Background

The project was carried out over a period of six months from July 2010 to January 2011. The work was completed in May 2011 by producing final report: Pilot Project for an Energy Trade Data Reporting Scheme, which is available under the tab of Documents and presentations in this section of the CEER homepage.

There is a widely acknowledged need to enhance market transparency and efficient monitoring of electricity and gas wholesale markets with the goal of ensuring market integrity in a comprehensive manner. Energy is increasingly traded across borders via platforms such as exchanges and brokers or equally important, bilaterally between traders. However, market monitoring is still fragmented and limited to individual national schemes and lacks a comprehensive, EU wide approach.

As existing legislation, especially with respect to market abuse, is currently mainly focusing on financial markets, the European Commission is elaborating an enhanced framework for the supervision of traded energy. To support an enhanced market integrity framework a comprehensive energy trade data reporting scheme would be favourable (compared to a patchwork of different national reporting obligations for market participants, being active in a number of different markets, e.g. electricity and gas or geographically).

Objectives and scope for a pilot project

A pilot project, supported by relevant stakeholders (such as traders, brokers, energy exchanges and regulators), has been initiated to demonstrate the feasibility of an efficient energy trade data collection, storage and dissemination via a single database (or a single view on a set of compatible databases) for a defined market area. Conceptional issues such as a standard data reporting format, data anonymisation, analysis and access rights as well as issues which would require special consideration in any future market integrity framework was addressed within the pilot project. The results  allowed drawing valuable practical conclusions for a potential further roll-out with regard to the different aspects covered by the project.

Project organisation

The project was organised under the guidance of the CEER FIS working group (since January 2012 this group is renamed as CEER MIT WG) and managed by E-Control (Austrian energy regulator) which has enlisted the support of EFET and the EFETnet eXRP project group as well as FORMAET. A high level steering committee, involving representatives from exchanges, brokers, traders, regulators and the European Commission has been set up. First results were envisaged by January 2011. The work was completed in May 2011 by producing final report: Pilot Project for an Energy Trade Data Reporting Scheme.

If you you would like to comment on the pilot project or need further information please contact Sven Kaiser (sven.kaiser@e-control.at) or Volker Zuleger (volker.zuleger@e-control.at).