22 Amendments of Bendt BENDTSEN related to 2010/0363(COD)
Amendment 54 #
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 energylectricity and gas markets reflect a fair interplay between supply and demand, which means that consumers can have confidence in these markets.
Amendment 60 #
Proposal for a regulation
Recital 2
Recital 2
(2) The advice of the Committee of European Securities Regulators and the European Regulators Group for Electricity and Gas confirmed that the scope of existing legislation may not properly address market integrity issues on the electricity and gas markets and recommended the consideration of an appropriate legislative framework intailored to the energy sector, which preventings market abuse and takes sector specific conditions into account which are not covered by other Directives and Regulations.
Amendment 62 #
Proposal for a regulation
Recital 3
Recital 3
(3) Energy markets are increasingly interlinked across the Union. Market abuse in one Member State often affects wholesale prices for electricity and gas across national borders. Therefore the concern to ensure the integrity of markets cannot be a matter only for individual Member States.
Amendment 83 #
Proposal for a regulation
Recital 9
Recital 9
(9) It should be clearly prohibited to use or to attempt to use inside information to trade either on one's own account or on the account of a third party. Use of inside information can also consist in trading in wholesale energylectricity and gas products by persons who know, or ought to know, that the information they possess is inside information.
Amendment 99 #
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 energylectricity and gas products should be required to provide this information for standardised products only to the Agency.
Amendment 107 #
Proposal for a regulation
Recital 17
Recital 17
(17) The Agency shouldmust ensure the operational security of the data which it receives, prevent unauthorised access to the information kept by the Agency, and establish procedures to ensure that the data it collects are not misused by persons with an authorised access to them. The Agency should also be assured that those authorities who have access to the data held by Agency will be able to maintain an equally high level of security and are bound by appropriate confidentiality arrangements. These rules must also apply to other authorities who gain access to the data for the purpose of this Regulation.
Amendment 111 #
Proposal for a regulation
Recital 18
Recital 18
(18) Where information is not commercially sensitive, the Agency should be able to make that information available to market participants and the wider public. Such transparency can help build confidence in the market and help the development of knowledge about the functioning of wholesale energy markets. To ensure greater transparency and public access to information on wholesale energy prices the Agency should prepare monthly country by country report on price developments in energy wholesale markets.
Amendment 128 #
Proposal for a regulation
Recital 21
Recital 21
(21) National regulatory authorities and competent financial authorities should cooperate to ensure a coordinated approach to tackling market abuse on wholesale energylectricity and gas markets which encompasses both commodity markets and derivatives markets.
Amendment 133 #
Proposal for a regulation
Recital 23
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. Over time it is necessary to move towards a regime with harmonised penalties.
Amendment 140 #
Proposal for a regulation
Article 1 – paragraph 1
Article 1 – paragraph 1
This Regulation establishes rules prohibiting abusive practices on wholesale energylectricity and gas markets coherent with those applying in financial markets. It provides for the monitoring of wholesale energylectricity and gas markets by the Agency.
Amendment 192 #
Proposal for a regulation
Article 2 – point 4 a (new)
Article 2 – point 4 a (new)
4a. ‘market participant’ means any person who enters into transactions in one or more wholesale electricity or gas markets;
Amendment 213 #
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
Amendment 223 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
It shall be prohibited to engage in, or attempt to engage in, market manipulation on wholesale energylectricity and gas markets.
Amendment 226 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. In order to take account of future developments on wholesale energy markets, the Commissionlectricity and gas markets and ensure coherence with other relevant EU legislation in the fields of financial services and energy, the Commission following advice provided by the Agency shall adopt delegated acts in accordance with Article 15 and subject to conditions of Articles 16 and 17, specifying the definitions set out at Article 2(1) to (5).
Amendment 229 #
Proposal for a regulation
Article 5 – paragraph 1 a (new)
Article 5 – paragraph 1 a (new)
1a. In preparing its advice, the Agency will carry out detailed public consultations.
Amendment 232 #
Proposal for a regulation
Article 5 – paragraph 2 – point a
Article 5 – paragraph 2 – point a
(a) the specific functioning of wholesale energylectricity and gas markets and the interaction between commodity markets and derivative markets;
Amendment 236 #
Proposal for a regulation
Article 5 – paragraph 2 – point c a (new)
Article 5 – paragraph 2 – point c a (new)
(ca) an opinion issued by the Agency following a public consultation.
Amendment 252 #
Proposal for a regulation
Article 6 – paragraph 3 – subparagraph 1 a (new)
Article 6 – paragraph 3 – subparagraph 1 a (new)
The Agency shall on a monthly basis publish a country by country report on price developments in the electricity and gas wholesale markets of the Union.
Amendment 277 #
Proposal for a regulation
Article 8 – paragraph 1
Article 8 – paragraph 1
1. The Agency shall establish mechanisms to share information it receives in accordance with Article 6(1) and Article 7 with national regulatory authorities, the competent financial authorities of the Member States, competition authorities of the Member States, ESMA and other relevant authorities. The Agency shall only give access to the mechanisms referred to in paragraph 1 to bodies which have set up systems enabling the Agency to meet the requirements of Article 9(1).
Amendment 293 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Agency may decide to make publicly available on an aggregated and anonymous basis parts of the information which it holds provided that commercially sensitive information on individual market participants or individual transactions is not released.
Amendment 353 #
Proposal for a regulation
Article 18 – paragraph 1 a (new)
Article 18 – paragraph 1 a (new)
The prohibitions of insider trading under Article 3 and market manipulation under Article 4 shall become effective once the relevant delegated acts referred to in Article 5 have been adopted.
Amendment 354 #
Proposal for a regulation
Article 18 – paragraph 1 b (new)
Article 18 – paragraph 1 b (new)
The data collection requirements shall become effective once the relevant delegated acts referred to in Article 7 have been adopted.