BETA

Activities of Claude TURMES related to 2010/0363(COD)

Plenary speeches (1)

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

Shadow reports (1)

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

Shadow opinions (1)

2016/11/22
Committee: IMCO
Dossiers: 2010/0363(COD)
Documents: PDF(215 KB) DOC(534 KB)

Amendments (71)

Proposal for a regulation
Recital 4 a (new)

(4a) In order to increase transparency in the energy wholesale markets, the Agency for the Cooperation of Energy Regulators (ACER) should introduce a registry of market participants as well as investigate the feasibility and the timing of migrating OTC derivatives to trading floors entailing clearance.

2011/04/20
Committee: IMCO

Proposal for a regulation
Recital 15

(15) In order to ensure the necessary flexibility in collecting information on transactions in wholesale energy products, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty setting out the timing, form and content of the information which market participant are required to provide. Reporting obligations should not create unnecessary costs for market participants but must ensure that the Agency receives all information necessary to effectively pursue its tasks. Persons reporting transactions to a competent authority in accordance with the provisions of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments16 , and to trade repositories and competent authorities in accordance with the provisions of Regulation ../.. of the European Parliament and the Council on OTC derivatives, central counterparties and trade repositories should therefore not be subject to additional reporting obligations under this Regulation. It must however be ensured that these relevant authorities and trade repositories make all necessary information immediately available to the Agency

2011/04/20
Committee: IMCO

Proposal for a regulation
Recital 18

(18) Where information is not commercially sensitive, ~~the Agency should be able to~~or can be published in an aggregated and anonymised format, the Agency shall make that information available to market participants and the wider public. Such transparency ~~can~~will help building confidence in the market and ~~help~~foster the development of knowledge about the functioning of wholesale energy markets.

2011/04/20
Committee: IMCO

Proposal for a regulation
Recital 23

(23) It is important that the penalties for breaches of this Regulation are proportionate and dissuasive, and reflect the gravity of the infringements and the potential gains from trading on the basis of inside information and market manipulation. Recognising the interactions between trading in electricity and gas derivative products and trading in actual electricity and gas, the penalties for breaches of this Regulation should be in line with the penalties adopted by the Member States in implementing Directive 2003/6/EC. In order to achieve the level of dissuasion required, minimum penalties should therefore be set at the volume of at least the double of the direct and indirect potential financial gains and the damage caused to consumers resulting from the actions this regulation seeks to prevent

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 1 – paragraph 1

This Regulation establishes rules prohibiting abusive practices on wholesale energy markets coherent with those applying in financial markets. It provides for the monitoring of wholesale energy markets by the Agency and sets minimum requirements for operations at trading floors, all OTC trading and bilateral contracts.

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 1

4. Market participants shall effectively and publicly 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.

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 6 – paragraph 1 a (new)

1a. For full transparency and highest possible integration and liquidity of markets, the inclusion of all relevant markets and activities shall be reported, including the provision of balancing and re-dispatch, whether in response to contracts, regulatory requirements, or grid codes.

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 6 – paragraph 1 b (new)

1b. In order to effectively carry out its tasks, the Agency must also have access to information on the physical reality of grids, pipelines and storage facilities, in order to allow it to proceed to market design, identify bottlenecks, codify capacities and agree on algorithms for grid availability that would ensure fully transparent market conditions.

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 1

3. The Agency shall at least on an annual basis submit a report to the European Parliament and to the Commission on its activities under this Regulation and make this report public. Such reports shall bring to the notice of the Commission flaws in market rules, standards, and procedures which could facilitate insider trading and market manipulation or undermine the internal market. Reports may be combined with the report referred to in Article 11(2) of Regulation (EC) No 713/2009.

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2 a (new)

All recommendations should be made available to the European Parliament, the Council and the European Commission and be put into the public domain.

2011/04/20
Committee: IMCO

Proposal for a regulation
Article 9 – paragraph 2

2. The Agency ~~may decide to~~shall make publicly available parts of the information ~~which~~ it holds - based on fundamental and market data - in an accessible format, including those relating to bilateral contracts, to increase market transparency and confidence provided that commercially sensitive information on individual market participants or individual transactions is not released.

