BETA

Activities of Jorgo CHATZIMARKAKIS related to 2010/0363(COD)

Plenary speeches (2)

2016/11/22
Dossiers: 2010/0363(COD)

2016/11/22
Dossiers: 2010/0363(COD)

Reports (1)

2016/11/22
Committee: ITRE
Dossiers: 2010/0363(COD)
Documents: PDF(522 KB) DOC(639 KB)

Amendments (18)

Jorgo CHATZIMARKAKIS

Proposal for a regulation
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. It is of particular importance that the Commission carry out appropriate consultations during its preparatory work, including at expert level. 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.

2011/04/27
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 2 – point 1 – subparagraph 1

1. ‘inside information’ means ~~precise~~ information of a precise nature which has not been made public, relating directly or indirectly to one or more wholesale energy products and which~~, if it were made public, could significantly affect the prices of such wholesale energy products;~~ a reasonable professional market participant would expect to receive in accordance with statutory requirements and/or accepted market practices.

2011/04/27
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 2 – point 1 – subparagraph 2

For the purposes of applying the first subparagraph, inside information ~~a reasonable~~means information: (a) which is required to be made public in accordance with the provisions of Regulation (EC) No 714/2009, Regulation (EC) No 715/2009 or this Regulation, including guidelines, network codes or delegated acts adopted pursuant to those Regulations, or in accordance with other legislative or regulatory provisions at European Union level, in particular Directive 2009/72/EC and Directive 2009/73/EC; or (b) where no disclosure requirements exist under sub-paragraph a), which has not been made public and which, if it were made public, could significantly affect the prices of such wholesale energy products. Such inside information only constitutes the following: Information a reasonable professional market participant would be likely to use as part of the basis of his decision to enter into a transaction relating to a wholesale energy product is information which, if it were made public, would be likely to have a significant effect on the prices of such wholesale energy products~~. Such i~~; or Information ~~includes~~which is price-sensitive and precise information related to the capacity of facilities for production, storage, consumption or transmission of electricity or natural gas or LNG-facility, as well as information which is routinely made available to the relevant wholesale energy market, or required to be disclosed in accordance with national legal or regulatory provisions ~~at Union or national level, market rules, and contracts or customs on the relevant~~, market rules, contracts or accepted market practices on the relevant wholesale energy market. For the purposes of applying the first subparagraph, information shall be deemed to be of a precise nature if it indicates a set of circumstances which exists or may reasonably be expected to come into existence or an event which has occurred or may reasonably be expected to do so and if it is specific enough to enable a conclusion to be drawn as to the possible effect of that set of circumstances or event on the prices of wholesale energy ~~market.~~ products.

2011/04/27
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 2 – point 1 – subparagraph 3

By way of example, information which is required to be made public in accordance with the provisions of Regulation (EC) No. 714/2009 or Regulation (EC) No. 715/2009, including guidelines and network codes adopted pursuant to those Regulations, can constitute inside information.deleted

2011/04/27
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 2 – point 4 – subparagraph 2 a (new)

However, for the purpose of this Regulation, contracts for the supply of natural gas and electricity to final consumers with a capacity of more than xx GWh of megawatt (de-minimis threshold) shall be treated as wholesale energy products;

2011/04/27
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 2

A market participant may under his own responsibility delay the public disclosure of inside information such as not to prejudice his legitimate interests provided that such omission would not be likely to mislead the public and provided that the market participant is able to ensure the confidentiality of that information and does not make decisions relating to trading in wholesale energy products based upon this information. In this situation the market participant shall provide this information to the Agency and the relevant national regulatory authority having regard to the provisions of Article 7(4). In order to comply with these provisions, the market participant shall establish ring-fencing mechanisms to be approved by the competent authority.

2011/04/27
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 5 – paragraph 1

1. In order to take account of future developments on wholesale energy markets, the Commission shall be empowered to adopt delegated acts in accordance with Article 15 ~~and subject to conditions of Articles 16 an 17, specifying the definitions set out at Article 2(1) to (5)~~concerning the definitions set out at Article 2(1) to (5). Those delegated acts shall be developed in close cooperation with the Agency.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 5 a (new)

