Monday, 24 October 2011

Wholesale electricity trading receives jolt from EU

The EU has adopted new stringent rules on wholesale energy trading.

The main objective is to prevent use of insider information and other forms of market abuse which distort wholesale energy prices.

This is an important step in energy trading as it will be the it will be screened at EU level, a task which will be carried out by the Agency for the Cooperation of

Energy Regulators (ACER), to uncover abuses, while national authorities in member states will enact penalties to help stop and prevent market manipulation.
The main tasks of ACER will be to collect the data needed to assess and monitor wholesale energy markets.

The ACER will establish a European register of market participants based on the information provided by national regulatory authorities. The new rules also prohibit insider trading and market manipulation and establish provisions on an obligation to publish inside information.

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