Europex response to the proposed revisions of the ACER Regulation: a need for clarity and consistency

Brussels, 19 October 2017 | The proposal for the recast ACER Regulation and the revised Council text positively recognise the important contribution energy exchanges make towards a more integrated electricity market. However, Europex underlines the need for more precision on new ACER powers to oversee Nominated Electricity Market Operators (NEMOs), who perform market coupling operations. The recast Regulation should also ensure consistency with the recast Electricity Regulation and the Network Codes and Guidelines already in place. With this in mind, and as the text is further discussed in the European Parliament and the Council, Europex highlights three key points: Clearer
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Categories: Position Papers.

Updating and improving EMIR – Europex comments on Commission’s EMIR amendment proposal

Brussels, 13 October 2017 | Europex welcomes the European Commission’s recently tabled EMIR amendment proposal that is currently being discussed by the European Parliament and the Council. We strongly support its aim to simplify reporting obligations and improve data quality. We believe that the proposal takes the right approach by reducing the burden on Non- Financial Counterparties (NFCs) and smaller Financial Counterparties (FCs). We explicitly share the goal to increase transparency with respect to clearing and reporting. In the following, we would like to comment on four key aspects of the Commission’s proposal: 1. Single-sided reporting by Central Counter Parties (CCPs)
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Categories: Position Papers.

RED II: the benefits of auctioning GOs for supported energy & why auctions will help improve the system

Brussels, 9 October 2017 | New rules for Guarantees of Origin (GOs) for energy produced under RES support schemes are one important novelty of the Commission’s proposal for a recast of the Renewable Energy Directive, an integral part of the Clean Energy for All Europeans package. The proposed amendment to Article 19 stipulates that no GOs shall be issued for energy receiving financial support from a support scheme, such as a feed-in tariff system. Instead, Member States shall issue such GOs and introduce them to the market through auctions. The revenues raised by the auction shall be used to offset
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Categories: Position Papers.

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.