Brussels, 10 September 2020 | Europex launches today its new report: ‘The Impact of Financial Services Regulation on European Wholesale Energy Markets – A Post-MiFID II Analysis’, a collaboration between Europex and Norton Rose Fulbright LLP. Since the introduction of MiFID II / MiFIR in January 2018, the relationship between energy markets and financial services regulation has fundamentally changed. The main lesson from the last two and a half years of experience is that the broad brush of financial services regulation sometimes fails to reflect the specific nature of energy commodity markets. Against this backdrop, the report analyses the effects of
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Archives for Press Releases
Joint EFET-Eurogas-Europex-IETA letter on the future of carbon pricing and emissions trading in the UK
Brussels, 22 June 2020 | Together with the European Federation of Energy Traders, the International Emissions Trading Association and Eurogas, Europex has sent a letter to the Department for Business, Energy and Industrial Strategy (BEIS) to request more clarity on the UK’s future approach to carbon pricing and emissions trading. The joint letter urges the UK Government to provide clarity on the following matters: The approach to carbon pricing in the UK post-Brexit and a timeline indicating the main actions foreseen for the development and implementation of the given approach. Should a linked UK ETS be the chosen option for
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Europex General Assembly elects Kari Ekelund Thørud as new Board Member
Brussels, 14 April 2020 | In a digital election last week, the Europex General Assembly elected Kari Ekelund Thørud, CEO at Nord Pool, as a new Europex Board Member. She succeeds Erling Thiis, formerly CFO at Nord Pool, who had resigned from his role as Europex Board member on 31 March 2020. Kari Ekelund Thørud serves as CEO of Nord Pool Group since 1 June 2018 and looks back at an extensive experience in the energy industry. She is based in Lysaker, Norway.
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COVID-19: Europex members remain fully operational to ensure orderly market functioning
Brussels, 23 March 2020 | COVID-19 continues to have a significant impact on people, businesses and markets around the world. The priorities of the energy exchanges in Europe are to make sure that their staff are safe and that the spread of the virus is contained. At the same time, they ensure that the critical infrastructure they provide to support the orderly functioning of energy markets remains available at all times. Reliable price signals are key, especially in times of high market volatility and when faced with the need to adapt quickly to an evolving crisis situation. While energy commodity
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MIBGAS, the Iberian Gas Exchange, joins Europex
Brussels, 12 February 2020 | MIBGAS S.A., the Iberian Gas Exchange, has joined Europex as a full member as of today. The activities of MIBGAS are designed to increase competition within the gas sector, increase security of supply for consumers and foster liquidity by ensuring non-discriminatory and equal access to the gas market in the Iberian Peninsula. Spot and prompt products are traded on MIBGAS, including within-day, day-ahead and month-ahead natural gas contracts, all with physical delivery at the Iberian virtual balancing point (PVB or Punto Virtual de Balance). Non-financial derivatives with a time horizon beyond month ahead are traded
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MEMO joins Europex as Associate Member
Brussels, 18 December 2019 | MEMO Ltd, the National Electricity Market Operator of North Macedonia, has joined Europex as an Associate member as of today. MEMO was formally established on 31 July 2018 and started operations on 1 October 2019. MEMO has been tasked with establishing an electricity spot exchange (day-ahead and intraday) for North Macedonia and is in the process of becoming a Nominated Electricity Market Operator (NEMO) for future market coupling operations with neighbouring countries. It already carries out various tasks of a ‘delegated operator’, e.g. imbalance settlement calculations and invoicing. In addition, it acts as the single
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Ukrainian Energy Exchange (UEEX) joins Europex as Associate Member
Brussels, 23 October 2019 | UEEX, the Ukrainian Energy Exchange, has joined Europex as an Associate member as of today, 23 October 2019. Founded in 2010, UEEX operates markets in electricity, natural gas, oil and gas condensate, liquefied gas, coal products, raw materials and other products. It offers long- and short-term trading as well as clearing solutions. UEEX is active in Ukraine, which is a Contracting Party to the Energy Community Treaty and commited to implementing all relevant EU energy legislation, to develop an adequate regulatory framework and to liberalise their energy markets. With UEEX, Europex now consists of 28
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Europex General Assembly elects new leadership team for 2020-2021
Brussels, 30 September 2019 | The Europex General Assembly, during a regular meeting in Zadar, Croatia, on 27 September 2019, held elections for the upcoming 2020-2021 mandate. Pieter Schuurs, President and COO of ICE Endex, was re-elected as Europex Chairman and will serve his second full term. Borut Rajer (Director of Operations, Borzen), Erling Thiis (CFO, Nord Pool), Jonas Törnquist (COO and Member of the Management Board at EPEX SPOT) and Artur Trindade (President of OMIE and Chairman and CEO of OMIP) will also continue in their roles as Board members. Piotr Zawistowski (President of the Management Board, TGE) was
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SPIMEX joins Europex as Associate Member
Brussels, 1 July 2019 | SPIMEX, the Saint Petersburg International Mercantile Exchange, has joined Europex as an Associate member as of today, 1 July 2019. Founded in 2008, SPIMEX is Russia’s largest commodity exchange, offering spot and derivatives trading for a broad range of products. Commodities traded on the exchange include refined oil products, crude oil, natural gas, LPG, timber and construction materials. The exchange’s mission is to operate a transparent, fair and efficient price formation mechanism for Russian commodity markets. With this latest addition, Europex now counts 27 members.
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Europex welcomes strengthened role for long- and short- term markets under new EU electricity market design rules
Brussels / Strasbourg, 26 March 2019 | Europex, the Association of European Energy Exchanges, welcomes today’s adoption of the four remaining files of the Clean Energy for All Europeans package by the plenary of the European Parliament. These concern the recast Electricity Regulation and Directive, the Regulation on risk-preparedness in the electricity sector and the recast ACER Regulation. This new framework represents significant progress towards the further integration of the EU Internal Energy Market. In the following, we would like to highlight four major improvements: 1. A strengthened role for electricity wholesale markets, based on the principle of free price
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