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DG Energy consultation on measures to ensure transparency and integrity of wholesale markets in electricity and gas

Date

14 Jun 2010

Sections

Energy

The European Federation of Energy Traders (EFET)1 welcomes the initiative of DG
Energy in launching this consultation. EFET will support EU level measures which help
to improve transparency and guarantee integrity at reasonable cost.

EFET has already worked closely with DG TREN, as the predecessor of DG Energy,
and with ERGEG over several years, to improve transparency of data about the
availability and use of infrastructure used in the European power and gas sectors
(“fundamental data”).

EFET believes that binding rules dealing with fundamental data publication must form
part of an overall package of measures addressing transparency and market integrity.
More recently we have cooperated with CESR5 and ERGEG to explore measures, which might improve market oversight. The goal here is greater post-trade transparency regarding wholesale dealings in energy, whether physical or financial, brokered or exchange-based. An EU wide regime is crucial, to ensure common application of transparency and market integrity rules, and to support the further development of integrated, robust and efficient wholesale markets.

The design of the institutional framework and the definition of responsibilities for
regulators and any EU agencies must preclude duplication or overlap. The work of DG
Internal Market on wider financial market reform, particularly its proposals affecting
(commodity) derivative markets, will need to be taken into account.

EFET will now consider carefully the questions set out in the DG Energy consultation
document and provide full answers.

For further information, please contact:

Ilaria Conti

EFET Communication and Policy Officer,

Ilaria.Conti@efet.org Tel: +32 485 613 773

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