13 Amendments of Adam GIEREK related to 2010/0363(COD)
Amendment 67 #
Proposal for a regulation
Recital 4
Recital 4
(4) Wholesale energy markets encompass both commodity markets and derivative markets, which are of vital importance to the energy and financial markets, with price formation in both sectors interlinked.
Amendment 84 #
Proposal for a regulation
Recital 10
Recital 10
(10) Manipulation on wholesale energy markets involves artificially causing prices to be at a level not justified by the actual availability and costs of production, storage or transportation capacity and demandeffective demand, in other words where the recipients have the technical or technological capacity to receive the energy and the financial capacity to pay for it.
Amendment 110 #
Proposal for a regulation
Recital 18
Recital 18
(18) Where information is not commercially sensitive, the Agency should be able to make that information available to market participants and the wider publicAvailability of price information is a vital pre-condition for transparency. Such transparency can help build confidence in the market and help the development of knowledge about the functioning of wholesale energy markets.
Amendment 125 #
Proposal for a regulation
Recital 21
Recital 21
(21) National regulatory authorities and competent financial authorities should cooperate on a regular and operational basis to ensure an ongoing coordinated approach to tackling market abuse on wholesale energy markets which encompasses both commodity markets and derivatives markets.
Amendment 152 #
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 decisions taken by market participants concerning the setting of the prices of such wholesale energy products;
Amendment 206 #
Proposal for a regulation
Article 3 – paragraph 3
Article 3 – paragraph 3
3. Where the person who possesses inside information in relation to a wholesale energy product is a legal person, the prohibitions laid down in paragraph 1 shall also apply to the natural persons who take part in the decision to carry out the transaction in the name of and for the account of the legal person concerned.
Amendment 215 #
Proposal for a regulation
Article 3 – paragraph 4 – subparagraph 2
Article 3 – paragraph 4 – subparagraph 2
A market participant may under his own responsibility delay by not more than 30 days the public disclosure of inside information such as not to prejudice his legitimate interests provided that such omission would not be likely to mislead the public and provided that the market participant is able to ensure the confidentiality of that information and does not make decisions relating to trading in wholesale energy products based upon this information. In this situation the market participant shall provide this information to the Agency and the relevant national regulatory authority having regard to the provisions of Article 7(4).
Amendment 228 #
Proposal for a regulation
Article 5 – paragraph 1
Article 5 – paragraph 1
1. In order to take account of future developments on wholesale energy markets, the Commission shall adopt delegated acts, within 30 days of the entry into force of this Regulation, in accordance with Article 15 and subject to conditions of Articles 16 and 17, specifying the definitions set out at Article 2(1) to (5).
Amendment 262 #
Proposal for a regulation
Article 7 – paragraph 1
Article 7 – paragraph 1
1. The Agency shall be provided with a record of wholesale energy market transactions, including orders to trade. The Commission shall adopt delegated acts, within 30 days of the entry into force of this Regulation, in accordance with Article 15 and subject to conditions of Articles 16 and 17, laying down the timing, form and content in which this information is reported and, where appropriate, defining thresholds for the reporting of transactions as well as specifying types of contracts for which transactions shall be reported.
Amendment 292 #
Proposal for a regulation
Article 9 – paragraph 2
Article 9 – paragraph 2
2. The Agency may decide to make publicly available parts ofshall publish the information which it holds provided that commercially sensitive information on individual market participants or individual transactions is not released. The Agency shall make the data available to research centres in aggregate form.
Amendment 330 #
Proposal for a regulation
Article 13
Article 13
The Member States shall lay down the rules on penalties applicable to infringements of the provisions of this Regulation and shall take all measures necessary to ensure that they are implemented. The penalties provided for must be effective, proportionate and, dissuasive and non-discriminatory. The Member States shall notify those provisions to the Commission by22... at the latest and shall notify it without delay of any subsequent amendment affecting them.
Amendment 332 #
Proposal for a regulation
Article 14
Article 14
Amendment 349 #
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. The European Parliament andor the Council may object to the delegated act within a period of two months from the date of notification. At the initiative of the European Parliament or the Council this period shall be extended by one month.