EU Legislation on Energy Trading

Europex has developed this resource to offer a broad overview of EU legislation governing wholesale energy trading. It covers both physical and financial energy markets, which are regulated under EU law.

Only legislation currently in force is included. Where relevant, links to non-binding guidance or supporting documents are also provided.

Relevant and applicable laws for our members.

Europex assumes no responsibility for external content.

  • Energy Efficiency Directive

Energy Efficiency Directive (EED II)

Directive (EU) 2018/2002, amending Directive 2012/27/EU on energy efficiency (Text with EEA relevance). On 14 July 2021, the European Commission proposed the revision of the EED II under the “Fit ...

  • MiFID and MiFIR

MiFID II and MiFIR

The Markets in Financial Instruments Directive (MiFID) and the Markets in Financial Instruments Regulation (MiFIR) form the core of the EU’s legal framework for financial markets. Together, they aim to ...

  • REMIT

Wholesale Energy Market Integrity and Transparency (REMIT)

The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) establishes the EU framework to prevent market abuse and ensure transparency in wholesale electricity and gas markets. It prohibits insider ...

  • Third Energy Package

Natural Gas Directive

Directive 2009/73/EC concerning common rules for the internal market in natural gas addresses, among other topics, unbundling of energy supply and generation from transmission. It also promotes non-discriminatory network access ...

  • Electricity Market Design Review

Electricity Directive

Directive (EU) 2019/944 sets out common rules for the internal electricity market, focusing on consumers, retail markets, DSOs, and governance. It is part of the Clean Energy Package and replaces ...

  • Electricity Network Codes & Guidelines

Capacity Allocation and Congestion Management Guideline (CACM GL)

The CACM GL establishes rules for day-ahead and intraday market coupling across the EU. It is central to the operation of single electricity markets and determines how transmission capacity is ...

  • Electricity Network Codes & Guidelines

Electricity Balancing Guideline (EB GL)

The EB GL harmonises rules for electricity balancing across the EU. It introduces a common framework for balancing energy markets, procurement, and settlement, supporting real-time system stability. Latest consolidated version: ...

  • Electricity Network Codes & Guidelines

Forward Capacity Allocation Guideline (FCA GL)

The FCA GL governs the allocation of long-term transmission rights (LTTRs) between bidding zones, enabling market participants to hedge against price differences across borders. Latest consolidated version: 15/03/2021   It ...

  • Electricity Network Codes & Guidelines

Emergency and Restoration Network Code (ER NC)

Commission Regulation (EU) 2017/2196 establishing a network code on electricity emergency and restoration, sets out rules for the management of the transmission system in case of emergency or blackout, as ...

  • Electricity Network Codes & Guidelines

System Operation Guideline (SO GL)

Commission Regulation (EU) 2017/1485 establishing a guideline on electricity transmission system operation sets harmonised rules for TSOs, DSOs and SGUs (significant grid users), in order to provide a legal framework ...

Security of Supply Directive

Directive 2005/89/EC concerning measures to safeguard security of electricity supply and infrastructure investment was repealed by Regulation (EU) 2019/941 of the European Parliament and of the Council of 5 June ...

  • Third Energy Package

Natural Gas Regulation

Regulation (EC) No 715/2009/EC on Conditions for Access to the Natural Gas Transmission Networks, lays down rules for access to natural gas transmission networks, gas storage and LNG facilities. The ...

  • Third Energy Package

Implementation note on unbundling in the Electricity Directive and the Natural Gas Directive

Non-binding guidance from the Commission on the unbundling rules and models for TSOs and DSOs, including ownership unbundling, independent system operator (ISO) and independent transmission operator (ITO).

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  • Third Energy Package

Interpretative note on third-party access to storage facilities in the Natural Gas Directive

Non-binding guidance from the Commission outlining the requirements and procedures in the legislation, and the roles and duties of Member States, national regulatory authorities (NRAs) and storage system operators (SSOs).

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  • Third Energy Package

Interpretative note on regulatory authorities in the Electricity Directive and the Natural Gas Directive

Non-binding guidance from the Commission for the purposes of implementing the rules relating to NRAs, including independence, duties and powers, complaints and legal actions.

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