Activities of Patrizia TOIA related to 2023/0076(COD)
Plenary speeches (1)
Improving the Union’s protection against market manipulation on the wholesale energy market (debate)
Shadow reports (1)
REPORT on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1227/2011 and (EU) 2019/942 to improve the Union’s protection against market manipulation in the wholesale energy market
Amendments (18)
Amendment 154 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point a – paragraph 1
Article 1 – paragraph 1 – point 2 – point a – paragraph 1
Regulation (EU) No 1227/2011
Article 2, paragraph 1, point 1 – point (e) new
Article 2, paragraph 1, point 1 – point (e) new
(e) information conveyed by a client or by other persons acting on the client’s behalf and relating to the client’s pending orders in wholesale energy products, which is of a precise nature, relating directly or indirectly, to one or more wholesale energy products; and which, if it were made public, would be likely to significantly affect the prices of those wholesale energy products;
Amendment 161 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Regulation (EU) No 1227/2011
Article 2, paragraph 1, point 1 – subparagraph 5a (new)
Article 2, paragraph 1, point 1 – subparagraph 5a (new)
- For the purposes of paragraph 1, information that has a possible effect on the demand, supply and/or prices of a wholesale energy product, or on the expectations of the demand, supply and/or prices of a wholesale energy product, shall be considered as directly or indirectly related to the wholesale energy product;
Amendment 162 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point b
Article 1 – paragraph 1 – point 2 – point b
Regulation (EU) No 1227/2011
Article 2, paragraph 1, point 1 – subparagraph 5b (new)
Article 2, paragraph 1, point 1 – subparagraph 5b (new)
“reasonable market participant’ may encompass different profiles of market participants (e.g. beginner, average, informed, professional market participant) with different trading strategies (e.g. portfolio optimisation, arbitrage, speculative) covering short- term and/or long-term products.
Amendment 166 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point c a (new)
Article 1 – paragraph 1 – point 2 – point c a (new)
Regulation (EU) No 1227/2011
Article 2, paragraph 2, point (b)
Article 2, paragraph 2, point (b)
(c a) paragraph 2, point (b), is replaced by the following: "(b) disseminating information through the media, including the internet, or by any other means, which gives, or is likely to give, false or misleading signals as to the available transmission capacity, or the supply of, demand for, or price of wholesale energy products, including the dissemination of rumours and false or misleading news, where the disseminating person knew, or ought to have known, that the information was false or misleading. When information is disseminated for the purposes of journalism or artistic expression, such dissemination of information shall be assessed taking into account the rules governing the freedom of the press and freedom of expression in other media, unless: (i) those persons derive, directly or indirectly, an advantage or profits from the dissemination of the information in question; or (ii) the disclosure or dissemination is made with the intention of misleading the market as to the supply of, demand for, or price of wholesale energy products; " Or. en (Regulation (EU) No 1227/2011)
Amendment 167 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point e a (new)
Article 1 – paragraph 1 – point 2 – point e a (new)
Regulation (EU) No 1227/2011
Article 2 – point 2 . letter (c a) new
Article 2 – point 2 . letter (c a) new
(ea) giving orders to trade or undertaking transactions at or around a specific time when reference prices, settlement prices and valuations are calculated and lead to price changes which have an effect on such prices and valuations.
Amendment 168 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point f – introductory part
Article 1 – paragraph 1 – point 2 – point f – introductory part
(f) in paragraph (4), points (a) is and (b) are replaced by the following:
Amendment 173 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2 – point f a (new)
Article 1 – paragraph 1 – point 2 – point f a (new)
Regulation (EU) No 1227/2011
Article 2 – paragraph 4 – point b
Article 2 – paragraph 4 – point b
(f a) Paragraph 4, point b is replaced by the following "(b) derivatives relating to electricity or natural gas produced, traded or delivered in the Union; or derivatives relating to electricity or natural gas which may result in delivery in the Union;”;" Or. en (Regulation 1227/2011)
Amendment 190 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 1227/2011
Article 3, paragraph 1, subparagraph 1a (new)
Article 3, paragraph 1, subparagraph 1a (new)
The use of inside information by cancelling of orders or amending an orderor modifying an existing order, the establishment of links or dependencies between orders, or any other action relating to entering into transactions or issuing orders concerning a wholesale energy product to which the information relates, where the order was placed before the person concerned possessed the inside information, shall also be considered to be insider trading.;
Amendment 197 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1227/2011
Article 4a (new), paragraph 2
Article 4a (new), paragraph 2
2. An IIP shall have adequate policies and arrangements in place to make public the inside information required under Article 4(1) as close to real time as is technically possible, on a reasonable commercial basis. The information shall be made available for all purposes free of charge, including access through a clear application programming interface. The IIP shall efficiently and consistently disseminate such information in a way that ensures fast access to the inside information, on a non-discriminatory basis and in a format that facilitates the consolidation of the inside information with similar data from other sources.