2011/04/20
Committee: IMCO

Proposal for a regulation
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 and reflect the damage caused to consumers. EU wide minimum standards for penalties to be endorsed by 2012 should be set at the level of at least the double of the total of the direct and indirect potential financial gains resulting from the actions this regulation seeks to prevent. 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.

2011/04/20
Committee: IMCO

Proposal for a regulation
Recital 4

(4) Wholesale energy markets encompass both commodity markets and derivative markets, with price formation in both sectors interlinked. This includes inter alia regulated markets, multilateral trading facilities, over the counter (OTC) transactions and bilateral contracts.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 4 a (new)

(4a) In order to increase transparency in the energy wholesale market, the Agency for the Cooperation of Energy Regulators (the Agency) shall introduce a registry of market participants as well as investigate the feasibility and the timing of migrating OTC derivatives to trading floors entailing clearance.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 4 b (new)

(4b) In order to create a level playing field between different market places and contract forms, minimum requirements for trading floors should be envisaged.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 5 a (new)

(5a) Recognising the interactions between electricity and gas markets with the markets for oil, coal and CO2, the Agency should monitor those markets in order to ensure a comprehensive understanding of market developments.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 5 b (new)

(5b) The Commission is currently carrying out a stakeholder consultation on 'Ensuring the integrity of the European carbon market'1. Subsequently, it shall urgently draft a proposal for specific legislation to introduce the respective infractions in the CO2 emission allowances market by the end of 2012 while ensuring coherence with this Regulation. 1 http://ec.europa.eu/clima/policies/ets/over sight_en.htm

2011/04/27
Committee: ITRE

Proposal for a regulation
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. This Regulation should apply to all transactions concluded, whether directly or through intermediaries, on regulated markets, on multilateral trading facilities, OTC transactions or bilateral contracts.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 13

(13) Efficient market monitoring is vital to detecting and deterring market abuse on wholesale energy markets. The Agency is best placed to carry out such monitoring as it has both a Union wide view of electricity and gas markets, and the necessary expertise in the operation of electricity and gas markets and systems in the Union. National energy regulatory authorities having an important understanding of developments on energy markets in their Member State should have an important role in ensuring efficient market monitoring. Or. en (This amendment applies throughout the text)

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 14

(14) Efficient market monitoring requires immediate and 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.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 15

(15) In order to ensure the necessary flexibility in collecting information on transactions in wholesale energy products, the Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty setting out the timing, form and content of the information which market participant are required to provide. Reporting obligations should not create unnecessary costs for market participants but must ensure that the Agency receives all information necessary to effectively pursue its tasks. Persons reporting transactions to a competent authority in accordance with the provisions of Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments16 , and to trade repositories and competent authorities in accordance with the provisions of Regulation ../.. of the European Parliament and the Council on OTC derivatives, central counterparties and trade repositories should therefore not be subject to additional reporting obligations under this Regulation. It must however be ensured that these authorities and trade repositories make all necessary information immediately available to the Agency.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 18

(18) Where information is not commercially sensitive, or can be published in an aggregated and anonymised format, the Agency should ~~be able to~~ make that information available to market participants and the wider public. Such transparency ~~can~~will help building confidence in the market and ~~help~~foster the development of knowledge about the functioning of wholesale energy markets.

2011/04/27
Committee: ITRE

Proposal for a regulation
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 efficiently. In order to fully benefit from its unique EU perspective and to provide robust information supporting demands to initiate investigations, the Agency should have investigatory powers in strong coordination with the national regulatory authorities concerned, for example in case of cross border cases.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 20

(20) The Agency should ensure that the application of this Regulation is done in a coordinated way across the Union, and is coherent with the application of Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse). Since market abuse on wholesale energy markets often affects more than one Member State, the Agency should have an important role in ensuring that investigations are carried out in an efficient and coherent way. To achieve this it should be able to request cooperation, demand to carry out further investigation and to coordinate the operation of investigatory groups comprised of representatives of the concerned national regulatory authorities, and where appropriate, other authorities.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 21

(21) NThe Agency, national regulatory authorities and competent financial authorities should cooperate to ensure a coordinated approach to tackling market abuse on wholesale energy markets which encompasses both commodity markets and derivatives markets. This cooperation could also take the form of regional groupings coordinated by the Agency reflecting EU market realities and the cases concerned.

