Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-485-000"
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"Mr President, first of all, I would like to thank Mr Chatzimarkakis very much for his hard work and for the ongoing, effective cooperation on this subject which has enabled us to achieve good results, in consultation, of course, with the Council and the Commissioner.
As has already been mentioned, this is all about consumer protection. Is it absolutely necessary to adopt a regulation of this kind and to protect consumers against market abuse and insider trading? I believe that it is. Recent cases in the USA in particular have shown that market participants are very likely to make repeated attempts to exploit their market power and to take part in insider trading, because this is something that almost goes with the territory. Therefore, it is absolutely vital that we take measures to prevent this.
As Mr Gyürk has already said, we are now part of a European network. The energy industry is, thank goodness, no longer a purely national or regional issue. Instead, it is a European network and, therefore, we need European regulations. This does not mean that the national authorities and, in particular, the national regulatory bodies, no longer have a job to do. The work must, of course, be carried out primarily by the national authorities, which have an overview of the markets and the market participants. However, they must cooperate closely with the Agency for the Cooperation of Energy Regulators (ACER). It is very important that we maintain an overview of the situation in Europe and take these connections and networks into consideration.
The register is also important. Many of us wanted more than just a register with an approval procedure, but perhaps this would have involved too much red tape. We must wait and see. We now have a register which has, and will continue to obtain, the relevant information to allow the regulatory bodies to act appropriately.
The penalties and sanctions have already been referred to, in particular, by Mr Gyürk. It makes no sense to take action against market powers and market abuse if, at the same time, there is no possibility of imposing penalties. It would also not be a sensible approach for some countries to have stiff penalties and others more lenient ones, because the companies would move to the countries where the penalties were less stringent. For this reason, we need to harmonise the situation over the course of time.
My final point concerns the delegated acts. Mr Oettinger has given us his opinion on this. I hope, Mr Oettinger, that you take the right approach to the delegated acts and I would like to take this opportunity to mention the fact that we felt that this approach was slightly lacking in your references to hoisting flags and flying them at half mast. If every country which does not complete a specific task only flies its flags at half mast, we must ask all the countries to fly their flags at half mast. We need to be a little more modest with regard to this question. Otherwise, Mr Oettinger, I and my group value your commitment to energy issues very highly, when you focus your attention on them."@en1
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