12 August 2019 | 7 minutes.

Decarbonization, decentralization and digitalization in the Mediterranean

Francesco Valezano
Ph.D. candidate international relations university, External Collaborator at REVOLVE

Francesco Valezano, Ph.D. candidate international relations university, External Collaborator at REVOLVE

Energy cooperation between different markets requires a convergence of regulation amongst the energy sectors. The first step towards a macro-regional energy system, particularly in transmitting electricity, in this case around the Euro-Mediterranean, is achieved by bringing together energy regulators to exchange of experiences, technical knowledge and sharing of information.­­

Continental interconnections become an indispensable element for reducing congestion, maximizing the exploitation of renewable sources, and promoting the energy security of the national energy systems. The biggest challenge for the regulators is the fostering of a progressive harmonization of the national systems on the way to establishing a common regional energy market.

Technical and regulatory cooperation on energy in the Mediterranean passes through the coordinated action of the Association of Mediterranean Energy Regulators (MEDREG) . MEDREG stands for the Association of Mediterranean Energy Regulators and gathers 27 energy regulators from 22 countries, spanning the European Union (EU), the Balkans and the MENA region.

MEDREG brings together Mediterranean regulators to seek a common regulatory framework with the goal of implementing an integrated macro-regional energy market. MEDREG strives for the progressive regulatory harmonization of energy systems around the Mediterranean. Only a model of secure and shared rules can promote the infrastructural investments essential for the establishment of a future Euro-Mediterranean energy system. In this sense, regulation is a fundamental tool for the development and integration of energy markets. MEDREG acts to implement solid energy policies and improve the security of supply ensures a competitive market based on assured rules and reduces the cost of risk capital.

Regulation is a fundamental tool for the development and integration of energy markets

Today, energy sectors are experiencing three inter-related dimensions of a massive paradigm shift: decarbonization, decentralization and digitalization. An optimal combination of all three could be an effective and affordable way to face the energy transition. For this reason, regulators from all over the world have to tackle this challenge and set a proper integration strategy capable of balancing the security of the grid, the market access of operators and the protection and the consciousness of an end user. It is essential that the regulatory systems adapt to the evolution in the technological context, with the aim of offering the consumer greater transparency and better access to the market. 

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