State of compliance
The State Electricity Regulatory Commission (SERC) continued to be pro-active in implementing the acquis. This deserves particular acknowledgement having in mind that SERC is the only Contracting Party regulator whose set-up does not comply with the Third Package requirement for a single regulatory authority for electricity and gas. SERC adopted the electricity Network Codes and is the only Contracting Party regulator that complies with the obligation to publish criteria based on which derogations from these Network Codes can be granted. SERC is also a front-runner in transposing and implementing the REMIT Regulation.