DOCSLIB.ORG

Great Britain and Northern Ireland Regulatory Authorities Reports 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Great Britain and Northern Ireland Regulatory Authorities Reports 2020 Great Britain and Northern Ireland Regulatory Authorities Reports 2020 Publication 31 July 2020 Contact: Caitlin Bromfield, Analyst Catherine Contiguglia, Senior Policy date: Manager Team: Wholesale Markets Tel: 020 7901 3169 Email: [email protected] [email protected] Regulatory Authorities Report pursuant to section 5ZA of the Utilities Act 2000 and section 6A of the Energy (Northern Ireland) Order 2003: The Great Britain (GB) report covers: Developments in the GB energy markets in the calendar year 2019 and the first six months of 2020. In some cases, data is only available for a subset of this period (ie the 2019 calendar year only). Where this is the case, it is clearly stated. The regulation and performance of the GB electricity and gas markets along the themes of network regulation, promoting competition and security of supply. Our compliance with the Electricity and Gas Directives on consumer protection and dispute settlement. Since GB energy markets have been fully liberalised and the regulatory structures in place for a number of years, this report is intended as an updated version of the submissions made since 2007. In accordance with the structure agreed by the Council of European Energy Regulators (CEER), this report includes references to compliance with the Clean Energy Package. Report – Great Britain and Northern Ireland Regulatory Authorities Reports 2020 Finally, for further information on Ofgem’s wider activities, please consult our Annual Report. The 2018-19 Ofgem Annual Report is available at the link below.1 Legal basis All National Regulatory Authorities (NRAs) are obliged to report annually to the European Commission, in accordance with Directives 2009/72/EC (Electricity Directive) and 2009/73/EC (Gas Directive). The structure of the report is based on that agreed by CEER. Ofgem is the GB Office of Gas and Electricity Markets. It is governed by the Gas and Electricity Markets Authority (the Authority). The terms ‘the Authority’, ‘Ofgem’, ‘us’ and ‘we’ are used interchangeably in this document. The Northern Ireland National Report, from the Northern Ireland Utility Regulator, is in the second section of this United Kingdom (UK) Report. As the NRA for GB, Ofgem’s above annual reporting requirement is specified in section 5ZA of the Utilities Act 2000. The Utility Regulator’s equivalent requirement is specified in section 6A of the Energy (Northern Ireland) Order 2003. Definitions References to the ‘Electricity Regulation’, unless otherwise specified, refer to the Regulation on the internal market for electricity (EU) 2019/943 which replaced the Regulation (EC) No 714/2009 and entered into application on 1 January 2020. The term ‘Electricity Directive’ is used throughout the report to refer to the Electricity Directive 2009/72/EC. The term ‘Gas Directive’ is used throughout the document to refer to the Gas Directive 2009/73/EC. © Crown copyright 2020 The text of this document may be reproduced (excluding logos) under and in accordance with the terms of the Open Government Licence. Without prejudice to the generality of the terms of the Open Government Licence the material that is reproduced must be acknowledged as Crown copyright and the document title of this document must be specified in that acknowledgement. Any enquiries related to the text of this publication should be sent to Ofgem at: 10 South Colonnade, Canary Wharf, London, E14 4PU. Alternatively, please call Ofgem on 0207 901 7000. This publication is available at www.ofgem.gov.uk. Any enquiries regarding the use and re -use of this information resource should be sent to: [email protected] 1 https://www.ofgem.gov.uk/system/files/docs/2019/07/anuual_report_and_accounts_2018-19_web.pdf 2 Report – Great Britain and Northern Ireland Regulatory Authorities Reports 2020 Contents 1 Chair’s foreword .................................................................................. 4 2 Main developments in gas and electricity markets............................... 7 2.1 Evaluation of the market development and regulation ........................................ 7 2.1.1 Investment ........................................................................................... 7 2.1.2 Wholesale markets .............................................................................. 10 2.1.3 Retail markets ..................................................................................... 13 2.1.4 Compliance and enforcement ................................................................ 16 2.2 Report on the implementation of the Clean Energy Package .............................. 18 3 The electricity market ........................................................................ 19 3.1 Network Regulation ...................................................................................... 19 3.1.1 Unbundling ......................................................................................... 19 3.1.2 Technical functioning ............................................................................ 20 3.1.3 Network tariffs for connection and access ............................................... 28 3.1.4 Cross-border issues ............................................................................. 32 3.1.5 Security and reliability regulation ........................................................... 41 3.1.6 Monitoring of supply and demand .......................................................... 45 3.1.7 Implementation of Network Codes and Guidelines .................................... 