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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Categories: Press Releases.

Europex feedback at intermediate stage of Commission study on sector coupling

Brussels, 20 March 2019 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to provide feedback at this intermediate stage of the Commission study on “Potentials of sector coupling for decarbonisation – Assessing regulatory barriers in linking the gas and electricity sectors in the EU”. A cross-sectoral approach, including electricity and gas both conventional and renewable, is necessary in order to develop more system flexibility, to free up unused cross-sectoral potential and to increase the coordination and competitiveness between the gas and electricity sectors. Developing and enhancing this potential is a pre-condition for successfully implementing the energy transition
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Categories: Consultation Responses.

Europex response to the BMF consultation on MiFID II experiences

Brussels, 15 March 2019 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to contribute to the present consultation on MiFID II / MiFIR experiences1. In the following, we would like to share our concerns on three main aspects: 1) pre-trade transparency requirements for commodity derivatives, 2) position limits for commodity derivatives and 3) the scope of the hedging exemption in relation to the previous two points. 1) Pre-trade transparency requirements for commodity derivatives (MiFIR, Arts. 8 & 9) Europex members have long argued that the MiFIR pre-trade transparency regime in its present form is not fit for purpose
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Categories: Consultation Responses.

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.