Discovering new frontiers
Joerg Engels and Volker Linde report on the changes Germany’s deregulated energy market will have to make as a result of the country’s banking act
Germany followed a different path of energy liberalisation from other countries in Europe. Liberalisation happened at a stroke, without a regulatory authority – such as the UK’s Office of Gas & Electricity Markets – being installed. Until this time the energy industry was of little relevance to Germany’s banking supervisory office, the Bundesaufsichtsamt fuer das Kreditwesen (BAKred)1.
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