Microgeneration Outlook - Design for Micro-Combined Cooling, Heating and Power Systems - page 14

to unbundle all the links in the energy chain (see Fig. 1 ) and considerable efforts
have been made in this sense. 9 The end result is to have a fully liberalised internal
energy market for both gas and electricity.
The effects of market liberalisation are also closely connected with stimulation of
fair and dynamic competition within the entire European Union. This is a strategic
instrument entailing easy access to the market, giving consumers free choices for
energy suppliers and creating a level playing field for new comers into the market.

Consequently, needs and

responding to challenges, accessible, granting easy connection to all network users,
reliable, assuring and improving the security and quality of supply and economic,
providing best value through innovation, ef

the market becomes flexible, ensuring consumers '

cient energy management and level

playing field for competition and regulation [ 47 ].

In order to ensure the ef

cient implementation of the internal energy market,
innovation and investments is the key. The market must continuously meet the
requirements of the vibrant business environment in “ guaranteeing high security,

quality and economic ef [ 48 ]. Accordingly, investments in innovation

(R&D) are fundamental not only to achieve the fully liberalised internal energy
market but also to secure the energy and help mitigate climate changes.
Moreover, all these interlinked components of the internal energy market have a
multi-layer effect. The fully liberalised highly ef

ciency ”

cient and competitive internal
energy market makes energy a universal service for all consumers who should
enjoy full bene

ts. Having a liberalised and competitive market put pressure on
prices, linked to the de energy at affordable prices.

Combined with energy management, it leads to energy savings in terms of eco-
nomic value (cutting the energy bill). Adding investments and innovation, it creates
new and easy market entries for a large plethora of energy players, increases
revenues and boosts job creation along the process.
The impact of an ef

nition for security of supply —

cient internal energy market stretches over microgeneration
systems too, covering the entire link from production to use. In this sense, pro-
motion and investments in R&D increase the business opportunities for techno-
logical producers, while increased competition lowers the prices of equipments and
leverages their ef

ciency. Combined with appropriate incentives, the market is
accessible to all energy producers, “ especially the smallest and those investing in

renewable forms of energy ” [ 49 ], high-ef ciency local generation with zero or low-

carbon emissions.
Lastly,

finding optimum solutions to all these challenges is not an easy task.
Nonetheless, their successful overcoming will ultimately lead to increased welfare
of European citizens and strengthen the position of the European Union as a global
energy leader. Together with the right legal instruments and enforcement measures,
there might be a way of solving.

9 The unbundling process started from unbundling Transmission System Operators (TSOs),
Distribution System Operators (DSOs) to nowadays unbundling consumers, the last link in the
energy chain and engaging them in the internal energy market. This is also the reason for
previously starting directly from the downstream market of microgeneration systems.