Focus on Energy, 2010 - Karanovic & Nikolic
Focus on Energy, 2010 - Karanovic & Nikolic
Focus on Energy, 2010 - Karanovic & Nikolic
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FINANCING THE ENERGY COMMUNITY8The functi<strong>on</strong>ing of the <strong>Energy</strong> Community is financed throughc<strong>on</strong>tributi<strong>on</strong>s of the parties as set out by the Treaty (of whichmore than 98% of the m<strong>on</strong>etary c<strong>on</strong>tributi<strong>on</strong>s originate fromthe EU as a whole). The level of c<strong>on</strong>tributi<strong>on</strong>s may be reviewedevery five years at the request of any party to the Treaty. TheDirector of the Secretariat implements the budget in accordancewith the procedural acts that regulate the budget and reports tothe Ministerial Council <strong>on</strong> the executi<strong>on</strong> of the budget <strong>on</strong> an annualbasis. The Secretariat is also resp<strong>on</strong>sible for making sure thatall c<strong>on</strong>tributi<strong>on</strong>s are correctly spent and accounted for.The total budget for 2009was EUR 2,996,942. Accordingto preliminary financialreports some 90% to 95% ofthe budget was utilized forthe financing of the operati<strong>on</strong>sof the Treaty.FOCUS ON ENERGYTo date, funding of the <strong>Energy</strong> Community instituti<strong>on</strong>s and itsactivities have been covered predominantly by the EU throughthe Community Assistance for Rec<strong>on</strong>structi<strong>on</strong>, Development and Stabilisati<strong>on</strong> funds (the “CARDS”)and later through the Instrument for Pre-Accessi<strong>on</strong> Assistance programme (the “IPA”) which replacedCARDS in 2007. The Austrian government gave a significant c<strong>on</strong>tributi<strong>on</strong> by financing the interim <strong>Energy</strong>Community Secretariat which was established as a n<strong>on</strong>-profit organisati<strong>on</strong> under the Austrian laws untilthe sec<strong>on</strong>d half of 2007 when it finally became an internati<strong>on</strong>al organizati<strong>on</strong> and a c<strong>on</strong>stituent body ofthe <strong>Energy</strong> Community.ROAD MAPSAs explained above in more detail, the Treaty provided the adhering parties with <strong>on</strong>erous targets. In orderto meet these targets to fulfil all legally binding obligati<strong>on</strong>s, the <strong>Energy</strong> Community has developeda series of road maps (the “Road Maps”).The Road Maps are structured to break down the compliance requirements into six separate chapterswhich are then further divided <strong>on</strong> more specified policy requirements:ketdesign market rules, licensing).The first chapter is the adaptati<strong>on</strong> and implementati<strong>on</strong> of the respective acquis communnautaire and itis the starting point for the compliance process. This chapter refers to the nati<strong>on</strong>al legislati<strong>on</strong> indicating