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Third Energy Package
A package of regulations whose objectives are to further open up the gas and power trading in the EU and move towards a single market. The Third Energy Package was adopted in 2009 and led to the creation of the Agency for the Cooperation of Energy Regulators (ACER). Key elements of the package include further ownership unbundling (i.e. decoupling generation from supply and distribution), the further introduction of independent system operators (ISO), and rules to benefit consumers.
* see also Agency for the Cooperation of Energy Regulators (ACER)