2011/04/27
Committee: ITRE

Proposal for a regulation
Recital 23

(23) It is important that the penalties for breaches of this Regulation are proportionate and dissuasive, and reflect the gravity of the infringements and the potential gains from trading on the basis of inside information and market manipulation. Recognising the interactions between trading in electricity and gas derivative products and trading in actual electricity and gas, the penalties for breaches of this Regulation should be in line with the penalties adopted by the Member States in implementing Directive 2003/6/EC. In order to achieve the level of dissuasion required, minimum penalties should be set at the volume of at least the double of the direct and indirect potential financial gains and the damage caused to consumers resulting from the actions this Regulation seeks to prevent.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 1 – paragraph 1

This Regulation establishes rules prohibiting abusive practices on wholesale energy markets coherent with those applying in financial markets. It provides for the monitoring of wholesale energy markets by the Agency and sets minimum requirements for operations at trading floors, all OTC trading and bilateral contracts.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 1 – paragraph 2

This Regulation applies to trading in wholesale energy products. The provisions of Article 3 and Article 4 shall not apply to wholesale energy products which are financial instruments and to which the provisions of Article 9 of Directive 2003/6/EC apply. Separate legislative provisions should define sector specific infractions in the CO2 emission allowances market, to be presented by the end of 2012. This Regulation is without prejudice to Directive 2003/6/EC and 2004/39/EC as well as to the application of the provisions of European competition law to the practices covered by this Regulation.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 1 – paragraph 3

The Agency, national regulatory authorities, ESMA and competent financial authorities shall cooperate to ensure that a coordinated approach is taken to the enforcement of the relevant rules where actions relate to one or more financial instruments to which the provisions of Article 9 of Directive 2003/6/EC apply and also to one or more wholesale energy products to which the provisions of Article 3 and Article 4 apply.

2011/04/27
Committee: ITRE

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

For the purposes of applying the first subparagraph, information a reasonable 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 information includes all information related to the capacity of facilities for production, storage, consumption or transmission of electricity or natural gas, as well as information which is required to be disclosed in accordance with legal or regulatory provisions at Union or national level, market rules, and contracts or customs on the relevant wholesale energy market.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 2 – point 1 – subparagraph 2 a (new)

The Commission shall be empowered to develop guidelines and further clarify the definition of inside information in the form of delegated acts after consultation of stakeholders and notably the Agency.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 2 – point 1 – subparagraph 2 b (new)

The Agency shall establish a contact point for market participants that wish to clarify if a specific information shall constitute inside information according to this Regulation and the relevant delegated act.

2011/04/27
Committee: ITRE

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, as well as other abusive behaviour from current and future market practices.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 2 – point 2 – point b a (new)

(ba) trading in spot and derivatives energy markets leading to false price signals as well as the build up of asset bubbles, namely: the decoupling from the physically available electricity and gas in the market from the trade volumes contracted.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 2 – point 3 – point a – indent 3

– employing a fictitious device or any other form of deception or conntrivance relating to a wholesale energy product

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 2 – point 4 – subparagraph 1 – point a

(a) all contracts for the supply of natural gas or electricity, irrespective of where and how they are traded, including on balancing markets;

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 2 – point 4 – subparagraph 2

~~Contracts~~Large contract volumes, irrespective of where and how they are traded, for the supply of natural gas or electricity for the use of final consumers ~~are not~~shall be treated as wholesale energy products.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 1

4. Market participants shall immediately, effectively and publicly 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.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 1 a (new)

This Article shall apply also in the case of transactions where the market participant uses inside information to cover open positions even if strictly limited to the physical losses resulting from unplanned outages.

2011/04/27
Committee: ITRE

Proposal for a regulation
Article 5 – paragraph 2 – point a a (new)

(aa) the interdependencies of developments and abuses on the oil, coal and CO2 emission allowances markets with the wholesale energy markets for electricity and gas;

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 5 a (new)

