Oct 11th 2011
EU Council adopts framework for monitoring energy markets
The European Council adopted a regulation on wholesale energy market integrity and transparency following the first reading agreement reached with the European Parliament on Monday 10 October. The legislation has been introduced to combat potential for abuse and manipulation of Europe's increasingly liberalised and interconnected energy markets. The new regulation sets out a framework for monitoring wholesale energy markets in order to detect and deter market abuse and manipulation. The new regulation: prohibits the use of insider information when selling or buying in wholesale energy markets; outlaws manipulative transactions; and makes the Agency for the Co-operation of Energy Regulators responsible for monitoring trading activity.
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