1 draft memorandum of understanding between the ... - AFUR

DRAFTMEMORANDUM OF UNDERSTANDINGBETWEENTHE INTERNATIONAL CONFEDERATION OF ENERGY REGULATORSANDTHE EUROPEAN BANK OF RECONSTRUCTION AND DEVELOPMENTContinuous investments in the energy sector are essential in all countries to achieveaffordable, sustainable and secure energy supplies. In a wider European context, majorenergy technology changes and ambitious policy objectives currently combine toconsiderably increase the level of investment required compared to historic norms. Atthe same time, the level of uncertainty about future trends remains high. Both factorscombined present a challenge for the provision of a sound investment climate, animportant pre-requisite for continuous investments.The International Confederation of Energy Regulators (“ICER”), a voluntary frameworkfor cooperation between energy regulators from around the globe represented by theirRegional Associations, and the European Bank for Reconstruction and Development(“EBRD”), hereinafter jointly referred to as “the Parties”, recognise(i)(ii)(iii)that they have a common interest in promoting sound investment climates,that they consider that a sound investment climate heavily relies on a low riskand predictable legal, regulatory and policy framework; andthat closer collaboration can help both organisations raise awareness andunderstanding of the above mentioned challenges.The parties have come to the following understanding:WHEREAS:(A)(B)ICER and EBRD aim to cooperate in promoting policy-maker awarenessand understanding of energy regulation and its role for creating soundinvestment climates, by establishing a continuous dialogue between theparties.furthermore, the Parties wish to identify areas of co-operation that canenhance mutual understanding of issues of common concern and pursuejoint initiatives.NOW, THEREFORE,: the Parties hereto wish to record their understanding asfollows:1

I OBJECTIVES1. The parties intend to assist parliaments, governments and national regulators inthe creation of stable legal and regulatory frameworks and investment climatesaimed at facilitating efficient and necessary investments able to improve security,affordability, competitiveness, environment compatibility and sustainability of gasand electricity systems and services.2. Furthermore the parties wish to explore, share and promote best practice andinnovative ways in energy regulation in order to reduce risks and fosterinvestments in energy infrastructure and services.3. This MoU also extends its objectives to the level of the Regulatory RegionalAssociations (CEER,xxxxx ; ERRA,xxxxx ; Medreg,xxxxxx ), Acer (xxxx), ECRB(xxx), the NRAs concerned and the FSR (xxxx) with IERN (XXXXX):4. The EBRD’s remit extends to central, eastern and south-eastern Europe and theCaucasus, Russia, Turkey, central Asia, Mongolia and, subject to furtherapprovals, to the southern and eastern Mediterranean; as a result the NationalRegulatory Authorities for energy (NRAs) from these regions and their regionalAssociations aim to be closely involved in the collaboration and may develop theirown relations with EBRD. However, the output from this collaboration intends tohave relevance for all ICER members.II MECHANISMS5. ICER and EBRD will actively facilitate the achievements of the above mentionedobjective on the basis of focussed initiatives or projects, that may take the formof:(A)(B)(C)(D)(E)exchanging information on lessons learnt, best practice and completedresearch and studies;joint discussion or position papers, workshops, fact sheets and reports;know-how transfer initiatives on regulatory issues and practices;contributions and/or participation in working groups and/or committeesand /or events;advice and support.6. Each project/initiative will seek to produce concrete outputs which will beconfidential to the two organisations and will not be promulgated more widelyunless specifically approved by both bodies.III IMPLEMENTATION7. The parties will elaborate a joint annual work plan which will identify priorityissues, initiatives and projects aimed at the implementation of the present MoU.The annual work plan will also report on the results achieved with reference to2

the previous annual work plan. A first draft work plan will be completed after theWorld Forum on Energy Regulation in May 2012.8. ICER and EBRD will each nominate a contact person or unit, within theirorganisations, to facilitate the dialogue between the two parties and theimplementation of the present MoU.IV FINAL PROVISIONSThe present MoU reflects the views and intentions of the Parties, expressed in good faithbut without the creation of any legal obligation or incurrence of any liability on the partof any of them. Nor shall any third party obtain any legal benefit from this MoU.It is understood and agreed that nothing in this MoU shall constitute, or be construed as,an offer, promise or undertaking by EBRD to finance all or part of any activity or projectidentified in or pursuant to this MoU.Any dispute arising out of, or in connection with, the interpretation or application of anyprovision of this MoU shall be settled amicably through consultations or by such othermeans, as the Parties shall mutually agree.This MoU shall become effective on the date it is signed by both Parties. It may beamended by mutual written consent of the Parties. Either Party may terminate this MoUat any time by giving the other Party written notice to this effect no later than onemonth prior to the termination date.Signed in London on X March 2012 in two originals in the English language.For the InternationalConfederation of EnergyRegulatorsFor European Bank forReconstruction and Development:Name:Title:Name:Title:3