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Newssquare Bulgarian Gas Market – Gas Release Program

Following the amendments to the Bulgarian Energy Act aiming to ensure completion of the gas market liberalization and enhance liquidity, on 15 October 2019 Bulgargaz submitted for approval to the Bulgarian energy regulatory body – EWRC, a draft Agreement for the implementation of a gas release program (GRP). The GRP imposes obligations on the Bulgarian incumbent Bulgargaz to release certain gas quantities by way of business-to-business auctions for a duration of five (5) years effective as of 1 December 2019.

 

Please download from below to read more.

 

Newssquare Croatian Ultimate Beneficial Owners Register: Deadline - 31 December 2019

In line with the EU's 4th AML Directive, Croatia has imposed an obligation on all locally established legal entities to register their ultimate beneficial owner(s) with a newly established register by 31 December 2019. The register is intended to increase transparency in business and combat money laundering & terrorist financing. Similar efforts are underway or complete in other CEE /SEE countries. To learn more about how the new register in Croatia may impact your business, please download from below.

Newssquare Romania Updates Its Construction Laws To Encourage Real Estate Development And Reduce Administrative Hurdles

Romania has drastically simplified its administrative rules regarding the construction of new buildings, including the issuance of permits. The changes are designed to reduce bureaucratic hurdles and encourage even more domestic construction. The changes have been welcomed by many to improve a relatively out-of-date framework. The amendments are likely to grease the wheels for further real estate development. You can download and read more about the details and our analysis below.

Newssquare Romania Adopts The Single European Solution For Coupling Intraday Markets Together With Bulgaria, Croatia, The Czech Republic, Hungary, Poland And Slovenia

Romania has adopted the single European solution for coupling intraday markets, along with regional neighbors Bulgaria, Croatia, Slovenia, Hungary, Poland and the Czech Republic. Romania will launch the second wave of coupling of intraday electricity markets on 19 November 2019.

Newssquare Poland: New Rules Aim To Protect SMEs From Late Payments From Larger Companies

In the second part of our analysis on the new rules in Poland for payment terms in commercial transactions, we look at provisions set out to protect SMEs. Until recently in Poland, large companies often used their strong market position to shift the financial burden of debt onto SMEs by neglecting to make payments in a timely fashion. The new rules seek to limit this, although the changes to the law designed to protect SMEs might be abused in practice. To learn more about how the new rules may affect your company, please download from below.

Newssquare Chambers Global Practice Guide – Private Equity (Austria) 2019

The Austrian Private Equity market continues to be seller-friendly and busy. Read about recent trends and developments in our contribution to "Chambers Global Practice Guide – Private Equity (Austria) 2019".

Newssquare Bulgarian Energy Law Amendments Introduce Domestic Natural Gas Exchange

In an important step towards further liberalization of its natural gas market, Bulgaria recently published important amendments to its Energy Act, introducing a new framework for a domestic natural gas exchange. The changes aim at enhancing the liquidity and liberalization of the natural gas market, with potentially important implications for businesses with interests in the industry. The Amending Act sets a short timeline for implementation - key rollout dates are planned for as soon as late 2019 and early 2020, and specific mechanisms for implementation are expected in forthcoming secondary legislation.

 

Important details can be found below.

Newssquare Neue Schwellenwerte ab 1.1.2020

Ab dem 1.1.2020 treten neue Schwellenwerte für Auftragsvergabeverfahren für die nächsten zwei Jahre (2020 und 2021) in Kraft. Die EU-Kommission hat im Oktober 2019 die neuen, deutlich gesunkenen Schwellenwerte angekündigt. Die Veröffentlichung erfolgt voraussichtlich im Dezember 2019.

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