The Report is published further to the attribution of the 2011 Energy Transparency Award (ETA). The ETA prize is assigned every year by the Florence School of Regulation to a company or institution for their particular contribution to the transparency of energy markets in Europe. The ETA is financed by a fund managed by the Florence School of Regulation and RWE is the initiator and the sponsor of the initiative. The purpose of the ETA is the promotion of transparency, which plays a fundamental role in favouring market well-functioning as well as economic and technical efficiency.