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By McDermott Will & Emery on Feb 12, 2013
Posted In Dodd-Frank Act, EU Developments
by Simone Goligorsky On February 7, 2013, it was announced that the Economic and Monetary Affairs (ECON) Committee of the European Parliament (EP) was withdrawing its objection to the technical standards (TS) for the regulation on over-the-counter derivatives, central counterparties and trade repositories, commonly known as the European Markets Infrastructure Regulation (EMIR). The TS supplement...
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New Developments in The UK Shale Gas Sector
By McDermott Will & Emery on Jan 15, 2013
Posted In EU Developments, Hydraulic Fracturing
by David Birchall and Simone Goligorsky The shale gas sector in the United Kingdom is still in its infancy, but the UK Government has announced recently new measures and incentives to encourage its growth. On 13 December 2012, the Government lifted a temporary suspension of drilling at the only drilling site in the United...
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Conto Energia IV Deadline Extended for Photovoltaic Plants on Public Administration Property
By McDermott Will & Emery on Jan 8, 2013
Posted In EU Developments
by Carsten Steinhauer On 20 December 2012, the Italian Chamber of Deputies approved Legislative Decree no. 228/2012, known as the Stability Decree 2013. Section 1, paragraph 425 of the Stability Decree 2013 extends the deadline by which photovoltaic (PV) plants built on property belonging to the Public Administration must be connected to the grid in...
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European Commission Adopts EMIR Technical Standards
By McDermott Will & Emery on Dec 20, 2012
Posted In EU Developments
by Simone Goligorsky On December 19, 2012, the European Commission (EC) adopted the technical standards (TS) for the regulation on over-the-counter (OTC) derivatives, central counterparties (CCPs) and trade repositories, commonly known as the European Markets Infrastructure Regulation (EMIR). The level 1 text of EMIR came into force on August 16, 2012, and will now be...
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Regulations on Emissions Auctions in Phase Three to Come into Force
By McDermott Will & Emery on Nov 13, 2012
Posted In EU Developments
by Simone Goligorsky On October 23, 2012, the Community Emissions Trading Scheme (Allocation of Allowances for Payment) Regulations 2012 (SI 2012/2661) (ETS Regulations) were made. The ETS Regulations deal with the administration of auctions under Phase Three of the EU Emissions Trading Scheme (EU ETS) and will come into force in the UK on November...
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The Office of Gas and Electricity Markets of Great Britain Consults Further on its Electricity and Gas Retail Market Review
By McDermott Will & Emery on Oct 31, 2012
Posted In EU Developments, Natural Gas, Power Markets
by Caroline Lindsey On October 26, 2012, the Office of the Gas and Electricity Markets (Ofgem) published updated proposals for changes to the regulation of the non-domestic electricity and gas retail markets in Great Britain. The Retail Market Review Proposals (RMR Proposals) are part of Ofgem’s RMR program, which also includes proposals for the domestic...
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Italian Senate Approves Draft Revision of Restrictions to PV Plants on Agricultural Ground
By McDermott Will & Emery on Mar 16, 2012
Posted In EU Developments, Renewables
by Carsten Steinhauer On March 1, 2012, the Italian Senate approved the draft text which will transpose into law Decree no. 1/2012, the Liberalisation Decree. The draft text still needs to be approved by the Italian Chamber of Deputies. The approval must be granted by March 24, 2012 at the latest. Once the text is approved, it will...
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Non-EU Countries Oppose Inclusion of Emissions from Airlines in EU ETS
By McDermott Will & Emery on Mar 8, 2012
Posted In Environmental, EU Developments
by Prajakt Samant and Simone Goligorsky Following the preliminary court ruling that all aviation emissions are to be regulated under the European Union (EU) Emissions Trading Scheme (ETS), several non-EU countries have convened to oppose the inclusion of their airlines in the EU ETS. In a meeting held in Moscow at the end of February, a reported 26...
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Trialogue Discussions Lead to Agreement on Final Text of EMIR
By McDermott Will & Emery on Feb 10, 2012
Posted In EU Developments
by Prajakt Samant On February 9, 2012, following a series of trialogue discussions between the European Commission (EC), the European Parliament (EP) and the Council of Ministers (CM), the final text for the European Market Infrastructure Regulation (EMIR) was agreed. The agreed text will now be voted on by the EP and the CM, although...
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