46 3.1.8 Compliance ......................................................................................... 51 3.2 Competition and market functioning ............................................................... 64 3.2.1 Wholesale markets .............................................................................. 64 3.2.2 Retail markets ..................................................................................... 75 3.2.3 Consumer protection and dispute settlement for electricity ..................... 100 4 The gas market ................................................................................ 115 4.1 Network regulation ..................................................................................... 115 4.1.1 Unbundling ....................................................................................... 115 4.1.2 Technical functioning .......................................................................... 118 4.1.3 Network and LNG tariffs for connection and access ................................ 121 4.1.4 Cross-border issues ........................................................................... 126 4.1.5 Compliance ....................................................................................... 129 4.2 Competition and market functioning ............................................................. 132 4.2.1 Wholesale markets ............................................................................ 132 4.2.2 Retail markets ................................................................................... 138 4.2.3 Consumer protection and dispute settlement ......................................... 148 4.2.4 Security of supply .............................................................................. 148 3 Report – Great Britain and Northern Ireland Regulatory Authorities Reports 2020 1 Chair’s foreword The past year in Ofgem has been an exciting one dedicated to and shaped by change. Internally, we welcomed Jonathan Brearley as our new Chief Executive, taking over the post from Dermot Nolan, who led Ofgem since 2014. The year began with a major change when the UK left the EU on 31 January and entered into the transition period where we continue to be subject to EU rules. Negotiations to determine the future relationship between both parties are currently underway. While we cannot predict the final outcome of these negotiations, we are committed to working with our fellow regulators in Europe and to act in the spirit of cooperation. COVID-19 has undoubtedly presented a serious and unexpected challenge on a national and international scale. Our response has been to take a flexible approach to make sure our overriding objectives of protecting consumers, ensuring secure energy supplies, and maintaining the safety of consumers and the workforce are upheld. As we transition to a new phase of response, our policies remain focused on allowing companies to meet the needs of consumers – especially those in vulnerable situations - as well as on how to support a green post-COVID recovery. In the midst of these changes, our focus over the past months has been setting out our action plans to support the urgent call for achieving net zero carbon emissions. In June 2019, the UK Parliament committed to reducing greenhouse gas emissions to net zero by 2050. In February, we released our ‘Decarbonisation Action Plan’ to set out actions that we will take in the next 18 months to begin our next steps in the journey to net zero. We were also able to announce a number of landmark achievements over the year. Our investigation of the 9 August 2019 power cut that impacted supply for over 1 million consumers resulted in voluntary payments from Hornsea One Ltd, Little Barford and UK Power Networks into the Voluntary Redress Fund, and helped inform our review into management of Electricity System Operators. Then in April, we imposed a record fine of £37.2m on InterGen for a breach under REMIT,
Load more

Recommended publications
  • Great Britain and Northern Ireland Regulatory Authorities Reports 2018
    Great Britain and Northern Ireland Regulatory Authorities Reports 2018 Regulatory Authorities Report pursuant to section 5ZA of the Utilities Act 2000 and section 6A of the Energy (Northern Ireland) Order 2003 Ofgem 10 South Colonnade, Canary Wharf London E14 4PU www.ofgem.gov.uk Great Britain and Northern Ireland Regulatory Authorities Reports 2018 Ofgem 2018 National Report to the European Commission Overview The Great Britain (GB) report covers: Developments in the GB energy markets in the calendar year 2017 and the first six months of 2018. In some cases, data is only available for a subset of this period (i.e. the 2017 calendar year only). Where this is the case, it is clearly stated. The regulation and performance of the GB electricity and gas markets in reference to network regulation, promoting competition, and security of supply. Our compliance with the Electricity and Gas Directives on consumer protection and dispute settlement. Since GB energy markets have been fully liberalised and the regulatory structures in place for a number of years, this report is intended as an updated version of the submissions made since 2007. Finally, for further information on Ofgem’s wider activities, please consult our Annual Report. The 2017-18 Ofgem Annual Report is available at the link below.1 Legal Basis All National Regulatory Authorities (NRAs) are obliged to report annually to the European Commission, in accordance with Directives 2009/72/EC (Electricity Directive) and 2009/73/EC (Gas Directive). The structure of the report is agreed at the Council of European Energy Regulators (CEER). Ofgem is the GB Office of Gas and Electricity Markets.
