‘critical network element’ means a network element either within a bidding zone or between bidding zones taken into account in the capacity calculation process, limiting the amount of power that can be exchanged.

30. Highlights that the shared electricity market between Austria and Germany is furthering the implementation of an integrated European energy market; acknowledges that the common bidding zone – which was introduced in 2002 – means that the wholesale electricity prices in these two countries are the same, and ensures unlimited electricity trading and security of supply of almost 100 %; notes that the Austrian-German bidding zone is the only relatively large zone in Europe shared by two countries; notes that larger bidding zones support the necessary characteristics of a well-functioning and liquid electricity market, qualified to red ...[+++]uce trading costs, to provide resilient price signals for investment decisions and to foster more competition; calls for a rapid development of grids to allow the integration of renewable energy in the electricity market, and to guarantee grid stability, especially in southern Germany; calls for the retention of this success model and an enlargement of the bidding zone;

96. Stresses that larger bidding zones advance the implementation of the internal energy market and increase market efficiency, competition and liquidity; points out that, taking into account the increasing share of renewables, such zones support the necessary characteristics of a well-functioning and liquid electricity market; notes that increased liquidity leads to reduced trading costs, resilient price signals for investment decisions, better hedging for plant operators and more competition, which in turn leads to lower energy prices;

an integrated financial framework to ensure financial stability, in particular in the euro area, and minimise the cost of bank failures to European citizens; such a framework elevates responsibility for supervision to the European level, and provides for common mechanisms to resolve banks and guarantee customer deposits;

Submarine sediment deposits on the continental shelf can be used where there is a shortage of sediment in the coastal system.

(12) The non-interest-bearing deposit should be released upon correction of the excessive deficit while the interest on such deposits and the fines collected should be assigned to stability mechanisms to provide financial assistance, created by Member States whose currency is the euro in order to safeguard the stability of the euro area as a whole .