On 20 September, Europex and several other trade associations have sent a briefing to negotiators of the REMIT Review legislation with respect to requirement under
We urge the co-legislators to take the necessary time to fully understand the complexity of this file and seek the viewpoints of stakeholder who have worked closely with ACER to tailor REMIT into the tool it is today.
We urge lawmakers to carefully assess these proposals to ensure that the EMD package is beneficial to the functioning of short-term markets, the liquidity of long-term markets and the deployment of flexibility assets.
we call on Member States to end inframarginal revenue caps by 30 June as set out in the 6 October Regulation. We also call on the EU co- legislators to ensure revenue caps remain outside of the scope of the current reform of the Electricity Market Design.
We do not believe that the amendments adopted by ECON in relation to commodities and commodity derivatives will address volatility nor will they reduce energy prices, but instead further impede the development of commodity markets in the EU.
Europex is concerned about the practical implications of the Market Correction Mechanism as set out in Article 23 of the draft Council Regulation and would like to highlight that any such mechanism must meet the conditions outlined in Article 23 (2) (b)-(j).
Europex’s strong conviction is that risk transfer mechanisms are most needed during periods of heightened uncertainty and volatility, as it is at such times that risks in the underlying commodity and financial markets are most acute.
We would like to take this opportunity to offer additional guidance to ensure that these emergency measures are not adopted without due consideration of their short- and mid-term effects.
Please find our detailed position paper attached:
Imposing restrictions on who may or may not participate in the EU ETS would significantly weaken the market, putting at risk the EU’s ability to meet its climate goals in a cost-efficient manner.
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