Europex response to the consultation on the draft Delegated Regulation adjusting the EU ETS auction process for 2021-30

Brussels, 6 August 2019 | Europex welcomes the opportunity to comment on the proposal for a Commission Delegated Regulation to align the auctioning of allowances with the EU ETS rules for the Fourth Trading Period and with the classification of allowances as financial instruments as published on 9 July 2019. In this context, we have taken particular positive note of the following suggested changes: ▪ The simplified procedure for the determination and publication of auction calendars; ▪ The clarification of rules on the distribution of auction volumes in case of multiple auction cancellations; ▪ The clarification of the notification procedure for
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Categories: Consultation Responses.

Consultation response: methodology for a co-optimised allocation process of cross zonal capacity for the exchange of balancing capacity or sharing of reserves

Brussels, 30 July 2019 | Europex is pleased to contribute to the consultation on the ‘All TSOs’ proposal for a methodology for a co-optimised allocation process of cross zonal capacity for the exchange of balancing capacity or sharing of reserves in accordance with Article 40 EB GL.’ The primary parts of the response are included below. Please add here your feedback related to Articles 1 and 2 ‘Subject matter and scope’ and ‘Definitions and interpretation’ Europex fully supports the use of market-based mechanisms to ensure the most efficient allocation of cross-zonal capacity, in particular in the day-ahead, intraday and balancing
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Categories: Consultation Responses.

MiFIR Pre-Trade Transparency: Call for a Methodology for the Conversion of LIS Notional Values to Lots

Brussels, 15 July 2019 | Europex and its members are committed to working with ESMA and the NCAs to ensure that markets continue to become more transparent in line with the policy objectives of MiFID II/MiFIR. In this context, we take note of the recently published “ESMA Supervisory Briefing on compliance with MiFIR pre-trade transparency requirements in commodity derivatives” and welcome ESMA’s commitment to review the currently inappropriately calibrated pre-trade transparency regime. As stated at earlier occasions, the enforcement of full compliance should be postponed until after the review of RTS 2 as otherwise irreparable damages would be caused to
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Categories: Position Papers.

Joint consultation response on the future of emissions trading in the UK

12 July 2019 | EFET, the Federation of European Energy Traders, and Europex, the Association of European Energy Exchanges welcome the opportunity to take part in the present consultation on the future of emissions trading in the UK, launched by the Department for Business, Energy and Industrial Strategy (BEIS). Importantly, we would like to highlight that the basic principles of continuity and predictability of carbon pricing are key for preserving well-functioning electricity, gas and emissions markets in the United Kingdom. The prevailing uncertainty about the continued participation of the UK in the EU ETS post-Brexit, and about the way in
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Categories: Consultation Responses.

Europex response to the EC Targeted Consultation for the Evaluation of the Guidelines on State Aid for Environmental Protection and Energy 2014-2020 (EEAG)

Brussels, 10 July 2019 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to respond to the European Commission’s consultation in the context of the Evaluation of the Guidelines on State Aid for Environmental Protection and Energy 2014-2020. Europex supports theEuropean Commission’s goal to bring the guidelines in line with new electricity market developments and to ensure the market integration of renewables, a stable regulatory framework for investments in renewables and a cost-efficient achievement of the set renewable targets. It is worth recalling that power exchanges are increasingly central to the cost-efficient integration of renewable energy sources in
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Categories: Consultation Responses.

Europex response to the ESMA call for evidence on position limits in commodity derivatives

Brussels, 5 July 2019 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to contribute to the ESMA call for evidence on position limits and position management in commodity derivatives. Europex has actively participated in previous public consultations on the MiFID II/MiFIR package, including on the position limit regime as well as on its implementing legislation and the related regulatory guidance. The present call for evidence offers an important opportunity to review the regime 18 months after its entry into application. Importantly, Europex supports the policy objectives of MiFID II/MiFIR to ensure transparency and prevent abuse in commodities
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Categories: Consultation Responses.

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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Categories: Press Releases.

Europex response to the CEER Public Consultation on Regulatory Challenges for a Sustainable Gas Sector

Brussels, 17 May 2019 | Europex is pleased to contribute to the present consultation on a sustainable gas sector and welcomes the associated stakeholder dialogue. We are convinced that gas will continue to play an important role in the future energy mix as a flexible source of energy, able to compensate for the growing share of intermittent renewable sources and to act as a large-scale energy carrier. In view of the EU’s 2030 and 2050 climate and energy goals, it is clear that the gas sector will have toundergo a transformation process and that renewable and decarbonised gases will play
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Categories: Consultation Responses.

Europex response to the Commission consultation on the revision of the EU ETS state aid guidelines

Brussels, 16 May 2019 | The EU ETS plays a vital role as the EU’s primary instrument for reducing greenhouse gas emissions cost-effectively while incentivising innovation and change. Importantly, well-functioning emissions markets, as part of a clear and stable climate policy framework, provide long-term predictability for companies. Keeping to such a clear framework will not only minimise the risk of carbon leakage but create additional investments and opportunities in Europe. Hence, while they may be considered necessary to tackle the risk of carbon leakage as a consequence of the transnational EU ETS, national measures to compensate sectors at particular risk
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Categories: Consultation Responses.