Key elements of the legal status of the natural gas market regularory institutions in Lithuania and in the European Union member states: a comparative analysis.

Abstract

The article analyses the legal status of the natural gas market regulatory institutions in Lithuania and in the member states of the European Union (EU). First, the authors assess the most important elements of the legal status of the natural gas market regulators in the EU member states, namely, the degree of autonomy (type of institution, appointment and dismissal procedures of management, duration of the terms of office, sources of funding) and the measures aimed at ensuring accountability, transparency, and prevention of conflicts of interest. Second, the legal status of the National Control Commission for Prices and Energy (Commission), which carries out functions of regulation and control of the natural gas sector in Lithuania, is examined. Finally, the authors conclude that the imperfections in the regulation of the legal status of the Commission result in several negative effects and provide reasoned proposals regarding the improvement of the legal status of the Commission.