    [Show full text]
  • Embedded Generation Connection Incentives for Distribution Network Operators
    EMBEDDED GENERATION CONNECTION INCENTIVES FOR DISTRIBUTION NETWORK OPERATORS Report Number: K/EL/00286/REP URN 02/1148 Contractor Ilex Energy Consulting Prepared by Peter Williams Stephen Andrews The work described in this report was carried out under contract as part of the DTI Sustainable Energy Programmes. The views and judgements expressed in this report are those of the contractor and do not necessarily reflect those of the DTI. First Published 2002 © Crown copyright Disclaimer While ILEX considers that the information and opinions given in this work are sound, all parties must rely upon their own skill and judgement when making use of it. ILEX does not make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained in this report and assumes no responsibility for the accuracy or completeness of such information. ILEX will not assume any liability to anyone for any loss or damage arising out of the provision of this report. TABLE OF CONTENTS INTRODUCTION I 1. REVIEW OF THE EXISTING OBLIGATIONS ON DISTRIBUTION NETWORK OPERATORS 1 2. REVIEW OF DNO PRACTICE 9 3. INTRODUCTION OF THE UTILITIES ACT 2000 21 4. DNO INCENTIVES - PROBLEMS AND PROSPECTS 36 ANNEX A: DNO QUESTIONNAIRE 60 [This page is intentionally blank] INTRODUCTION This is a final report on the work undertaken by ILEX on the ‘Connection Incentives for Distribution Network Operators’ project - commissioned by the DTI as part of the New and Renewable Energy Programme. This work covers the tasks of the project as described in the original proposal and subsequently formalised under contract between ILEX and ETSU1.
    [Show full text]
  • Scotland Act 2016 Is up to Date with All Changes Known to Be in Force on Or Before 22 July 2021
    Status: Point in time view as at 01/12/2017. This version of this Act contains provisions that are not valid for this point in time. Changes to legislation: Scotland Act 2016 is up to date with all changes known to be in force on or before 22 July 2021. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. (See end of Document for details) Scotland Act 2016 2016 CHAPTER 11 An Act to amend the Scotland Act 1998 and make provision about the functions of the Scottish Ministers; and for connected purposes. [23rd March 2016] BE IT ENACTED by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:— PART 1 CONSTITUTIONAL ARRANGEMENTS The Scottish Parliament and the Scottish Government 1 Permanence of the Scottish Parliament and Scottish Government In the Scotland Act 1998 after Part 2 (the Scottish Administration) insert— “PART 2A PERMANENCE OF THE SCOTTISH PARLIAMENT AND SCOTTISH GOVERNMENT 63A Permanence of the Scottish Parliament and Scottish Government (1) The Scottish Parliament and the Scottish Government are a permanent part of the United Kingdom's constitutional arrangements. (2) The purpose of this section is, with due regard to the other provisions of this Act, to signify the commitment of the Parliament and Government of the United Kingdom to the Scottish Parliament and the Scottish Government.
    [Show full text]
  • Utilities Act 2000 Is up to Date with All Changes Known to Be in Force on Or Before 25 September 2021
    Status: This version of this Act contains provisions that are prospective. Changes to legislation: Utilities Act 2000 is up to date with all changes known to be in force on or before 25 September 2021. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. (See end of Document for details) View outstanding changes Utilities Act 2000 2000 CHAPTER 27 PART I NEW REGULATORY ARRANGEMENTS 1 Gas and Electricity Markets Authority. (1) There shall be a body corporate to be known as the Gas and Electricity Markets Authority (in this Act referred to as “the Authority”) for the purpose of carrying out— (a) functions transferred to the Authority from the Director General of Gas Supply and the Director General of Electricity Supply; and (b) the other functions of the Authority under this Act. (2) The functions of the Authority are performed on behalf of the Crown. (3) The offices of Director General of Gas Supply and Director General of Electricity Supply are abolished. (4) Schedule 1 has effect with respect to the Authority. Commencement Information I1 S. 1 wholly in force at 1.10.2001; s. 1 not in force at Royal Assent see s. 110(2); s. 1(1)(2)(4) in force at 1.11.2000 by S.I. 2000/2917, art. 2; s. 1(3) in force at 1.10.2001 by S.I. 2001/3266, art. 2, Sch. (subject to transitional provisions in arts. 3-20) F12 Gas and Electricity Consumer Council.