Article 5a Authorisation of market participants 1. In the absence of an authorisation as an investment firm under Directive 2004/39/EC, each Member State shall subject market participants to prior authorisation for the performance of services relating to trade in energy wholesale products. 2. Member States shall establish a register of all market participants authorised in accordance with this Regulation. This register shall be publicly accessible. It shall be updated on a regular basis. 3. The authorisation shall be valid throughout the Union and shall allow each market participant to provide the services or perform the activities, for which it has been authorised, throughout the Union, in exercise of the freedom of establishment or the freedom to provide services. A host Member State may not require any local establishment or the presence of local personnel. 4. The competent authority shall not grant authorisation to a market participant unless and until such time as it is fully satisfied that the market participant complies with all requirements of the delegated acts adopted pursuant to paragraph 9 of this Article. Member States shall ensure: (a) that a legal entity exists; (b) that board members have no criminal record; (c) that the applicant has the technical, financial and organisational capacity to fulfil its regulatory duties; Member States shall ensure that the competent authorities monitor the activities of market participants so as to assess compliance with the operating conditions provided for in this Regulation. 5. The competent authority may withdraw the authorisation issued to a market participant that: (a) has obtained the authorisation by making false statements or by any other irregular means; (b) no longer meets the conditions under which authorisation was granted; (c) has seriously and systematically infringed the operating conditions for market participants provided for in this Regulation. 6. Member States shall ensure that any market participant authorised and supervised by the competent authorities of another Member State in accordance with this Regulation may freely trade energy on the wholesale market within their territories. Member States shall not impose any additional requirements on such a market participant in respect of the matters covered by this Regulation. In particular, they may not: (a) impose additional national licensing requirements; (b) levy national regulation fees (one-time or recurring) from wholesale energy market participants companies; (c) impose national reporting obligations to report transactions/statement of accounts or maintain records except as provided for in this Regulation; (d) require different national activity reports in host Member States; (e) approve grid tariffs which discourage imports and exports; (f) require national exams for wholesale trading; (g) impose supply-related requirements on pure wholesale traders (e.g. requirement to set up customer call centres or metering stations, institute mediation services for end customers, publish general terms and conditions for the supply to end- customers). 7. The fees for the authorisation may be levied only by the regulator in the host Member State based on the cost of the licensing process. 8. This Article shall not apply to market participants that trade less than certain amount of energy (GWh for electricity and cm2 for gas) per year. 9. The Commission shall adopt delegated acts in accordance with Article 15, in order to determine: (a) the requirements and scope for authorisation; (b) the procedures for granting and refusing requests for authorisation; (c) the conditions for withdrawal; and (d) the threshold for market participants referred to in paragraph 8 (de-minimis rule).

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2 a (new)

The delegated acts referred to in paragraph 1 shall lay down rules for voluntary reporting on transactions in related products.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

2. Trade repositories registered or recognised under Regulation (EC)---/---- [European Market Infrastructure Regulation – 2010/0250(COD)] shall make all information regarding wholesale energy products and derivatives of emissions allowances collected by them available to the Agency.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 8 – paragraph 2 a (new)

2a. Authorities competent for the oversight of trading in emissions allowances and derivatives thereof shall transmit records of transactions in those instruments to the Agency.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 15 – paragraph 1

1. The powers to adopt ~~the~~ delegated acts ~~referred to in Articles 5 and 7 shall be conferred on the Commission for an indeterminate period of tim~~is conferred on the Commission subject to the conditions laid down in this Article.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 15 – paragraph 2

2. ~~As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council~~The delegation of powers referred to in Articles 5, 5a and 7 shall be conferred on the Commission for an indeterminate period of time.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 15 – paragraph 3

3. The ~~powers to adopt delegated acts are conferred on the Commission subject to the conditions laid down in Articles 16 and 17~~delegation of powers referred to in Articles 5, 5a and 7 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified therein. It shall take effect on the day following the publication of the decision in the Official Journal of the European Union or at a later date specified therein. It shall not affect the validity of any delegated acts already in force.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 15 – paragraph 3 a (new)

3a. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 15 – paragraph 3 b (new)

3b. A delegated act adopted pursuant to Articles 5, 5a and 7 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of 2 months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 2 months at the initiative of the European Parliament or the Council.

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 16

1. The delegation of powers referred to in Articles 5 and 7 may be revoked at any time by the European Parliament or by the Council. 2. The institution which has commenced an internal procedure for deciding whether to revoke the delegation of powers shall inform the other institution and the Commission within a reasonable time before the final decision is taken, indicating the delegated powers which could be subject to revocation and possible reasons for a revocation. 3. The decision of revocation shall put an end to the delegation of the powers specified in that decision. It shall take effect immediately or at a later date specified therein. It shall not affect the validity of the delegated acts already in force. It shall be published in the Official Journal of the European Union.Article 16 deleted Revocation of the delegation

2011/05/05
Committee: ITRE

Jorgo CHATZIMARKAKIS

Proposal for a regulation
Article 17

1. The European Parliament and the Council may object to the delegated act within a period of two months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by one month. 2. If, on expiry of that period, neither the European Parliament nor the Council has objected to theArticle 17 delegated act it shall be published in the Official Journal of the European Union and shall enter into force at the date stated therein. The delegated act may be published in the Official Journal of the European Union and enter into force before the expiry of that period if the European Parliament and the Council have both informed the Commission of their intention not to raise objections. 3. If the European Parliament or the Council objects to a delegated act, it shall not enter into force. The institution which objects shall state the reasons for objecting to the delegated act.Objections to delegated acts

2011/05/05
Committee: ITRE