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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Categories: Press Releases.

Europex Response to the ESMA MiFID II / MiFIR Review Report on the Transparency Regime for Non-Equity Instruments and the Trading Obligation for Derivatives

Brussels, 12 June 2020 | Europex fully supports the objectives of MiFID II / MiFIR and the G-20 Pittsburgh commitments to “improve the functioning and transparency of financial and commodity markets and address excessive commodity price volatility”. We equally agree with the general intention of the MiFIR pre-trade transparency regime which is meant to work towards this larger policy objective. However, we believe the current calibration of the illiquid (“IL”) and Large in Scale (“LIS”) waiver thresholds severely limits the development of niche and nascent contracts traded on secure and transparent exchanges and cleared through risk mitigating CCP clearing houses.
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Categories: Consultation Responses.

Europex response to Commission consultation paper for the EU climate ambition for 2030 and for the design of certain climate and energy policies of the European Green Deal

Brussels, 11 June 2020 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to take part in the present consultation. The European Green Deal must be a central pillar of the EU’s recovery efforts in the aftermath of the COVID-19 pandemic and in response to the looming climate and environmental crisis. Against the background of the intended 2030 Climate Target Plan and its subsequent legislative implementation, the opportunity should now be taken to put in place a coherent EU-wide policy framework to deliver the raised emissions reduction ambition at the least cost. With this in mind, it is
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Categories: Consultation Responses.

Europex feedback on the Preparation of the EU Hydrogen Strategy

Brussels, 8 June 2020 | Europex welcomes the Commission’s initiative to develop a dedicated EU Hydrogen Strategy. We are convinced that traded markets can and will act as enablers for a future usage of hydrogen on a broader scale, including in those sectors where it still has very limited penetration such as transport, buildings and power generation. Given the importance and complexity of the topic, there should be strong stakeholder involvement in both the development and implementation of the EU Hydrogen Strategy. It is key that the integration of hydrogen into the Internal Energy Market is considered from the beginning
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Categories: Consultation Responses.

Europex response to the Commission consultation in preparation of an EU Strategy on Energy System Integration

Brussels, 4 June 2020 | Europex supports a vision of an integrated energy system in which the various energy carriers or forms of energy (electricity, gas, liquids, heat, cold etc.) can be linked with each other as well as with the end use sectors (buildings, mobility, industry, agriculture, households) in order to optimise the energy system as a whole, i.e. producing, transporting and consuming energy in the most sustainable and cost-efficient way possible. To enable this goal, well-functioning energy and environmental markets are required to stimulate competition and innovation, allowing the most efficient technologies to emerge. When developing regulation to
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Categories: Consultation Responses.

Europex response to Commission consultation on the review of the MiFID II/MiFIR regulatory framework

Brussels, 18 May 2020 | Europex fully supports the underlying policy objectives of MiFID II / MiFIR and the G-20 Pittsburgh commitments to “improve the functioning and transparency of financial and commodity markets and address excessive commodity price volatility”. However, more than two years after the MiFID II / MiFIR framework started to apply, we believe that these objectives have not yet fully materialised as far as commodity derivatives markets are concerned, notwithstanding the heavy burden already imposed on the industry. This concerns in particular the MiFID II position limits and position management regime as well as the MiFIR pre-trade
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Categories: Consultation Responses.

Europex response to the Commission consultation on the priority list for the development of network codes and guidelines on electricity for the period 2020-2023 and on gas for 2020 (and beyond)

Brussels, 14 May 2020 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to take part in the present consultation. Our response addresses the proposed priorities for new electricity network rules on cybersecurity and demand-side flexibility.   Please download the full consultation response below.
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Categories: Consultation Responses.

Europex response to ACER consultation on bidding zone review methodology

Brussels, 24 April 2020 | The bidding zone review and resulting decision on the configuration has fundamental consequences for the electricity market in all timeframes. Europex welcomes the opportunity to provide input into ACER’s public consultation on the methodology and assumptions to be used in the bidding zone review process. It is important to ensure that there is robust and transparent analysis supporting both the development of the alternative configurations and their evaluation against the CACM criteria. The assessment of the configuration impact on market efficiency, competition, liquidity and overall welfare must consider both short-term and forward markets, and use
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Categories: Consultation Responses.

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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Categories: Press Releases.

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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Categories: Press Releases.