ACER welcomes the European Commission’s call for the full implementation of the Third Energy Package

ACER Director Alberto Pototschnig said “we are very glad that the Commission strongly supports the full implementation of the Third Energy Package and the implementation and strict application of its provisions, recognising also the key role played by the regional initiatives coordinated by the Agency in delivering the internal energy market and tangible benefits to European energy consumers as soon as possible”.

 

 

As the EC report indicates market oversight to ensure market integrity and to avoid market abuses has been tightened thanks to the application of the provisions laid down in the 2011 Regulation on Wholesale Energy Markets Integrity and Transparency (REMIT). The report also highlights that a central information transparency platform for the publication of data in electricity markets will also be established by ENTSO-E by early 2015.

 

ACER welcomes the emphasis of the Commission’s report on providing ACER and the National Energy Regulators (NRAs) with the necessary resources to carry out these significant new tasks effectively, in close cooperation with financial market supervisors and competition authorities, particularly as we are soon entering into the operational phase of REMIT with the adoption of the Implementing Acts. “It is of the utmost importance that regulators and ACER keep a close eye on the trading activities, because consumers and policy makers need to trust that prices are not manipulated to the advantage of some but detriment of consumers”, the report says.

 

 

As stated in its strategic Conclusions Paper “Bridge to 2025” ACER supports the Commission’s view that  the immediate priority should be on the full implementation of the core set of market rules to support the well-functioning of the internal energy market. As the Commission report states, this requires first and foremost the full cooperation of all the actors, within the Member States - by national  administrations and regulators - but also at European level - by the Commission, but also by ACER and the ENTSOs. “There are important challenges lying ahead for the energy sector, which require an appropriate regulatory response, as outlined in the “Bridge to 2025” Conclusions Paper. The full implementation of the IEM provisions represents one of the main pillars on which this Bridge will be built”, added Lord Mogg, Chairman of the ACER Board of Regulators.

 

You can also access ACER Press Release here.