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EPEX SPOT publishes detailed feedback on EU reform proposals

Brussels / Paris, 12 May 2023

The European Power Exchange EPEX SPOT publishes detailed feedback on the proposals of the EU Commission to reform the Electricity Market Design and Improving EU protection against market manipulation (REMIT).

EPEX SPOT is concerned about certain amendments proposed in the reform of the EU’s electricity market design. Certain elements, such as the introduction of a Single legal entity for the operation of Market Couplingin essence a monopoly set-up, or the obligation for Power Exchanges to share order books even when no cross-border capacity is available, would seriously alter the functioning of short-term markets as we know them. The negative consequences on Market Coupling, be it Day-Ahead or Intraday, on one hand, and the detrimental effects on investment and innovation would seriously hamper the spot power market’s joint efforts to achieve decarbonisation.

Furthermore, EPEX SPOT acknowledges the importance of REMIT and its contribution to the transparency and integrity of European wholesale markets for electricity and gas. However, certain amendments suggested by the EU Commission are inconsistent, reach far beyond the intended scope of REMIT or create significant hurdles to trading on wholesale energy markets.

EPEX SPOT suggests several improvements which you can find in the documents attached.