20 Amendments of Herbert REUL related to 2010/0363(COD)
Amendment 53 #
Proposal for a regulation
Recital 1
Recital 1
(1) It is important to ensure that consumers and other market participants can have confidence in the integrity of wholesale electricity and gas markets and that prices set on wtholesale energyse markets reflect a fair, competition-based interplay between supply and demand.
Amendment 66 #
Proposal for a regulation
Recital 4
Recital 4
(4) Wholesale energy markets encompass both commodity markets and derivative markets, with price formation in both sectors interlinked. Long-term contracts or contracts with final users do not fall within the scope of this Regulation.
Amendment 90 #
Proposal for a regulation
Recital 11
Recital 11
(11) Specification of the definitions of inside information and market manipulation is necessary to account for the specificities of wholesale energy markets, which are dynamic and subject to change, and to guarantee consistency with other EU legislation in this area. The Commission should be empowered to adopt delegated acts in accordance with Article 290 of the Treaty in respect to such detailed rules. ACER and other market participants should be involved in the consultations and preparations in good time and the European Parliament and the Council should be informed at an early stage.
Amendment 108 #
Proposal for a regulation
Recital 17
Recital 17
(17) The Agency should ensure the operational security of the data which it receives, prevent unauthorised access to the information kept by the Agency, and establish procedures and appropriate legal provisions to ensure that the data it collects are not misused by persons with an authorised access to them. The Agency should also be assured that those authorities who have access to the data held by Agency will be able to maintain an equally high level of security.
Amendment 149 #
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1a List of wholesale products For the purposes of implementing Articles 3 and 4, the Agency shall draw up and publish a list of wholesale products which fall within the scope of Article 9 of Directive 2003/06/EC.
Amendment 151 #
Proposal for a regulation
Article 2 – point 1 – subparagraph 1
Article 2 – point 1 – subparagraph 1
1. "inside information" means precise information which has not been made public, relating directly or indirectly to one or more wholesale energy products and which, if it were made public, could significantly affect the prices of such wholesale energy products market participants would expect to receive in accordance with established market practice;
Amendment 155 #
Proposal for a regulation
Article 2 – point 1 – subparagraph 2
Article 2 – point 1 – subparagraph 2
For the purposes of applying the first subparagraph, "inside information" is (a) information a reasonable market participant would be likely to use as part of the basis of his decision to enter into aone or more transactions relating to a wholesale energy product is information which, if it were made public, would be likely to have a significant effect on the prices of such wholesale energy products. Such information includes information related to the capacity of facilities for production, storage, consumption or transmission of electricity or natural gas, as well as, taking account of the laws or customs applicable on the relevant wholesale markets, or (b) information which is required to be disclosed in accordance with legal or regulatory provisions at Union or national level, market rules, and contracts or customs on the relevant wholesale energy market. Information about trading strategies shall not be regarded as "inside information" within the meaning of this provision.
Amendment 165 #
Proposal for a regulation
Article 2 – point 2 – point a – indent 3
Article 2 – point 2 – point a – indent 3
– employ or attempt to employ fictitious devices or any other form of deception or contrivance which send out, or are likely to send out, false or misleading messages concerning the supply of, demand for or the price of a wholesale energy product;
Amendment 168 #
Proposal for a regulation
Article 2 – point 3
Article 2 – point 3
Amendment 170 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 1
Article 2 – point 4 – subparagraph 1
4. "wholesale energy products" means the following contracts and derivativeproducts, irrespective of wthere and how market segment in which they are traded:
Amendment 175 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 1 – point a
Article 2 – point 4 – subparagraph 1 – point a
(a) standardised tradeable contracts for the supply of natural gas or electricity;
Amendment 176 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 1 – point b
Article 2 – point 4 – subparagraph 1 – point b
(b) standardised tradeable contracts and derivatives relating to the transport of natural gas or electricity;
Amendment 179 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 1 – point c
Article 2 – point 4 – subparagraph 1 – point c
Amendment 181 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 1 – point d
Article 2 – point 4 – subparagraph 1 – point d
Amendment 183 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 2
Article 2 – point 4 – subparagraph 2
Amendment 188 #
Proposal for a regulation
Article 2 – point 4 – subparagraph 2 a (new)
Article 2 – point 4 – subparagraph 2 a (new)
The following products shall not be regarded as wholesale energy products: (a) contracts for the supply of natural gas or electricity for the use of final consumers, and (b) long-term contracts for the physical supply of electricity or natural gas.
Amendment 198 #
Proposal for a regulation
Article 2 – point 5 a (new)
Article 2 – point 5 a (new)
5a. "market participant" means any natural or legal person, including a transmission network operator, who is involved in wholesale energy transactions;
Amendment 208 #
Proposal for a regulation
Article 3 – paragraph 3 a (new)
Article 3 – paragraph 3 a (new)
3a. If an emergency is declared pursuant to Article 10(3)(c) of Regulation (EU) No 994/2010 and market participants act in accordance with their responsibilities and the emergency plans, no proceedings may be brought against them on the basis of Article 13 of this Regulation.
Amendment 237 #
Proposal for a regulation
Article 5 – paragraph 2 – point c a (new)
Article 5 – paragraph 2 – point c a (new)
(ca) the different characteristics of natural gas and electricity.
Amendment 259 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The Agency shall be provided by market participants or, on their behalf, by one of the persons referred to in paragraph 3 (b) to (e) with a record of wholesale energy market transactions, including orders to trade. The Commission shall adopt delegated acts in accordance with Article 15 and subject to conditions of Articles 16 and 17, laying down the timing, form and content in which this standardised products. Purely intra-group transactions shall not be required to be reported. In order to fulfil market participants’ reporting obligations, the required information shall, wherever possible, be reported by one of the persons referred to in paragraph 3 (b) to (e). The Commission shall adopt delegated acts in accordance with Article 15 and subject to conditions of Articles 16 and 17 after wide consultation with stakeholders and an impact assessment. The delegated acts shall: (a) describe the wholesale energy products to which the reporting obligations shall apply; (b) lay down the content of the information isto be reported and, where appropriate, defining thresholds for the reporting of transactions as well as specifying types of contracts for which transactions shall be reported. , including precise identification of the product traded, the price agreed and the quantity, the dates and times of agreed execution, the parties to the transaction and the beneficiaries of the transaction; (c) lay down when and in what form the information is to be reported; (d) define appropriate minimum thresholds for the application of the reporting obligations.