322 / 473
ENERGY LAW
309
Conclusion
The New EML introduces some important changes in the current
electricity market system. These include: amendments to license types,
framing its provisions around each type of market activity, specific
provisions for certain license types (i.e. distribution, supply and
generation), the introduction of a preliminary licensing mechanism and
investment incentives such as extended deadlines and grace periods
for environmental compliance. The New EML also introduces EPIAS
which will be an independent private company authorized for the market
operation activity.
The principle reason for drafting the New EML was that the Previous
Law was not sufficient to follow the factual progress achieved by the
market actors and regulatory authorities since 2001. The goal is that the
law, as the primary legislation, shall guide the market actors in the future
and constitute a legal basis for secondary legislation. Harmonization with
European Union legislation and the composition of a new market with a
secure supply that generates investor interest are the other reasons behind
the new law.
The systematic of the New EML is based on the market activities.
Therefore, one can argue that it is neatly drafted when compared with
the Previous Law. On the other hand, from a legal technical point,
transformation of the Previous Law to EMRA Law and the lack of
succession between its articles after this transformation can be criticized.