Wholesale energy market integrity and transparency

The Presidency informed the Council on the state of play of a draft regulation on energy market integrity and transparency.

Among the key provisions that have been thoroughly examined by the Council instances one can note those related to:

• definitions,
• the role of ACER and of national regulatory authorities,
• the reporting framework and procedures as well as the Council's general endeavour to ensure consistency with corresponding instruments in the financial sector and to avoid duplication
• with such instruments.

The examination by the Council instances has led to a large degree of convergence on the text of the draft Regulation, notwithstanding several remaining concerns

of individual delegations on which work is continuing as well as an upcoming discussion in Coreper that will focus on the use of delegated acts and/or implementing acts.

In its conclusions of 4 February 2011, the European Council invited the Council and the European Parliament to work towards the early adoption of the Commission's proposal.  

The European Council conclusions of 4 February 2011 invited the Council and the European Parliament to work towards the early adoption of the Commission's proposal. In that light, following good progress in the Council and the vote in the European Parliament’s Committee on Industry, Research and Energy on 26 May, negotiations with the European Parliament will start on 16 June in order to reach a first-reading agreement by the end of June.