    [Show full text]
  • Policy and Players Shaping Investment
    www.davy.ie Bloomberg: DAVY<GO> Research: +353 1 6148997 Institutional Equity Sales: +353 1 6792816 Davy Research August 16, 2012 Davy Research Research Report: Sector update Caren Crowley Ireland's Electricity Future [email protected] / +353 1 6148997 Barry Dixon [email protected] / +353 1 6148997 Policy and players shaping David McNamara [email protected] / +353 1 6148997 investment 2020 EU climate change commitments to drive growth Table of contents • Despite overcapacity in conventional power generation, the Republic of Executive summary 2 Ireland and Northern Ireland are committed to generating 40% of electricity requirements from renewable resources by 2020 to meet The Single Electricity Market (SEM) – an binding EU climate change targets. all-island wholesale electricity market 4 Some €5bn of capital investment will be required to construct an • additional 3–3.5GW of onshore wind by 2020. SEM generation capacity and fuel mix 8 • Government schemes to support this investment have been implemented in both jurisdictions. Growth in generation capacity 10 Larger industry players to deliver renewable investment Renewable energy incentives 13 • Certain technical challenges and the constrained financing environment Challenges in delivering SEM 2020 renewable mean that scarce capital is more likely to be channelled into projects via energy targets 16 the utilities and larger, more experienced project developers. • The four integrated energy utilities that currently dominate the all- A changing SEM 18 island electricity market – ESB, Bord Gáis Energy, SSE Ireland and Viridian – are best placed to support continued delivery of onshore Retail electricity markets supported by the wind capacity. SEM 21 • Larger project developers such as Bord na Móna, Coillte, Mainstream and Element Power will also feature.
    [Show full text]
  • Gas to the West Section 2
    Innovation and Technology Transfer Table of Contents INNOVATION AND TECHNOLOGY TRANSFER .................................................................................................................... 2 11.1 ENVIRONMENTAL SUSTAINABILITY .................................................................................................................................... 2 11.2 EFFICIENCY IN THE USE OF GAS AND THE USE OF NEW SOURCES OF GAS .................................................................................... 7 11.3 COST EFFICIENCY ........................................................................................................................................................ 11 11.4 DEVELOPMENT OF A GAS NETWORK UNDER THE LICENCE TO MORE REMOTE GEOGRAPHICAL AREAS ............................................. 14 11.5 HISTORY OF INNOVATION ............................................................................................................................................. 15 11.6 ABILITY TO SECURE FUNDING FROM OTHER GOVERNMENTAL OR REGULATORY AUTHORITIES ....................................................... 20 11.7 PROPOSALS TO TRANSFER ANY INNOVATION INTO NORTHERN IRELAND ................................................................................. 22 11.8 EXISTING SKILLS AND EXPERIENCE ................................................................................................................................... 22 Innovation and Technology Transfer Proven track record of bringing innovation and technology
    [Show full text]
  • Supplier Performance and the Smicop Domestic Monitoring and Compliance Survey Report: Results for Smart Meter Installations Occu
    Supplier Performance and the SMICoP Domestic Monitoring and Compliance Survey Report: Results for Smart Meter Installations occurring from October to December 2019 Published 30 June 2020 Page 1 of 26 30 Jun 2020 Summary The Smart Meter Installation Code of Practice (SMICoP) is a set of rules that energy suppliers must follow when installing smart meters in homes and smaller businesses. To make sure these standards have been met by the energy suppliers, a sample of customers are asked about their experiences when their smart meter was installed. These surveys are carried out by independent survey organisations on behalf of energy suppliers. More information regarding the methodology can be found within the Annex A of this report. The Monitoring and Compliance Customer Survey (MCCS) report was established to show if energy suppliers have met their obligations and responsibilities set out in the SMICoP rules. This report provides a summary of the answer’s customers gave about what happened when a smart meter was installed in their home. Some of the questions within the report show how your energy supplier is performing when installing smart meters in homes compared to other suppliers. Some of the questions within the report do not demonstrate the performance of an energy supplier if looked at on their own. For the questions that don’t indicate a better or worse performance, that are intended to help qualify1 a subsequent question, the information is presented listed by supplier in alphabetical order in black shaded tables and figures. Where suppliers’ performance is ranked highest to lowest, these are shown in blue shaded tables and figures.
