Brussels, 12/06/2001 (Agence Europe) - The case of the acquisition of a majority stake by the French monopoly Electricite de France (EDF) in the capital of the Italian Montedison renewed the debate on the coherence of the liberalisation of the electricity market in Europe: the European Commission should examine the case under at least three angles in the coming weeks, confirmed its spokesperson, on Monday. Next week, the Commissioner for the Internal Market, Frits Bolkestein, will launch a debate within the Commission on the restrictions to cross-border investments and the right to establishment foreseen by Article 43 of the Treaty. This debate will clarify the Commission position on the voting rights in companies, announced Jonathan Todd, spokesperson for Commissioner Bolkestein.
At the same time, the Commission continues it analysis, under the angle of the rules on mergers (Treaty Articles 85-86) and the Italian legislation on the EDF stake in Montedison and, under the angle of Spanish legislation, on the stake of the German EnBW in the Spanish Hidrocantabrico (see EUROPE of 6 June, p.10).
The Transport Commissioner, Loyola de Palacio, announced, as for her, that she would soon present a analysis report on the asymmetry stemming from the different speeds of liberalisation of the electricity markets between the Member States. Personally, the Commission favours the establishment of transition periods allowing to manage this asymmetry, and intend to put forward a legislative text on the matter, which would enable to open the debate in the European Parliament and Council, she indicated during a conference.
Questioned over the draft German law that would limit the imports of French electricity, the spokesperson for Mrs de Palacio, Gilles Gantelet, recalled that the electricity Directive contains a 'reciprocity" clause that allows the States, which have liberalised their market above the ceiling set by the Directive to limit imports from less liberalised countries. Other than the practical problems this asymmetry risks penalising the good students that have rapidly liberalised, which would be a bad example for the coming liberalisation of the railways, states Gilles Gantelet.