(Brussels, 27 August 2008) The European Commission asked the European Energy Regulators and the Committee of European Security Regulators to comment on market abuse issue in the electricity and gas market. EPSU has submitted a paper with comments.
Some points:
- the regulators fail to acknowledge that several of the market failures they note are inherent in liberalised markets
- a regime of stricter controls on prices and preferably regulated prices is supported accompanied by serious sanctions
- the consultation process needs to be improved
The EPSU paper - Comments on the Consultation Paper:
Professor of Energy Policy Steve Thomas also contributed a brief paper drawing on the experience of the UK and the recent investigations by the UK parliament into price rises. He draws attention to the inherent risks in markets which give problems for investment (and hence security of supply).
To read his contribution :
The consultation paper of ERGER is available here
- Log in to post comments