A market-based approach to local flexibility – design principles

  Brussels, 12 February 2020 | Increasing the share of renewable energy generation in the energy mix is vital for decarbonisation, yet intermittent renewables such as wind and solar power can put pressure on the capacity of local and regional grids, requiring costly grid management measures from the network operators, both TSOs and DSOs. At the same time, decentralised resources are being deployed at an increasing rate, including, among others, storage assets and electric vehicles interacting with the grid. Active customers will increasingly be able to offer demand-side flexibility, either directly or through aggregation services. Ways must be found of
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Categories: Position Papers.

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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Categories: Press Releases.

Europex response to ESMA consultation paper on MiFID II review report on position limits and position management

Brussels, 6 January 2020 | Europex, the Association of European Energy Exchanges, welcomes the opportunity to contribute to the ESMA consultation paper on the MiFID II review report on position limits and position management in commodity derivatives. Europex has actively participated in previous MiFID related consultations, such as the call for evidence on position limits that took place last summer. While the review fulfils a legal obligation under MiFID II, this exercise is also a vital opportunity to assess the impact of position limits and position management on commodity derivatives markets and to ensure the regime is working in practice
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Categories: Consultation Responses.

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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Categories: Press Releases.

Europex response to the ESMA consultation on the review of the Market Abuse Regulation (MAR)

Brussels, 29 November 2019 | Europex, the Association of European Energy Exchanges, welcomes the initiation of the MAR review and would like to use this opportunity to underline the importance of the MAR policy objectives. A robust and coherent regulatory framework to combat market abuse is necessary to help safeguard the integrity of financial markets and provide clarity to market participants as well as market infrastructure providers. A number of principles underpin our response to this review, including the need to ensure coherence between MAR and other pieces of legislation such as the Benchmarks Regulation (BMR) and the Regulation on
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Categories: Consultation Responses.

Tax challenges of the digitalisation of the economy: Joint EFET-Europex response to OECD public consultation on the “Secretariat Proposal for a “Unified Approach” under Pillar One”

Amsterdam/Brussels, 12 November 2019 | The European Federation of Energy Traders (EFET) and the Association of European Energy Exchanges (Europex) support the general objective of the OECD in securing a global consensus over a fair taxation of the digital economy and welcome the opportunity to comment on the scope of the initiative. In this context, we are concerned that a too broadly defined scope of the unified taxation approach of the OECD proposal will lead to a situation where certain digital financial services will unintentionally fall under the new tax. Concretely, the current wording of the scope (page 7, section
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Categories: Consultation Responses.

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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Categories: Press Releases.