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Government on schedule with energy law

The regulations necessary for the new electricity law to take effect are to be created by mid December, accordingly, the legislative framework for market liberalization is going to be ready, said Balázs Felsmann, secretary of state to the Economy Ministry at the EnKon conference.

Later, the government will discuss the action plan on energy efficiency. The most important issue regarding the security of energy supplies is the Nabucco pipeline project, its coordination has already been started by an assigned EU commissioner. To be completed by 2020, this pipeline will only supply less than half of the gas necessary for the EU, thus Russia is reportedly not considering the plans and constructions of the Nabucco pipeline as an antagonistic initiative on the EU’s behalf. The project is to be realized from a €4.5 to 5 billion budget, with Central Asian countries as well as some investors growing interested in taking part. (NG 4)