XBID – 2nd Wave Go-Live and Changes in Gate Opening Time from 1st January 2019

For issue at 10:00h CET on Wednesday 5th December 2018 – to coincide with MESC meeting RE: XBID – 2nd Wave Go-Live and Changes in Gate Opening Time from 1st January 2019 Over 6.3 million trades completed in XBID. Expansion of XBID into further countries expected summer 2019. Harmonisation of Gate Opening Times from 1st January 2019 will be communicated locally by Transmission System Operators. The XBID parties are pleased to confirm that XBID continues to operate with stability and that over 6.3 million trades have been successfully completed since Go-live in June. The XBID solution has been operational for
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Categories: All NEMOs.

Article 13 (9) of the Electricity Regulation: The basic implementation phase for reconfigured bidding zones should be 24 instead of 12 months

Brussels, 8 November 2018 | Ensuring bidding zones are configured efficiently is necessary in order to address long-term structural congestion. However, any change to the configuration of bidding zones has a fundamental impact on the functioning of wholesale electricity markets. While the change itself, once implemented, may bring about overall benefits the transition process itself comes at a cost which is ultimately passed on to the electricity consumers. In order to minimise this cost and to leave the market enough time to adapt, the implementation phase needs to be appropriate and must guarantee a smooth transition. Recent experience has shown
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Categories: Position Papers.

Capacity allocation in Article 14 of the Electricity Regulation recast: Setting the right principles to maximise transmission capacity available for trading in order to foster further market integration

Brussels, 8 November 2018 | In the EU’s internal energy market, the amount of trade between bidding zones is constrained by the amount of available cross-zonal transmission capacity. Maximising the amount of the cross-zonal capacity available to the market, while respecting necessary operational security standards, is therefore a prerequisite for achieving an efficient integrated internal energy market and realising the associated increase in welfare. In this context, the process to calculate and allocate capacity on the bidding zone borders is vitally important. However, there is significant scope to improve the current situation. The ACER 2017 Market Monitoring Report (MMR) compared
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Categories: Position Papers.

Europex General Assembly elects Jonas Törnquist as new Board Member and makes its farewell to Jean-François Conil-Lacoste

Brussels, 12 October 2018 | Related to the announced end of his mandate as Chairman and CEO of EPEX SPOT on 13 October 2018, Jean-François Conil-Lacoste will simultaneously resign from his current role as Europex Board member in which he has served since May 2016. On behalf of Europex and its members, Pieter Schuurs, Europex Chairman, thanked Jean-François Conil- Lacoste for his active involvement and dedication for the Association of European Energy Exchanges over the past sixteen years. In this context, he highlighted that “Jean-François was one of the six founding members of Europex back in 2002 when EU energy
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Categories: Press Releases.

Electricity market design – Europex positions on the Electricity Regulation, Electricity Directive and the ACER Regulation

Brussels, 11 October 2018 | The trilogue negotiations for the electricity market design files (the draft recasts of the Electricity Regulation, Electricity Directive and ACER Regulation) are well under way. At this stage it is crucial that all parties can agree on workable solutions grounded in market realities. Overall, this is an opportunity to ensure that wholesale markets are efficient, accessible and are ready to meet the challenges of the energy transition. This paper raises five aspects emerging from the negotiations so far which we believe are necessary to address or maintain. A comparison of the positions of the Commission,
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Categories: Position Papers.

Europex response to the Commission consultation on the strategy for long-term EU greenhouse gas emissions reductions

Brussels, 9 October 2018 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to participate in the present forward-looking consultation. In our response, we would like to underline the importance of stable and predictable energy and climate policies in the mid-century perspective. The development of a strategy for long-term EU greenhouse gas emissions reduction is an important step in this process and should provide guidance for short- and mid-term action. The fight against climate change, the energy transition and the need for cost-efficient decarbonisation brings unprecedented challenges which the entire energy sector and society at large have to
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Categories: Consultation Responses.

Tackling VAT fraud: Europex welcomes the extension of the domestic reverse charge mechanism for electricity, gas and emissions trading

Brussels, 2 October 2018 | Europex welcomes today’s ECOFIN Council decision to extend the derogation in Article 199a of the VAT Directive which allows Member States to apply the domestic reverse charge mechanism (DRCM) to transactions in electricity, gas and emission allowances until 30 June 2022. The domestic reverse charge mechanism is a vital tool to help prevent missing trader intra- community fraud in highly liquid energy and emissions markets in Europe. The extension, as set out in the Commission’s legislative proposal of 25 May 20181, ensures that Member States can continue to apply the domestic reverse charge mechanism in
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Categories: Press Releases.

European Cross-Border Intraday (XBID) Solution trades exceed 2.5 million since go-live

For issue at 15:00 CET on Thursday 6th September European Cross-Border Intraday (XBID) Solution trades exceed 2.5 million since go-live. Solution is stable and therefore availability of roll back systems has ceased. Nominated Electricity Market Operators (NEMOs) and Transmission System Operators (TSOs) are pleased to announce that the number of trades in XBID since go-live in mid- June has exceeded 2.5 million. The XBID solution has been running with stability and therefore, the Steering Committee has decided, in line with the contractual agreement between NEMOs and TSOs, to remove rollback systems. The XBID solution has been running now for over
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Categories: All NEMOs.

Common energy sector statement – Keeping EU energy and emissions markets protected from VAT fraud beyond 2018

Urgent need to confirm the extension of the derogation for a domestic reverse charge mechanism for electricity, gas and emission allowances in Art. 199a of the VAT Directive Brussels, 4 September 2018 | Missing Trader Intra-Community Value Added Tax fraud remains a persistent threat to the integrity and well-functioning of electricity, gas and emission allowance markets in Europe. Billions of euros had been defrauded from European Exchequers before the Council of the EU decided on the introduction of a derogation from the VAT Directive for electricity, gas and emission allowance transactions. The derogation enables Member States to apply the Domestic
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Categories: Position Papers.

The Essential Tasks of Third Party Market Operators/Facilitators in the Electricity Market (update)

Brussels, 16 August 2018 (updated)| In a number of EU Member States/EEA countries, certain functions related to the operation of the electricity market, which are necessary for the electricity market to work efficiently, are carried out by non-TSO third parties rather than by TSOs. These third parties, also called “Third Party Market Operators/Facilitators”or“Delegated Operators”, and the vital roles they play,are recognised in the European Network Codes and Guidelines. The tasks performed by these third parties include, among others, imbalance calculation and settlement, data publication related to electricity balancing markets and issuing of the rules related to balancing markets. These tasks
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Categories: Position Papers.