Amendment 200 #
Proposal for a regulation
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Regulation (EU) No 1227/2011
Article 4a (new), paragraph 3, letter (d a) new
Article 4a (new), paragraph 3, letter (d a) new
(da) the type of information (e.g. unavailability, forecast, actual use);
Amendment 224 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Regulation (EU) No 1227/2011
Article 7, paragraph 1
Article 7, paragraph 1
1. ACER shall monitor trading activity and available transmission capacities in wholesale energy products to detect and prevent trading based on inside information and market manipulation or attempts thereof. It shall collect the data for assessing and monitoring wholesale energy markets as provided for in Article 8.;
Amendment 225 #
Proposal for a regulation
Article 1 – paragraph 1 – point 7 a (new)
Article 1 – paragraph 1 – point 7 a (new)
Regulation (EU) No 1227/2011
Article 7, paragraph 3
Article 7, paragraph 3
Amendment 238 #
Proposal for a regulation
Article 1 – paragraph 1 – point 9 – point -a (new)
Article 1 – paragraph 1 – point 9 – point -a (new)
Regulation (EU) No 1227/2011
Article 8 – paragraph 1
Article 8 – paragraph 1
(-a) Paragraph 1 is amended as follows: "Market participants, or a person or authority listed in points (b) to (f) of paragraph 4 on their behalf, shall provide the Agency with a record of wholesale energy market transactions, including orders to trade. The information reported shall include the precise identification of the wholesale energy products bought and sold, the price and quantity agreed, the dates and times of execution, the parties to the transaction and the beneficiaries of the transaction and any other relevant information. Periodically, market participants shall provide the total exposure by products and by party, including those transactions that occur over the counter. While overall responsibility lies with market participants, once the required information is received from a person or authority listed in points (b) to (f) of paragraph 4, the reporting obligation on the market participant in question shall be considered to be fulfilled. " Or. en (Regulation (EU) No 1227/2011)
Amendment 243 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10
Article 1 – paragraph 1 – point 10
Regulation (EU) No 1227/2011
Article 9, paragraph 1
Article 9, paragraph 1
1. Market participants entering into transactions which are required to be reported to ACER in accordance with Article 8(1) shall register with the national regulatory authority in the Member State in which they are established or resident. Market participants resident or established in a third country shall declare an office , that controls and executes trading activities related to European wholesale energy markets in one of the Member States in which they are active, and register with the national regulatory authority of that Member State.;
Amendment 245 #
Proposal for a regulation
Article 1 – paragraph 1 – point 10 a (new)
Article 1 – paragraph 1 – point 10 a (new)
Regulation (EU) No 1227/2011
Article 9 – paragraph 3
Article 9 – paragraph 3
(10 a) In Article 9, paragraph 3 is replaced by the following: "National regulatory authorities shall transmit the information in their national registers to the Agency in a format determined by the Agency. The Agency shall, in cooperation with those authorities, determine that format and shall publish it by 29 June 2012. Based on the information provided by national regulatory authorities, the Agency shall establish a European register of market participants. National regulatory authorities and other relevant authorities shall have access to the European register. Subject to Article 17, the Agency may decide toshall make the European register, or extracts thereof, publicly available provided that commercially sensitive information on individual market participants is not disclosed. " Or. en (Regulation (EU) No 1227/2011)
Amendment 273 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) 1227/2011
Article 13 – paragraph 3
Article 13 – paragraph 3
3. In order to fight against breaches of the provisions of this Regulation, to support and complement the enforcement activities of the national regulatory authorities, and to contribute to a uniform application of this Regulation throughout the Union, the Agency mayshall, with the support of the relevant competent national regulatory authorities, carry out investigations by exercising the powers conferred onto it by and in accordance with Articles 13a and 13b.
Amendment 278 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 4
Article 13 – paragraph 4
4. The Agency mayshall exercise its powers to ensure that the prohibitions set out in Article 3 and Article 5 and the obligations set out in Article 4 are applied where:
Amendment 293 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) 1227/2011
Article 13, paragraph 4, point (c a) new
Article 13, paragraph 4, point (c a) new