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CONTENTS. One example each Regulatory issue Standard-setting issue Why these issues are important What is ECE’s interest/role Procedures, method of work, etc. REGULATORY ISSUE. Opening up and liberalization of natural gas and electricity markets. ENERGY POLICY PARADIGM SHIFT.

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Contents l.jpg
CONTENTS

  • One example each

    • Regulatory issue

    • Standard-setting issue

  • Why these issues are important

  • What is ECE’s interest/role

  • Procedures, method of work, etc.


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REGULATORY ISSUE

Opening up and liberalization

of

natural gas and electricity markets


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ENERGY POLICY PARADIGM SHIFT

  • Prior to mid-1990s

    • Characterized by economies of scale

    • Inherent monopolies (natural gas & electricity)

    • Government guidance/supervision

  • Post mid-1990s

    • Market liberalization in buying and selling

    • Transport and distribution infrastructure: inherent monopoly


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EU COMMON RULES

  • Market opening (timing & level of opening)

  • Unbundling (Chinese walls, legal, ownwership)

  • Third party network access

  • Tarification, transparency

  • Regulatory systems


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PROFOUND IMPACT

  • Liberalization & re-regulation

  • Market and industry structures

  • Nature of competition

  • How business is conducted

  • Behaviour of governments

  • Problems & concerns


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UNECE’S ROLE/INTEREST

  • Assess & understand transformation/ potential implications

  • Dialogue and exchange experiences

  • Transfer EU country experience to non-EU countries

  • Approach:

    • Reports, studies, etc.

    • Addressed by Cttee, WP, Ad Hoc Experts, Workshops

    • 2 UNECE Gas Centre Task Forces

      • EU Directives

      • Transportation issues


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PERFORMANCE TO DATE

  • Significant market opening

  • Incomplete liberalization (EU)

    • 17 countries notified

    • 5 under active investigation (anti-competitive behaviour)

  • Efficiency gains/lower prices?

  • Concerns

    • Consolidation

    • National champions

    • Regulatory diversity


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STANDARD SETTING

United Nations Framework Classification

For

Fossil Energy and

Mineral Reserves and Resources


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WHAT IS THE UNFC?

  • Classification system for Fossil Energy and Mineral Reserves & Resources

  • Framework to harmonize existing terminologies & definitions

  • Simple, universally applicable scheme for classifying and evaluating

  • Flexible system for application at global, national, industrial, institutional or financial level


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Classification

Principles

Total in-place

Field project status and feasibility

Economic and commercial viability

Geological knowledge

  • G1 Reasonably assured

  • G2 Estimated

  • G3 Inferred

  • G4 Potential

  • E1 Economic

  • E2 Potentially economic

  • E3 Intrinsically economic

  • F1 Justified

  • F2 Contingent

  • F3 Undefined

UN Framework Classification (UNFC)


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WHY THE UNFC?

  • Enhance international communications

  • Support business processes & improve efficiency of resource management

  • Facilitate international financial reporting

  • Enhance security of energy supplies (transparency) & associated financial resources


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HISTORY OF UNFC

  • Initiated in 1992

  • 1997 ECOSOC resolution for mineral and solid fuels (60 countries tested or using)

  • 2004 ECOSOC resolution for Fossil Energy and Mineral Resources (to apply system worldwide)

  • Develop one common global code for energy & minerals (incl. definitions, specifications, guidelines)

  • Plus institutional governing structure to keep UNFC relevant & updated


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STAKEHOLDER PARTICIPATION OR SUPPORT

  • Governments, incl. G7 Ministers of Finance and Governors of Central Banks, NGOs and business community/private sector

  • International organizations/ associations, incl. IAEA, IEA, IEF, OPEC, WEC and WPC.

  • Professional associations incl. AAPG, CRIRSCO, EFG, IASB, IOSCO, IVSC and SPE.


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AHGE BUREAU

  • Norway (1), Russian Federation (1) & US (1)

  • NGO (1) & private sector (2)

  • OPEC (1)

  • Combined Reserves International Reporting Standards Cttee (CRIRSCO) (1)

  • Society of Petroleum Engineers (SPE) (1)



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