updated: 26 May 2017



Attracting investment is the rationale behind many of the measures and actions taken by the Energy Community. Yet, private investment has remained far below the levels hoped for when establishing the Energy Community. Besides incorporating EU legislation, the Treaty does not offer any specific instruments which could help promote investments.


In the European Union a new financial instrument, Connecting Europe Facility, was developed to support the implementation of Projects of Common Interest (PCIs). In the  Energy Community context, there is limited specific funding  available to support these projects at a cost of capital that could be borne by the  energy consumers.  In the current constrained financial and microeconomic  environment, this constitutes a real disadvantage.


To put the right emphasises on the issue, the Secretariat prepared a special report on investments as part of its  annual Implementation Report 2015.


The Investment Report provides an analysis of the energy infrastructure investment pattern over the last 20 years and the obstacles faced by the Contracting Parties in attracting investment. It outlines some of the key measures taken by the Energy Community in the investment area to try to overcome these obstacles. This includes the adoption of PECIs. To this end, the Report presents the most recent state of progress of the PECIs. 


The Report concludes that energy infrastructure investments have been significantly slowed down by the double dip recession in the Western Balkans and the gas crisis in Ukraine. 








There is separate subsection on the PECIs, providing details on the 2013 and 2016 lists, explaining the methodology, the steps behind and ahead. The section also contains information on the available Technical Assistance, including related Studies and Events.