Europex Response to the ENTSO-E Public Consultation for the Design of TERRE and RR Harmonised Balancing Area

Brussels, 16 August 2017 | The attached overview summarises the Europex responses to the ENTSO-E public consultation questionnaire for the design of TERRE (Trans European Replacement Reserves Exchange) and RR Harmonised Balancing Area. Please download the full consultation response below.
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Categories: Consultation Responses.

The recasts of the Electricity Regulation and the Electricity Directive: our six key messages

Brussels, 9 August 2017 | As set out in our previous positon paper on the proposals for a recast of the Electricity Regulation and Directive, Europex welcomes the recognition of the central role of energy exchanges and the importance of strong market price signals in all Member States. However, we believe that a number of aspects can be strengthened in order to ensure well-functioning, liquid, efficient and transparent electricity markets in Europe. In the following, we highlight six key areas where we believe amendments to the Electricity Regulation recast proposal are necessary. Please read the full position paper, the amendments
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Categories: Position Papers.

Europex amendment proposals to the recasts of the Electricity Regulation and the Electricity Directive

Brussels, 9 August 2017 | In the following table, Europex publishes its detailed suggested amendments to the proposals for a recast Electricity Regulation and Directive. We put forward amendments in ten key areas to ensure well-functioning, liquid, efficient and transparent electricity markets in Europe. Please find the full amendments table, the key messages and the amendments presentation below.
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Categories: Position Papers.

All NEMOs MCO Plan

National Regulatory Authorities approve NEMO proposal to establish European Market Coupling Operator functions to further integrate day-ahead and intraday markets (the “MCO Plan”) Cosimo Campidoglio elected as new Chairperson of NEMO Committee 24 July 2017. We are pleased to announce that, following extensive discussion and collaboration between Nominated Electricity Market Operators (NEMOs) and National Regulatory Authorities (NRAs), all NRAs approved the MCO Plan on 26 June 2017. The MCO Plan includes all the necessary steps to accomplish a European market coupling operator function to integrate European day-ahead and intraday power markets. In April 2016, the NEMO Committee, representing all 17
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Categories: All NEMOs.

NRAs approve NEMO MCO Plan proposal to establish European Market Coupling Operator functions

National Regulatory Authorities approve NEMO proposal to establish European Market Coupling Operator functions to further integrate day-ahead and intraday markets (the “MCO Plan”) Cosimo Campidoglio elected as new Chairperson of NEMO Committee 24 July 2017. We are pleased to announce that, following extensive discussion and collaboration between Nominated Electricity Market Operators (NEMOs) and National Regulatory Authorities (NRAs), all NRAs approved the MCO Plan on 26 June 2017. The MCO Plan includes all the necessary steps to accomplish a European market coupling operator function to integrate European day-ahead and intraday power markets. In April 2016, the NEMO Committee, representing all 17
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Categories: Press Releases.

Europex feedback to Part 1 of the “Quo vadis EU gas market” study

Brussels, 10 July 2017 | In reaction to a stakeholder workshop that the European Commission organised recently in the context of the “Quo vadis EU gas market?” study, Europex provides its feedback on the methodology and other aspects of the preliminary report. The main comments on the direction of the preliminary report are as follows: Europex considers that the current regulatory focus should be on ensuring a level playing field for all market actors and the consistent and comprehensive implementation and application of the 3rd Energy Package and the Network Codes throughout all Member States. There are still major deviations between Member States and the full and effective
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Categories: Position Papers.

MiFID II: need for an equal regulatory treatment of Long-Term Transmission Rights (LTTRs) to enable an efficient regime for secondary trading

Brussels, 04 July 2017 | Europex supports the classification of Financial Transmission Rights (FTRs) as financial instruments under MiFID II. This helps fostering a well- functioning, efficient electricity markets and will ensure an efficient regime for secondary trading of FTRs. In addition, there is a significant need for more regulatory clarity as regards Physical Transmission Rights (PTRs) in order to create a level playing field for LTTRs. One of the objectives of the Capacity Allocation and Congestion Management Guideline (CACM GL) as well as the Network Code on Forward Capacity Allocation (NC FCA) is to optimise hedging opportunities for market participants,
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Categories: Position Papers.

General Assembly welcomes Europex Market Vision Paper

Brussels, 16 June 2017 | At a recent meeting in Istanbul, Turkey, the General Assembly of Europex, was presented with a forward-looking study on “Exchanges – At the Core of the Future Energy Market”. The document is the result of a collective effort by all Europex members over a five-month period. In the 33-page study, Europex provides its vision of the future of the energy markets in Europe and highlights key requirements on how to maintain and further strengthen the orchestrating role of well-functioning, efficient energy spot and derivative markets on the pathway to a clean energy system. Besides outlining
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Categories: Press Releases.

Exchanges: At the Core of the Future Energy Market. Our Vision for an Evolving Energy Sector

Brussels, 16 June 2017 | The European Union and its Member States successfully unbundled and liberalised their energy markets. Power and gas retail, gas wholesale and power generation have been opened to competition between utilities and for new competitors. Open and non-discriminatory access to grids has proven to be a cornerstone of the successful liberalisation. Wholesale markets make unbundling possible and allow new competitors to enter the market. Retailers, gas wholesalers and power producers can buy or sell power and gas, market their assets and secure themselves against risks. Consumers can now choose between competing suppliers and profit from better offers, facilitated
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Categories: Position Papers.

VAT fraud – A persisting threat to gas, electricity and emissions trading. Need for a prolongation of existing derogation and an extension to all Member States

Brussels, 31 May 2017 | The VAT fraud in energy and emissions trading continues to pose a serious threat to European Exchequers and energy and emissions markets alike. The existing preventive mechanisms, like the derogations enabling Member States to implement a domestic reverse charge mechanism on gas, electricity and emissions transactions between taxable persons and taxable dealers as resellers, need to be continued and further extended. Active action must be taken by the European Commission, the Council of the EU and the relevant bodies at Member State level to protect energy and emissions trading from a repetition of large scale
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Categories: Consultation Responses.