Policy area - Financial markets

Legislation has been extended to cover trading in energy and other commodities to avoid abusive or anti-competitive behaviour on the one hand and to protect those involved in or affected by trading on the other hand. High market integrity and transparency are the aims, which Eurogas fully supports. At the same time, Eurogas cautions against increasing complexity and costly, administrative burdens  that could discourage companies from the trading that is vital for their business of buying and selling gas.

Regulation on energy market integrity and transparency

The main objective is to prevent the use of insider information and other forms of market manipulation that distort wholesale energy prices. This is done by monitoring energy trading at EU level and by introducing penalties for market manipulation at the national level.

Markets in Financial Instruments Directive (MiFID)

This Directive now also aims at commodity trading, requiring central clearing and other obligations for certain transactions. Thresholds and other provisions should ensure that wholesale trading and hedging remains affordable to all gas companies.

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