    [Show full text]
  • Jeremycorbyn Nicolasturgeon Joswinson Nigelfarage
    N o. 7 9 T H E M A G A Z I N E BUSINESS WITH PERSONALITY N OV 1 9 TRAVEL The hammams that define LIVING Marrakech’s world-famous spa scene Is your home making you ill? Meet FOOD & BOOZE the hypoallergenic housebuilders Rapper and YouTube star MY DAD WROTE A PORNO’S ALICE LEVINE Michael Dapaah Top chef James Lowe invites podcaster and DJ Alice for lunch at his new restaurant Flor on why he’d order a gold steak STARS & RACING STRIPES THE MAGAZINE OUR for his last meal LATEST ISSUE HITS WHY FORMULA ONE NEEDS THE CITY’S STREETS AMERICAN SUCCESS P26 THIS THURSDAY WEDNESDAY 30 OCTOBER 2019 ISSUE 3,489 CITYAM.COM FREE voteactually MERRY CHRISTMAS FROM WESTMINSTER — ELECTION ON 12 DECEMBER JeremyCorbyn BorisJohnson NigelFarage NicolaSturgeon JoSwinson CarolineLucas CATHERINE NEILAN that is “ready to be approved by a new about the prospect of an imminent solid lead. second referendum on the terms. parliament”. showdown, with Labour MPs thought The election may act as a proxy for Last night Corbyn said: “A Labour @CatNeilan “There is only one way to get Brexit to be particularly nervous. Some 11 of a second referendum, with Johnson government will be on your side; PARLIAMENT finally gave the go- done in the face of relentless parlia- the 20 that voted against the election hoping to secure a majority that will while Boris Johnson’s Conservatives, ahead for a General Election last mentary obstructionism… and that is were Labour MPs while more than allow him to ratify his deal early in who think they’re born to rule, will night, set for 12 December.
    [Show full text]
  • 1 Definitions and Interpretation
    General Terms and Conditions for the supply Alfred Street, Belfast, BT2 8EN (contactable Ireland) Order 2003, relevant European of natural gas by Firmus Energy (Supply) by calling 02890 251 600, emailing info@ directives and/or regulations, the Network Code Limited (trading as “firmus energy”) to any consumercouncil.org.uk, visiting www. and the Licence (each as may be amended or customer (both domestic and non-domestic) consumercouncil.org.uk, or visiting its re-enacted from time to time); registered office); who uses up to 732,000 kilowatt hours of “Energy Act” means the Energy Act (Northern gas per year (“General Conditions”). “Conversion Works” means such works as Ireland) 2011; “Codes of Practice” means the codes required may be required to convert the Appliances at The following are the standard terms and in accordance with our Licence governing (i) the Supply Address to operate on Gas; “Equipment” means the Meter and associated conditions for the supply of Gas by firmus the Efficient Use of Natural Gas, (ii) Provision equipment and installations installed or to be energy for any Customer using up to 732,000 of Services for persons who are of Pensionable “Customer”, “you”, “your” means: (i) any installed at the Supply Address to allow for the kWh of Gas per year. These General Conditions Age, Disabled or Chronically Sick, (iii) Marketing, person or company who enters into the supply of Gas to the property at the Supply apply to any Customer who is supplied up to (iv) Payment of Bills (v) Services for Prepayment Agreement with the Company for the supply Address, including but not limited to associated 732,000 kWh of Gas under a Deemed Contract.
