BRUSSELS (Dow Jones)--The European Parliament voted Wednesday to allow energy giants to keep ownership of their gas grids, however under stricter supervision than European Union countries had agreed on.
The European Commission originally proposed to force energy companies to sell their networks, thus making grid access easier, increasing competition and lowering end-user prices. However, in June it came to a compromise with the 27 E.U. countries under which energy companies will still be able to own their grids.
The parliament affirmed that companies will be able to keep ownership of their networks, but under stricter supervision than agreed the 27 governments. The assembly decided that regulators should appoint an "independent trustee," to make sure the owner runs the grid operating unit independently, and no conflict of interest arises.
The Parliament and the 27 E.U. governments will have to agree on a common proposal text before it can become law.