Regulatory Stability Under Russian and EU Energy Law

Maastricht Journal of European & Comparative Law (2015) 22 506-529

The Chinese University of Hong Kong Faculty of Law Research Paper No. 2015-11

23 Pages Posted: 3 Dec 2015

See all articles by Anatole Boute

Anatole Boute

The Chinese University of Hong Kong (CUHK) - Faculty of Law

Date Written: December 1, 2015

Abstract

Regulatory instability and unpredictability are important concerns for energy investors in Russia – concerns that are exacerbated by the deteriorating economic situation, structural changes in global energy markets and increasing geopolitical tensions between Russia and the ‘West’. In these challenging times for energy investments, this article examines how Russia could benefit from the EU experience with the ‘stabilization’ of energy markets by looking at legal certainty and regulatory independence. A comparative analysis of regulatory stability in the EU and Russia highlights a common recognition of the importance of investment certainty for energy security. At the same time, this comparison brings forward shared difficulties to guarantee stability – in particular regarding the crucial issue of energy pricing – in a way that does not affect states’ regulatory flexibility. Focusing on shared difficulties – rather than advocating EU law as ‘model’ – can help overcome the reduced ‘prestige’ of EU norms in Russia in the current geopolitical context.

Keywords: energy law; external (EU-Russia) energy relations; legal certainty; regulatory

Suggested Citation

Boute, Anatole, Regulatory Stability Under Russian and EU Energy Law (December 1, 2015). Maastricht Journal of European & Comparative Law (2015) 22 506-529, The Chinese University of Hong Kong Faculty of Law Research Paper No. 2015-11, Available at SSRN: https://ssrn.com/abstract=2697935

Anatole Boute (Contact Author)

The Chinese University of Hong Kong (CUHK) - Faculty of Law ( email )

6/F Lee Shau Kee Building
Shatin New Territories
Kowloon, Sha Tin
Hong Kong

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