European energy sector is moving from national to international markets. This transformation is reflected in the current market opening process and in the European level cooperation between both private and public sector operators. Despite of this clear and significant change, the markets are still regulated essentially at national level.
This article will discuss the appropriate level of regulation of electricity markets. It will be argued that European wide markets should be regulated at European level. Instead of national or regional. Looking at the third legislative package and the pre-existing regulatory framework, it seems that the future decision-making authority will be spread across several organizations at national, regional and European level.European Energy and Environmental Law Review