Preliminary reports from the utilities are expected by the 15th of August, final reports by the 31st of October. The reports produced by regulators following their reviews of the measures taken and the documentation submitted by the licensees have to be ready by 15th of September (preliminary), respectively by the end of 2011 (final). In the first quarter of 2012 there will be peer reviews conducted by the regulatory authorities. The "stress tests" are voluntary and the measures for improvement are at the discretion of each country. There is no enforcement mechanism but a lot of peer pressure. Also, the results of the "stress tests" will have to be made public (to the extent practicable, given the fact that some information may be classified due to security reasons).
You can find all this info in this file: http://ec.europa.eu/energy/
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