Joint Statement by the market Participants of the European Market Stakeholder Committee on the increase of gas and electricity prices in Europe

The European Stakeholder Committees (ESCs) have been established to inform and consult stakeholders on the implementation of the European network codes and guidelines. There are three different ESCs, each covering a family of network codes. The MESC is chaired by ACER, co-organised by ENTSO-E and the EC is an observer. The MESC participants are the key stakeholders involved in the implementation of European market network codes and guidelines.

In light of the significant increase in gas and electricity prices in Europe, MESC participants would like to stress:

  • That an interconnected and integrated EU market ensures the use of the most efficient resources and interconnector capacities in the EU and contributes to operational security;
  • That the continued integration of markets – including through market coupling – allows us to better absorb price shocks at a European scale in order to provide stable and cost conscious supply of energy to the industry and individual consumers; and
  • That competition in the market – including forward – allows the most efficient allocation of scarce resources through the interaction of competitive forces without interventions that offset and distort the economic efficiency of market mechanisms and damage the confidence of investors.

The MESC participants call on:

  • Member States to ensure that measures undertaken in reaction to the price evolution do not endanger the EU Internal Energy Market and the energy transition objectives of the Green Deal; and
  • The European Commission to rapidly provide a toolbox that will help Member States manage the current situation without endangering the EU energy market, contribute to supporting the economic and social recovery in the European Union and counter energy poverty.

Attachments

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