Article 5a Registration and authorisation of market participants 1. National energy regulatory authorities shall with the support of the Agency establish a register of all market participants authorised in accordance with this Regulation in a common and agreed format. This register shall be publicly accessible. It shall be updated on a regular basis. 2. National energy regulatory authorities shall grant a trading authorisation to a market participant irrespective of the fact if there is a local establishment or the presence of local personnel in the Member State. 3. This authorisation shall not be granted unless the market participant complies with all requirements under the delegated acts adopted pursuant to this Article. Member States shall ensure: (a) the existence of legal entity; (b) that board members have no criminal record; (c) that the applicant has the technical, financial and organisational capacity to fulfil its regulatory duties; 4. National energy regulatory authorities may withdraw the authorisation issued to a market participant who: (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. 5. The Commission shall, after consultations with stakeholders, notably the Agency adopt delegated acts in accordance with Article 15 and subject to conditions of Articles 16 and 17, 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.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 1

1. The Agency shall monitor trading activity in wholesale energy products, emission allowance certificates and oil and coal markets to detect and prevent trading based on inside information and market manipulation as well as to analyse links between such trading and the events occurring in the related energy product markets. It shall collect the data for assessing and monitoring wholesale energy markets as provided for in Article 7.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 1 a (new)

1a. For full transparency and highest possible integration and liquidity of markets, the inclusion of all relevant markets and activities shall be reported to the Agency, including the provision of balancing and re-dispatch, whether in response to contracts, regulatory requirements, or grid codes.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 1 b (new)

1b. In order to effectively carry out its tasks, the Agency shall also have access to information on the physical reality of grids, pipelines and storage facilities, in order to allow it to proceed to market design, identify bottlenecks, codify capacities and agree on algorithms for grid availability that would ensure fully transparent market conditions.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 2

2. National regulatory authorities shall ~~cooperate~~regionally cooperate among themselves and with the Agency in carrying out the monitoring of wholesale energy markets referred to at paragraph 1. For this purpose national regulatory authorities shall have access to relevant information held by the Agency which it has collected in accordance with paragraph 1, subject to the provisions of Article 8(2).

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 1

3. The Agency shall at least on an annual basis submit a report to the European Parliament and to the Commission on its activities under this Regulation and make this report public. Such reports shall bring to the notice of the Commission flaws in market rules, standards, and procedures which could facilitate insider trading and market manipulation or undermine the internal market. Reports may be combined with the report referred to in Article 11(2) of Regulation (EC) No 713/2009.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2

The Agency ~~may~~shall make recommendations as to the records of transactions, including orders to trade and bilateral contracts, which it considers are necessary to effectively and efficiently monitor wholesale energy markets. Before making such recommendations the Agency shall consult with interested parties in accordance with the provisions of Article 10 of the Regulation (EC) No 713/2009. In particular the Agency shall consult with ESMA, national regulatory authorities and competent financial authorities in the Member States.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2 a (new)

Based on its findings, the Agency should evaluate whether minimum requirements for trading floors could contribute to create a level playing field between different market places and contract forms. This evaluation could also take the form of a report or recommendations.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 2 b (new)

All recommendations should be made available to the European Parliament, the Council and the European Commission and be put into the public domain.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 7 – paragraph 1

1. The Agency shall be provided directly and within the timeframe of 24 hours with a record of wholesale energy market transactions, including orders to trade. The Commission shall adopt delegated acts in accordance with Article 15 and subject to conditions of Articles 16 and 17, laying down the timing, form and content in which this information is reported and, where appropriate, defining thresholds for the reporting of transactions as well as specifying types of contracts for which transactions shall be reported.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 1

2. The delegated acts referred to in paragraph 1 shall ensure that persons referred to in paragraph 3 a), b) and c) who have reported transactions in accordance with Directive 2004/39/EC or Regulation (EC)---/---- of the European Parliament and of the Council on OTC Derivatives, central counterparties and trade repositories of the European Parliament and of the Council [European Market Infrastructure Regulation – 2010/0250(COD)] ~~are not subject~~shall make information available simultaneously according to reporting obligations ~~in addition to those~~ set out in that legislation.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 7 – paragraph 2 – subparagraph 2

Without prejudice to the first subparagraph, the delegated acts referred to in paragraph 1 ~~may~~shall establish a ~~non-~~ binding framework to allow organised markets and trade matching or trade reporting systems to provide the Agency timely with a record of wholesale energy transactions.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 7 – paragraph 4 – subparagraph 1

4. Market participants shall provide the Agency and national regulatory authorities with information related to the capacity and utilisation of facilities for production, storage, consumption or transmission of electricity or natural gas ~~for the purpose of monitoring trading in wholesale energy market~~or related to the capacity and utilisation of LNG facilities, including planned or unplanned unavailability of these facilities for the purpose of monitoring trading in wholesale energy markets. The Agency shall be directly provided with this information except for cases where reporting structures already exist. Reporting may in such cases be made simultaneously to the provisions of existing reporting structures.

