This book focuses on the two intra-regional initiatives created for the development and integration of energy markets: the Energy Community and MedReg.
The Energy Community and MedReg, apart from their common strategic role in providing a much-needed stable regulatory environment for energy markets in their respective reference countries, represent examples of a diverse development of regional energy initiatives. The former is initiated by external factors and is an example of a top-down approach, whereas the latter is a voluntary bottom-up initiative of the countries involved. The way the institutional framework is built is not without consequences on the functioning and organization of the two regional initiatives.
The book assesses these different approaches and their consequences in the framework of the development of the Energy Community and MedReg, with particular reference to their impact on regional integration, energy policy and institutional change. The analysis is enriched with several case studies on the role of independent regulatory agencies, the promotion of renewable energy sources, infrastructure and interconnection development across the Mediterranean basin and the implications of exporting the EU institutional model. This book is aimed at policy makers, institutions, energy companies and academics to provide a better understanding of the economic and institutional eco-system that characterize the Mediterranean area.