Johannes Kindler Vice-Chairman BundesnetzagenturVice-President of CEER

3rd FTS – CEER meetingSt-Petersburg, 17 May 2011

New Regulation of Energy Trading in Europe

23rd FTS-CEER meeting, 17 May 2011

Energy Trading

Tra

din

g

Tra

nsp

ort

Ge

ne

ratio

n

Single European Market

33rd FTS-CEER meeting, 17 May 2011

Current situation

Energy Trading

MiFID EMIRMAD

43rd FTS-CEER meeting, 17 May 2011

Current situation

Energy Trading

MiFID

National AuthoritiesESMAACER

EMIRMAD

Energy Trading

MiFID EMIRMAD

53rd FTS-CEER meeting, 17 May 2011

Solution

RR egulation on

EE nergy

M M arket

II ntegrity and

TT ransparency

63rd FTS-CEER meeting, 17 May 2011

Transparency

REMIT

REMITTransaction Reporting

Market Abuse

Insider Dealing

73rd FTS-CEER meeting, 17 May 2011

New regulation

MiFIDEMIRMAD

REMIT

Energy Trading

83rd FTS-CEER meeting, 17 May 2011

There is a risk!

MiFIDEMIRMAD

REMIT

Energy Trading

Split between

Spot Derivatives

93rd FTS-CEER meeting, 17 May 2011

REMIT: Licensing

103rd FTS-CEER meeting, 17 May 2011

REMIT: Licensing

113rd FTS-CEER meeting, 17 May 2011

REMIT: Licensing

123rd FTS-CEER meeting, 17 May 2011

Key aspects of CEER advice

One single trading license:

permits European-wide trading activities covers electricity and gas necessary for wholesale trading (not supply) considered by the home country of the trading companies headquarters fees are cost-based

Public consultation until 17th June. CEER workshop on 31st May in Brussels.

133rd FTS-CEER meeting, 17 May 2011

Спасибо за внимание

(Thank you for your attention!)

www.energy-regulators.eu