Activities of Hannes SWOBODA related to 2010/0363(COD)
Plenary speeches (1)
Energy market integrity and transparency (debate)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council on energy market integrity and transparency PDF (522 KB) DOC (639 KB)
Amendments (14)
Amendment 55 #
Proposal for a regulation
Recital 1
Recital 1
(1) It is important to ensure that consumers can have confidence in the integrity of electricity and gas markets and that prices set on wholesale energy markets reflect a fair interplay between supply and demand and no undue profits can be drawn from market abuse.
Amendment 78 #
Proposal for a regulation
Recital 7
Recital 7
(7) Derivative trading and commodity trading are used together on wholesale energy markets. It is therefore important that the definitions of market abuse, which consists of insider trading and market manipulation, are compatible between derivatives and commodity markets. Therefore this Regulation should in principle apply to all transactions concluded.
Amendment 89 #
Proposal for a regulation
Recital 11
Recital 11
(11) Specification of the definitions of inside information and market manipulation is necessary to account for the specificities of wholesale energy markets, which are dynamic and subject to change. TOn the basis of clear definitions set out in this Regulation, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty in respect to such detailed rulethe detailed rules. Whenever the Commission is willing to adopt delegated acts, it is of particular importance, that the Commission carry out appropriate consultations during its preparatory work, including the Agency, energy market operators, national regulatory authorities and the European Securities and Markets Authority (ESMA). The Commission, when preparing and drawing up delegated acts, should ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and Council and ensure that the European Parliament and the Council are closely involved in the preparatory phase, notably by being invited to take part at the expert meetings.
Amendment 93 #
Proposal for a regulation
Recital 11 a (new)
Recital 11 a (new)
(11a) Energy trading firms covered by this Regulation which do not fall within the scope of Directive 2004/39/EC should be subject to EU-wide authorisation requirements. This Regulation should provide for a tailor-made authorisation scheme for energy traders, for scrutinising market participants' capacity to respect this Regulation while avoiding the application of the burdensome requirements for financial traders included in Directive 2004/39/EC. In order to provide for a tailor-made authorisation scheme for energy traders, the power to adopt acts in accordance with Article 290 of the Treaty on the Functioning of the European Union should be delegated to the Commission in respect of the requirements and scope for authorisation, the procedures for granting and refusing authorisation as well as the conditions for withdrawal.
Amendment 98 #
Proposal for a regulation
Recital 14
Recital 14
(14) Efficient market monitoring requires regular access to records of transactions. For this reason market participants who trade wholesale energy products should be required to provide this information to the Agency. If necessary for an efficient monitoring, the Agency may establish liaison points close to significant trading venues.
Amendment 119 #
Proposal for a regulation
Recital 19
Recital 19
(19) National regulatory authorities should be responsible for ensuring that this Regulation is enforced in the Member States. To this end they should have the necessary investigatory powers to allow them to carry out this task efficientlyhe Commission should together with the Agency care for a coordinated and consistent way of applying the monitoring and investigating powers.
Amendment 142 #
Proposal for a regulation
Article 1 – paragraph 2 a (new)
Article 1 – paragraph 2 a (new)
This regulation shall apply to all participants in the markets concerned irrespective of whether they are from the Union or from third countries. It shall apply to all sales, purchases, production, supply, transportation and delivery of wholesale energy products.
Amendment 203 #
Proposal for a regulation
Article 2 – point 8 a (new)
Article 2 – point 8 a (new)
8a. ‘Agency’ means the Agency for the Cooperation of Energy Regulators established by Regulation (EC) No 713/2009.
Amendment 211 #
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 1
Article 3 – paragraph 4 – subparagraph 1
4. Market participants shall publicly and effectively in a timely manner disclose inside information in respect of business or facilities which the participant concerned owns or controls or for which the participant is responsible for operational matters, either in whole or in part. Such information shall include information relevant to the capacity of facilities for production, storage, consumption or transmission of electricity or natural gas.
Amendment 264 #
Proposal for a regulation
Article 7 – paragraph 1 – subparagraph 1 a (new)
Article 7 – paragraph 1 – subparagraph 1 a (new)
A ‘de minimis’ threshold shall be established to exempt from the reporting requirements operators which, by virtue of their size, are unlikely to influence the energy markets.
Amendment 315 #
Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 2 a (new)
Article 11 – paragraph 2 – subparagraph 2 a (new)
The Agency shall be provided with the financial and human resources necessary for it to adequately fulfil the additional tasks assigned to it under this Regulation. If necessary, it may establish liaison points close to significant trading venues.
Amendment 326 #
Proposal for a regulation
Article 13
Article 13
The Member States shall lay down the rules on penalties applicable to infringements of the provisions of this Regulation and shall take all measures necessary to ensure that they are implemented. The penalties provided for must be effective, proportionate and dissuasive. They shall reflect the gravity of the infringements and shall considerably exceed the real or potential gains from illegal operations. In close cooperation with the Agency and the Commission, the Member States should agree on minimum standards for penalties and coordinate their sanction system. The Member States shall notify those provisions to the Commission by ... at the latest and shall notify it without delay of any subsequent amendment affecting them.
Amendment 337 #
Proposal for a regulation
Article 15 – paragraph 1 a (new)
Article 15 – paragraph 1 a (new)
1a. Whenever the Commission is willing to adopt delegated acts, it is of particular importance, that the Commission carry out appropriate consultations during its preparatory work, including the Agency, energy market operators, national regulatory authorities and ESMA. The Commission, when preparing and drawing up delegated acts, shall ensure a simultaneous, timely and appropriate transmission of relevant documents to the European Parliament and Council and ensure that the European Parliament and the Council are closely involved in the preparatory phase, notably by being invited to take part at the expert meetings.
Amendment 351 #
Proposal for a regulation
Article 17 a (new)
Article 17 a (new)
Article 17a Agency staffing and resources By 31 December 2011 at the latest, the Agency shall assess the staffing and resources needs arising from the assumption of its powers and duties in accordance with this Regulation and submit a report to the European Parliament, the Council and the Commission.