
» Jean-Michel GLACHANT
FSR
Mr. Glachant is Director
of the Florence School
of Regulation and Holder
of the Loyola de Palacio
Chair at the European
University Institute in
Florence. He is a
professor in Economics and holds a PhD from
La Sorbonne University. He is or has been
Advisor to DG TREN, DG COMP, DG Research
and DG ENER of the European Commission
and Coordinator/Scientific Advisor of several
European research projects like THINK, SESSA,
CESSA, Reliance, EU-DEEP, RefGov, TradeWind,
Secure and Optimate. He is a research partner
of CEEPR, (MIT, USA) and EPRG (Cambridge
University, UK). He is editor-in-chief of EEEP:
Economics of Energy & Environmental Policy.
Senior Adviser on EU State aid and competition
issues, at the Ministry of Trade and Industry
from 1992 to 2000.
» Hisham KHATIB
World Energy Council
Dr. Khatib was Chairman
at the Jordan Electricity
Regulatory Commission,
and Honorary Vice
Chairman of the World
Energy Council. Over the
last years, Dr. Khatib was
a Minister in the Government of Jordan in many
portfolios – planning, water and energy. In 1998
he was awarded the “Medal of Achievement” of
the Institution of Electrical Engineers in the UK.
In the World Energy Congress in Rome 2007,
Dr. Khatib was awarded the highly prestigious
“Global Energy Award” by the World Energy
Council. He is a Life Fellow of the IEEE.
» Riku HUTTUNEN
CEER
Mr. Huttunen is General
Director of the Finnish
Energy Authority since
2011 and Co-chair of
CEER International
Strategy Group since
2013. He was Deputy
Director General responsible for nuclear
energy and EU energy policy issues at the
Ministry of Employment and the Economy from
2005 to 2011. Mr. Huttunen was Counsellor
(Energy, Industry and Competition) at the
Permanent Representation of Finland in the
EU, from 2000 till 2004. Moreover he was
» Mariano MARZO
University of Barcelona
Mr. Marzo is full
professor of Stratigraphy
at the Faculty of Geology
of the University of
Barcelona where he
teaches Petroleum
Geology and Energy
Resources. He is member of the American
Association of Petroleum Geologists and of the
European Association of Petroleum
Geoscientists & Engineers. Mr. Marzo is actively
involved in several advisory panels on energy
Mediterranean Forum on Energy Regulation Biography
» SPEAKERS
issues working for the Spain, Catalan and Vasc
Governments. He is a regular collaborator of
“La Vanguardia” and an occasional contributor
on energy issues to the main Spain’s media.
» Pedro MEJIA
OMIE
Mr. Mejía Gómez is
Chairman and CEO of
the Iberian Energy
Market Operator (OMEL)
and Chairman of the
Iberian Energy CCP
(OMIClear). He has also
been appointed, in November 2011, as
Executive Vice Chairman of the two Iberian
Market management companies: OMIE (spot
market operator) and OMIP (future and
derivatives markets operator). He is full member
of the High Level Steering Committee of the
Price Coupling of Regions project (PCR) and is
Co-Chair of the Joint Steering Committee for
the Multiregional Coupling (MRC).
» Rafik MISSAOUI
ALCOR
Mr. Missaoui is an
energy and climate
change Expert, Rafik
Missaoui was basically
trained as an Industrial
Engineer, and completed
his education by a
master degree in economics and PhD in
industrial engineering and management of
innovation. With more than 20 years
professional experience, he specially acquired
large experience in renewable energy, energy
efficiency and climate change, particularly in
investments and financing issues.
» Ignacio PEREZ ARRIAGA
University of Comillas & MIT
Mr. Perez Arriaga holds a
MS and PhD in Electrical
Engineering from MIT,
and Electrical Engineer
from Comillas University
in Madrid, Spain. Since
2008, he is visiting
professor at the Center for Energy and
Environmental Policy Research (MIT, Boston,
USA). He also was Independent Member of the
Single Electricity Market Committee of Ireland
from 2007 to 2012 and Commissioner at the
Spanish Electricity Regulatory Commission
from 1995 to 2000. He is life member of the
Spanish Royal Academy of Engineering and
fellow of IEEE, as well as member of the Board
of Appeal of the EU Agency for the
Coordination of Energy Regulators (ACER). He
is also Director of Training at the Florence
School of Regulation in the European University
Institute (Florence, Italy).
» Alberto PONTI
Société Générale
Mr. Ponti joined Société
Générale in 2010 to head
the Pan-European utilities
Team in Equity Research
and also coordinates to
joint research effort with
the Commodities Team.