2011/05/05
Committee: ITRE

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 collected by them available to the Agency timely and in the appropriate form.

2011/05/05
Committee: ITRE

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

Competent financial authorities ~~shall transmit~~reporting to ESMA shall transmit simultaneously to the Agency and to ESMA reports of transactions in wholesale energy products received under article 25(3) of Directive 2004/39/EC to the Agency and Article 6(2) of Regulation (EC)---/--- [European Market Infrastructure Regulation – 2010/0250(COD)].

2011/05/05
Committee: ITRE

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

Three years after the entry into force of this Regulation, the Agency shall draft a report based on its findings and submit it to the European Parliament, the Council and the Commission, presenting results of its investigation on the feasibility and the timing of migrating OTC derivatives to trading floors entailing clearance.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 9 – paragraph 2

2. The Agency ~~may decide to~~shall make publicly available parts of the information ~~which~~ it holds - based on fundamental and market data - in an accessible format, including those relating to bilateral contracts, to increase market transparency and confidence provided that commercially sensitive information on individual market participants or individual transactions is not released.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 1

1. National regulatory authorities shall ensure with the support of the Agency that the prohibitions set out in Articles 3 and 4 are applied.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2

Each Member State shall ensure that national regulatory authorities have the investigatory powers necessary for the exercise of this function with the support of the Agency. These powers shall be exercised in a proportionate manner. These powers may be exercised:

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2 – point b

(b) in collaboration with other authorities or market undertakings, also from other Member States;

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 10 – paragraph 1 – subparagraph 2 – point c a (new)

(ca) by request of the Agency in case its initial assessments have provided robust information to support recommendations to do so.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 10 – paragraph 2 a (new)

2a. The enforcement powers shall be exercised by the national energy regulatory authorities in conformity with national law.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 1

1. The Agency ~~shall~~must ensure that national regulatory authorities carry out their tasks under this Regulation in a coordinated way.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 11 – paragraph 1 – subparagraph 2

National regulatory authorities shall cooperate with the Agency and with each other for the purpose of carrying out their duties in accordance with this Regulation. This cooperation can also take the form of regional cooperation of national regulatory authorities within the structure of the Agency in order to reflect market realities.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 11 – paragraph 2 – subparagraph 2

Where a national regulatory authority suspects, or initial assessments and analysis by the Agency suggest that acts which affect wholesale energy markets or the price of wholesale energy products in that Member State are being carried out in another Member State, ~~it may~~the national energy regulatory authority shall request the Agency to take measures in accordance with paragraph 4.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 11 – paragraph 4 – introductory part

4. In order to carry out its functions under paragraph 1, where it suspects that there has been a breach of the provisions of this Regulation the Agency sha~~ll have~~s the power to:

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 11 – paragraph 4 – point a

(a) request one or more national regulatory authorities, and where appropriate, all national energy regulatory authorities in a region, to supply any information related to the suspected breach;

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 11 – paragraph 4 – point b a (new)

(ba) pursue initial assessments benefiting from its European perspective and in- house understanding of data;

2011/05/05
Committee: ITRE

Proposal for a regulation
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 and reflect the damage caused to consumers. EU wide minimum standards for penalties should be set at the level of at least the double of the total of the direct and indirect potential financial gains resulting from the actions this Regulation seeks to prevent. 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.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 14

Without prejudice to the competences of the Union institutions, including the European External Action Service, the Agency may establish contacts with supervisory authorities from third countries, especially with those impacting the EU energy wholesale market in order to promote the harmonisation of the regulatory framework. It may enter into administrative arrangements with international organisations and the administrations of third countries.

2011/05/05
Committee: ITRE

Proposal for a regulation
Article 14 – paragraph 1 a (new)

Companies from third countries where market rules do not comply with the provisions of this Regulation shall not obtain trading authorisation on the EU energy wholesale market.

2011/05/05
Committee: ITRE