At the regular meeting of the General Assembly, members discussed high energy prices and the regulatory impact of the Russian invasion of Ukraine on European energy markets.
As the European Council meeting of 30 and 31 May approaches, we urge Member States to consider the added value of the IEM in managing the immediate effects of this crisis and in shaping the energy sector of the future.
As regards the new REPowerEU Plan published yesterday, we have serious concerns about several of the proposed short-term emergency measures as they risk threatening the integrity and functioning of the Internal Energy Market.
In the short-term, measures to protect vulnerable consumers are essential. But the only real sustainable solution to the current crisis is to shift away from fossil fuels, invest massively in clean energy alternatives, accelerate energy savings and unlock demand response.
Europex welcomes the European Commission’s call for enhanced coordination on natural gas storage. We fully share the Commission’s assessment that any measures taken must not inordinately distort the efficient functioning of the EU’s internal gas market.
Europe is currently facing a severe shock to its energy markets, the reasons for which are diverse, ranging from global demand and supply fundamentals in the early stages and now strongly influenced by the Russian invasion of Ukraine.
In response to the Russian government’s actions against Ukraine, the General Assembly of Europex has decided to exclude the Saint Petersburg International Mercantile Exchange (SPIMEX) from Europex, effectively terminating their associate membership as of today.
We would like to express our concern that the European Commission may be considering intervention in the ETS, either through position limits or some other action, ahead of the publication of ESMA’s final report on the EU Carbon Market.
The new measures help to ensure that the gas regulatory framework is fit for purpose for the uptake of renewable and low-carbon gases, whilst retaining the core benefits of the Internal Energy Market.
ETPA, Energy Trading Platform Amsterdam, has joined Europex as a Full Member as of today. With the inclusion of ETPA, Europex now counts 30 members across Europe.
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