On top of equity research, over the past twenty
years he specialized in modeling power markets
in Europe with current interests mainly focusing
on capacity mechanisms. Before Société
Générale Alberto spent ten years at Citigroup
where he ranked individually #2 in Europe and
his team 1st from 2000 to 2008 by Extel and
Institutional Investors. At present he covers
German and Italian stocks while also being
responsible for the sector strategy. Before that,
he worked for three years for Flemings and LEK
partnership. Mr. Ponti holds a Degree in
Economics (Econometrics) from L. Bocconi
University (Milan).
» Branislav PRELEVIC
ECRB
Mr. Prelevich is
chairman of the Energy
Community Regulatory
Board (ECRB) from
December 2013 to
present. He is also
Chairmen of the Board
of the Energy Regulatory Agency of
Montenegro (RAE) since April 2013.
Mr. Prelevich is an external lecturer for
Economics of Energy at the University of Donja
Gorica, Podgorica since January 2012. He was
Adviser for Intersecting Energy and
Environment Issues to the Minister of Spatial
Planning and Environmental Protection for the
Government of Montenegro, from November
2009 to Feb 2011.
» Teresa RIBEIRO
UfM
Ms. Ribeiro was
appointed Deputy
Secretary General for
Energy at the Secretariat
of the Union for the
Mediterranean in 2013.
Before joining the
Secretariat, Teresa Ribeiro was Executive
Director of AICEP (Portuguese Agency for
Investment and Foreign Trade), Director
General of the Portuguese Institute for the
Media (Instituto de Comunicaçao Social) for
eight years and Director for International Affairs
of the same Institute. She was Secretary of
State for European Affairs in the Ministry of
Foreign Affairs of Portugal between 2008 and
2009. She was also auditor at the Institute for
National Defense (Ministry of National Defense)
in Lisbon. At the same time she holds a Master
in Philosophy and a Certificate of “Driving
Government Performance” by the John
Fitzgerald Kennedy School of Government of
the University of Harvard.
Mediterranean Forum on Energy Regulation Biography
» SPEAKERS
» Alessandro RUBINO
University of Bari
Mr. Rubino is Lecturer in
Economics at Bari
University. Before
completing his PhD
has worked at Ofgem as
Regulatory Economist. In
addition Mr. Rubino has
worked on the design and implementation of
the incentive scheme for the national
transmission system operator for gas and
electricity. From June 2009 to July 2012 Mr.
Rubino has worked as Research Assistant at
the Florence School of Regulation (European
University Institute) within the Robert Schuman
Centre, a research unit specialized in applied
economics. From July 2012 to January 2014
Alessandro has been head of Capacity building
and knowledge dissemination at the Enel
Foundation and is currently senior policy
advisor at RES4MED.
» Ernesto SOMMA
University of Bari
Mr. Somma is Full
Professor of Industrial
Economics at the
University of Bari Aldo
Moro where is is the
Dean of the
undergraduate School
of Marketing. He holds a D.Phil in Economics
from the University of York (UK). In addition to
his academic duties, he has served as
Coordinator of the Program for the
opportunities of regions in EU under the Italian
Presidency of the Council of Ministers General Director 2008 – 2012. Currently, he
is Senior Regional Stakeholder Advisor for TAP
(Trans Adriatic Pipeline), Senior Advisor
responsible for special projects of the Agenzia
Nazionale per l’attrazione degli investimenti e
lo sviluppo d’impresa (Invitalia SpA) and
member of the Board Director of the Institute
Banco di Napoli Fondazione.
» Simone TAGLIAPIETRA
FEEM
Mr. Tagliapietra is an
expert in international
energy issues and has
published extensively on
the international natural
gas markets, the EU
energy policy, the
Mediterranean renewable energy markets and
the Euro-Mediterranean energy relations, with
a particular focus on Turkey. Prior to joining
FEEM in March 2011, he completed a
traineeship at the Energy Division of the United
Nations Economic Commission for Europe
(UNECE) in Geneva. He is Member of the
Editorial Board of the European Energy Journal
(EEJ), Member of the International Association
for Energy Economics (IAEE) and Senior Expert
Member of the Euro-Med Economists
Association (EMEA).
» Maria VAGLIASINDI
World Bank
Ms. Vagliasindi is
currently Lead
Economist at the World
Bank, leading analytical
work and policy dialogue
with senior government
officials, the private
sector, donor representatives and civil society
on energy and infrastructure reforms in several
developing countries worldwide. She has also
led over the past two decades on policy
initiatives in partnerships with other
institutions, including the IMF, OECD, OPEC
and other multilateral development banks, in
high level contexts such as the G-20. Before
joining the World Bank she worked in the Chief
Economist Office of the European Bank of
Reconstruction and Development. Earlier she
was teaching Industrial and Public Economics
at the Universities of Warwick and Edinburgh.
Ms. Vagliasindi holds a M Phil in Economics
from the University of Oxford and a PhD in
Economics from the University of Warwick.