From regional markets to a single European market

The process of moving from national electricity and gas markets to a single internal European energy market, through the interim step of regional markets is presented. For this purpose, this document includes, in turn, an overview on European energy markets so far, including the First and Second Legislative Packages on Energy; an analysis of the Regional Initiatives as a vehicle to facilitate progress towards integration, collecting and assessing progress made as of today; the Third Legislative Package on Energy and its main implications for the process of integration; and the way forward towards the creation of a single European energy market.