Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-480-000"
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"en.20110913.40.2-480-000"2
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"Mr President, honourable Members, I have the privilege, today, of speaking on behalf of the Polish Presidency in the debate on the proposal for a regulation of the European Parliament and of the Council on energy market integrity and transparency. Work on this regulation has proceeded at extraordinary speed – the Commission’s proposal was submitted only in December of last year. I would like, here, to thank the Hungarian Presidency, because it is thanks to their efforts that today we have the opportunity to discuss the negotiated text of the regulation. I would also like to offer my sincere thanks to the representatives of the European Parliament and, in particular, to Mr Chatzimarkakis and the members of the Committee on Industry, Research and Energy, for their valuable contribution to the work on this regulation. I would like, in addition, to highlight the particularly important contribution made to the work done on the regulation by the Chair of the Committee, Mr Reul.
The Polish Presidency attaches particular importance to the internal market. It is the basis of European integration and a key factor for economic growth. A priority of the Presidency is to endeavour to strengthen the internal market and complete its construction, so that full use can be made of its potential for growth. The internal market should become a key factor in the way the European economy recovers its competitiveness and overcomes the effects of the crisis.
The establishment of a fully functioning European internal market for electricity and gas has, in recent years, been the subject of the particular concern of the Council, the Commission and the European Parliament alike, and the energy market has been increasingly liberalised and integrated. To ensure that the internal energy market functions correctly, and to make full use of its potential, it is necessary to ensure the market’s transparency across the European Union. The citizens, businesses and the authorities have to be sure that it is working correctly.
The current system of EU law is not sufficient to prevent abuses connected with trade in the energy market. Europe needs a strong energy market which is integrated, transparent and able to react quickly to all forms of manipulation and even to attempts at manipulation. The fact that a well-developed and financially sound wholesale gas and electricity market is in operation gives businesses the certainty that they will be able to react with flexibility to changes in market conditions. To this end, close cooperation is planned between ACER – the Agency for the Cooperation of Energy Regulators – and national regulatory and other competent authorities.
To this end, too, uniform provisions have been created concerning the scope of data and information to be collected and the means for doing so, and similarly concerning the way the wholesale gas and electricity markets are to be monitored. I should like to make clear, here, that REMIT, the Regulation on European Energy Market Integrity and Transparency, gives a particular implementing role to ACER. Particular responsibility will rest with the agency’s director, Alberto Pototschnig, who is present today and is following our debate, and its Administrative Board, which is chaired by Piotr Woźniak, who has also honoured us with his presence.
The regulation gives a clear definition of the concept of abuses, and imposes a prohibition on abuses in the wholesale market for electricity and derivative products and in the wholesale market for natural gas and derivative products. These provisions include a clear prohibition on insider trading and market manipulation. The provisions have been formulated in such a way as to ensure they are consistent with MAD, the Market Abuse Directive, and MiFID, the Markets in Financial Instruments Directive. The regulation is an important step towards achievement of our objective in terms of building an EU internal energy market by 2014.
We all agree that the energy market has to be competitive and dynamic. However, for this sector to develop properly, it has to be based on and regulated by transparent principles. The regulation we are discussing today is one of several factors which give this market a new form.
Mr President, Commissioner, honourable Members, I would like to express my particular gratitude for the intensive efforts made by all the institutions during the negotiations, which led to a successful outcome in the form of a political consensus on 23 June. We have worked very hard and fast and, as a result, have achieved agreement at first reading and in barely a few months. I should like, therefore, to urge the House to endorse this act, which is an expression of compromise between the Commission, the Council and Parliament, and which will contribute to an increase in the integrity and transparency of the energy market."@en1
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