CHAPTER 1General provisions
Article 1Subject matter and scope
1
This Regulation establishes a governance mechanism to:
a
implement strategies and measures designed to meet the objectives and targets of the Energy Union and the long-term Union greenhouse gas emissions commitments consistent with the Paris Agreement, and for the first ten-year period, from 2021 to 2030, in particular the Union's 2030 targets for energy and climate;
b
stimulate cooperation between Member States, including, where appropriate, at regional level, designed to achieve the objectives and targets of the Energy Union;
c
ensure the timeliness, transparency, accuracy, consistency, comparability and completeness of reporting by the Union and its Member States to the UNFCCC and Paris Agreement secretariat;
d
contribute to greater regulatory certainty as well as contribute to greater investor certainty and help take full advantage of opportunities for economic development, investment stimulation, job creation and social cohesion.
The governance mechanism is based on long-term strategies, integrated national energy and climate plans covering ten-year periods starting from 2021 to 2030, corresponding integrated national energy and climate progress reports by the Member States and integrated monitoring arrangements by the Commission. The governance mechanism ensures effective opportunities for the public to participate in the preparation of those national plans and those long-term strategies. It comprises a structured, transparent, iterative process between the Commission and Member States for the purpose of the finalisation of the integrated national energy and climate plans and their subsequent implementation, including with regard to regional cooperation, and corresponding Commission action.
2
This Regulation applies to the five dimensions of the Energy Union, which are closely related and mutually reinforcing:
a
energy security;
b
internal energy market;
c
energy efficiency;
d
decarbonisation; and
e
research, innovation and competitiveness.