Development of the EU energy space

Abstract

The article analyses the development and outcomes of the EU efforts to form a liberalized internal energy market. Particular attention was paid to multilevel system of governance of the energy market and the balance between network and hierarchical forms of governance. The research concludes that the legislative and regulatory regime is still rather heterogeneous and cannot provide the desirable level of competition. The shortages of energy infrastructure prevent the merger of national energy markets of EU member states. The paper reveals factors that impede further liberalization of the market.