The European Commission’s latest update to EU gas capacity allocation mechanism laws is an encouraging sign for market participants tired of law-makers introducing potentially market-changing rules without understanding their impact. The commission slipped in an unexpected and unwelcome surprise for market participants when it circulated a new draft of a network code for gas markets […]
Energy Connections
The oil-gas (dis)connection
Oil and other commodity markets rallied in early March, but a key support factor behind the rise was speculative trade, rather than reliable supply and demand indicators.
Gas industry struggles to prepare for changing rules amid tariffs storm
Knowing how to prepare for going outside during winter months feels, at times, impossible to predict in London. The weather behaves erratically from week to week – mild and rainy; brisk and sunny; bitter and cold; snowy and grey. At times, it has seemed that shippers, transmission system operators (TSOs) and regulators throughout the bloc […]
UK competition inquiry: a regulator’s last stand?
This is a guest post by the editor of ICIS’s European Daily Electricity Markets, Jamie Stewart. The UK wholesale energy markets were given a clean bill of health on Wednesday, when the initial findings of a major competition inquiry were published here. The report, which clearly indicates the probe’s future direction, picked on aspects of […]
VAT fraud in energy markets
Ten power and gas organisations have sounded the warning bell over fraud in EU energy markets. No case of fraud in the power and gas markets yet, but some interesting examples exist in Germany. Read this article for more.
ESMA consults on physical gas and power forwards
The European Securities and Markets Authority (ESMA) released the latest installment of the saga on whether physical power and gas forwards are derivatives. If they are, then most over-the-counter trades in power and gas would come within the scope of the European Market Infrastructure Regulation – EMIR. That would mean energy companies would have to […]
Knowing what is in your REMIT
As mentioned in this blog recently and in this ICIS story today, the implementing acts for REMIT are likely to come in November. It is possible they might come sooner. In the article linked to above, some market participants complain about the six-month timeframe companies will have to digest the implementing acts before they have to […]
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