    [Show full text]
  • Title of Meeting: Cabinet
    Title of meeting: Cabinet Date of meeting: 10th August 2018 Subject: Victory Energy Supply Limited - Expert Review of Business Case Report by: Director of Finance & Information Technology (Section 151 Officer) Wards affected: All Key decision: Yes Full Council decision: No 1. Executive Summary 1.1 Victory Energy was established primarily to generate substantial income for the Council to support the sustainability of Council services into the future. It had the added objectives of reducing fuel poverty for residents, reducing carbon impact and providing competitively priced energy to business. 1.2 The products to be offered by Victory Energy include energy supply to domestic and business users, home energy assessments aimed at reducing consumption, Smart thermostats and connected devices, heating systems installations, servicing and repair and solar PV panels including home battery storage and electric vehicle charging points. A significant development through the "build out" of Victory Energy has been to secure an energy trading partner who can provide 100% renewable energy at market leading costs. 1.3 There is a strong financial case for continuing the Council's investment into Victory Energy Supply Limited (VESL) but, as with any commercial opportunity, it is not without risk. If the Council is to continue its investment, it should do so in a measured way ensuring strong governance and oversight and on the basis of the annual approval of the Company's 3 year rolling Business Plan. This is consistent with the advice received from the first Independent Expert Review (undertaken by Baringa) which stated that: "We would also expect any investor to put in place a stage-gate governance process based on achieving certain operational, customer number and margin targets to determine the release of additional capital…" 1.4 To date, the Council has spent £1.5m of the £8.1m investment required1 before the Company is expected to turn to profit in Year 3.
    [Show full text]
  • All Council Areas in Northern Ireland
    All council areas in Northern Ireland A few statistics in relation to firmus energy’s activity within all council areas: REDUCTION OF INVESTED 220,921 £140.7m CONNECTED TONNES OF SINCE 2005, 49,596 FROM THE £5.6m CUSTOMERS TO DATE 2 ATMOSPHERE PLANNED FOR 2020 CO EACH YEAR (INCLUDING OWNER-OCCUPIER PROPERTIES, NIHE, DOMESTIC (BASED ON 2019 FIGURES £ £ £ £ £ £ NEW BUILD AND INDUSTRIAL WHEN COMPARED TO OIL) AND COMMERICAL) IF ALL THESE REMAINING PROPERTIES CONNECTED TO GAS GAS THE ADDITIONAL C02 SAVINGS WOULD EQUATE TO IS AVAILABLE FOR 307,901 TONNES 104,884 GIVING A TOTAL REDUCTION OF FUTURE CUSTOMERS TONNES TO CONNECT 528,825 EVERY YEAR August 2020 About firmus energy Since 2005 firmus energy has been responsible The company employs over 100 direct staff, as well as for installing and maintaining over 1,600km of pipeline 300 indirectly in the construction, installation and service across 35 cities, towns and villages in Northern Ireland. support industries. firmus energy prides itself on achieving This natural gas network extends through the central strip and maintaining Investors in People - gold status and of Northern Ireland from Newry, through Antrim (our HQ) takes part each year in Business in the Community’s and on to Derry / Londonderry. firmus energy also has Environmental Benchmarking Survey which assesses the a supply business which purchases and sells natural environmental performance of organisations. In 2019, in gas to over 100,000 domestic and Industrial recognition of our ongoing work in this area, firmus customers throughout Northern Ireland. energy was awarded gold status. The Northern Ireland Gas Industry - £1bn network Environmental investment to date Benefits Northern Ireland benefits from having one of the most Energy users switching from home heating oil to natural modern and efficient natural gas networks in the world.
    [Show full text]
  • Grupy Kapitałowe W Krajach Europejskiego Obszaru Gospodarczego Ze Szczególnym Uwzględnieniem Sektora Energetycznego
    Grzegorz Królikowski Grupy kapitałowe w krajach Europejskiego Obszaru Gospodarczego ze szczególnym uwzględnieniem sektora energetycznego K RAKÓW 2013 SPIS TREŚCI Rozdział 1 ................................................................................................................................... 5 Miejsce grup kapitałowych wśród dużych jednostek gospodarczych ........................................ 5 1.1. Typologia dużych jednostek gospodarczych .................................................................... 5 1.2 Rola korporacji w gospodarce światowej ...................................................................... 15 1.3. Korporacje transnarodowe z udziałami państwowymi ................................................. 20 1.4. Uregulowania prawne obecne w różnych krajach europejskich .................................... 21 Rozdział 2 ................................................................................................................................. 33 Europejskie grupy kapitałowe w świetle analizy najważniejszych indeksów giełd europejskich ................................................................................................................................................... 33 2.1. Giełdy europejskie i ich zróżnicowanie ....................................................................... 33 2.2. Giełdy europejskie na tle świata .................................................................................... 39 2.3. Metodyka badania .........................................................................................................
    [Show full text]