By signing the “The Energy Community Treaty” on October 25, 2005 in Athens, the countries of the South-East Europe and the European Union have set off the process of creating an Energy Community with a view to broadening the internal EU energy market to the region of South-East Europe.
The Energy Community Treaty is an international treaty concluded between the European Community on one hand and on the other hand.
Main tasks of the Energy Community are as follows:
- Creating a stable regulatory and market framework capable of attracting investments into electricity and gas sectors to enable stable energy supply that is essential for economic development and social stability;
- Creating a single legal framework for trade in electricity and gas in South-East Europe and EU;
- Enhancing security of supply by providing stable investment climate and consolidating connection to other regions of Europe, Africa and Asia;
- Improving the environmental situation, energy efficiency and use of renewable energy sources in the region;
- Developing a competitive energy market and exploiting economies of scale.
The Energy Community Treaty establishes also regional institutions required for functioning of the pan-European energy market – Ministerial Council, Permanent High-Level Group, Energy Community Regulatory Board, Energy Community Secretariat, Electricity Forum, Gas Forum, Social Forum and Oil Forum.
In compliance with the obligations deriving from the Energy Community Treaty, AERS actively participates in the work of Energy Community institutions (Energy Community Regulatory Board, Athens Forum, Gas Forum, Social Forum) while observing protection of consumer interests, electricity and gas industries of the Republic of Serbia.