20.7.2006 Official Journal of the European Union L 198/15 I (Acts whose publication is not obligatory) COUNCIL COUNCIL DECISION of 29 May 2006 on the conclusion by the European Community of the Energy Community Treaty (2006/500/EC) THE COUNCIL OF THE EUROPEAN UNION, (3) Having regard to the Treaty establishing the European Community and in particular Articles 47(2), 55, 83, 89, 95, 133 and 175, in conjunction with the first sentence of the first subparagraph of Article 300(2) and the second subparagraph of Article 300(3) thereof, Having regard to the proposal from the Commission, Having regard to the assent of the European Parliament (1), Whereas: (1) In accordance with the Council Decision of 17 May 2004, the Commission has negotiated the Treaty estab- lishing the Energy Community, hereinafter referred to as ‘the Energy Community Treaty’, with the Republic of Albania, the Republic of Bulgaria, Bosnia and Herze- govina, the Republic of Croatia, the former Yugoslav Republic of Macedonia, the Republic of Montenegro, Romania, the Republic of Serbia and the United Nations Interim Administration Mission in Kosovo (pursuant to United Nations Security Council Resolution () 1244) with the view to establishing an Integrated Energy Market Organisation in South-East Europe. (2 On 25 October 2005, in accordance with the Council Decision of 17 October 2005, the Energy Community Treaty was signed on behalf of the Community. (!) Opinion delivered on 18 May 2005 (Not yet published in the Official Journal). The Energy Community Treaty provides for the creation of an integrated market in natural gas and electricity in South-East Europe which will create a stable regulatory and market framework capable of attracting investment in gas networks, power generation and transmission networks, so that all Parties have access to the stable and continuous gas and electricity supply that is essential for economic development and social stability. It enables a regulatory framework to be set up, permitting the efficient operation of energy markets in the region, including issues such as congestion management, cross-border flows, power exchanges and others. It therefore aims at promoting high levels of gas and electricity supply to all citizens based on public service obligations, and achieving economic and social progress and a high level of employment. ‘The Thessaloniki Agenda for the Western Balkans: moving towards European integration’, endorsed by the European Council in June 2003 aims at further strengthening the privileged relations between the European Union and the Western Balkans. By creating favourable economic conditions and imposing the imple- mentation of the relevant acquis communautaire, the Energy Community Treaty contributes to the economic integration of the other parties to that Treaty. The Energy Community Treaty enhances the security of supply of the parties to that Treaty by connecting Greece to the continental European Union gas and electricity markets, and providing incentives to connect the Balkans to the Caspian, North African and Middle East gas reserves. The Energy Community Treaty makes possible the devel- opment of energy market competition in a broader scale and the exploitation of economies of scale.