The number of proposed projects submitted for TYNDP 2015 illustrates the willing- ness of promoters to invest in European gas infrastructures. There is sufficient cap- ital in the financial market to fund a significant proportion of these projects, the chal- lenge is to ensure that these projects access funding. The main prerequisite to unbridle this financial potential is a stable and attractive regulatory framework for in- vestors; however, not all Member States offer a regulatory environment with condi- tions favouring investments.
The streamlining of the permitting process (e.g. “one-stop-shop”) is a long-awaited improvement by promoters. Nevertheless many Member States are late in establish- ing such arrangements. Such situation would be detrimental to the development of necessary infrastructures as streamlined permitting is especially important for cross-border projects where the phasing of stages in each country is a key factor in delivering the benefits of the projects. These arrangements are intended to strike a balance between public consultation and certainty on the duration of the process. If these arrangements deliver expect- ed benefits, they should be enlarged to Non-PCI projects as well.
3.4 TSO perspective
According to the Third Energy Package new investments should be triggered by market testing. It might prove difficult to secure sufficient financial commitment for projects delivering security of supply or network flexibility. TSOs’ role within the investment process involves enabling the market to signal necessary projects through market consultation. This includes national-, regional- and European plans, and also the upcoming incremental capacity procedure, which will be integrated into the Capacity Allocation Mechanism Network Code. The final identification of the infrastructure projects requires market commitment and hence sufficient participa- tion of the market players. ENTSOG’s role in the investment process is to ensure an objective assessment of infrastructure development and to provide supporting information. In that respect, a second demand scenario and the dynamic modelling of power generation have been introduced to mitigate the risk of overestimating investment needs. ENTSOG does not perceive a risk of underestimating investment needs. The main risk is a delay in the delivery of enough projects identified in TYNDP 2015. The bi-annual repetition and continuous development of this process should ensure an efficient and appropriate infrastructure assessment based on the latest developments in the European and global energy markets.