Investment projects of interest to the Community in the petroleum, natural gas and electricity sectors

- OBJECTIVE: to remedy the problems encountered in connection with the implementation of Regulation (EEC) No 1056/72 on notifying the Commission of Community investment projects in the petroleum, natural gas and electricity sectors and to ensure that the information collected is as useful as possible. - SUBSTANCE: The Commission proposed repealing Regulation (EEC) No 1056/72, as amended by Regulation (EEC) No 1215/76, and reformulating it in a new regulation incorporating the amendments which it judged necessary. The proposal: . emphasized that the information gathered pursuant to the regulation was needed for the Commission's on-going activities and that these data constituted the only source of official information available to the Commission's services on developments in production, processing and transmission capacity in the electricity, petroleum and natural gas sectors; . leaves Member States free to decide the means they use to provide the information required to meet the objectives set out in the regulation; . amends the dates for the provision of data (15 April and 15 March instead of 15 February and 15 January); . reduces the list of data specified in the Annex to the regulation. The Commission will revise the regulation when experience shows that further amendments are needed in order to increase its effectiveness. �