Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-249-312"
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"en.20110914.24.3-249-312"2
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"I voted in favour of this important document. The Commission proposal for a regulation (REMIT – Regulation on Energy Market Integrity and Transparency) establishes an EU-wide legal framework to prevent market abuse and manipulation in the energy sector (gas and electricity). Unfair practices on wholesale energy markets affect price levels. Such practices can cause high price volatility, lead to increased energy prices for end consumers (both citizens and companies) and undermine the confidence of potential investors in energy infrastructure projects. Transparency of energy markets is a prerequisite for further integration of the EU energy market, which is expected to bring important benefits to consumers. The regulation prohibits market abuse in the form of insider trading and market manipulation in wholesale energy products (electricity and gas). I agree that market manipulation should be sanctioned equally throughout the EU in order to prevent companies which infringe the REMIT provisions from setting up in Member States with the least severe penalties. I welcome the call for the Commission to present proposals by the end of 2012 to further harmonise penalties and set up minimum requirements for penalties at EU level."@en1
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