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15.11.2011 12:39

CEER Won the Energy Transparency Award 2011

AUTHOR: publics.bg

© Florence School of Regulation

The Winner of the 2011 Energy Transparency Award has been announced at the ETA Ceremony on November 9th in Brussels. The event was organized by the Florence School of Regulation for the second time.

"The Selection Committee decided to assign the 2011 European Transparency Award to the Council of European Energy Regulators (CEER) for its contribution to the conception and implementation of a Transparency Regulation at European scale.

The Selection Committee warmly congratulates the Council of European Energy Regulators for its past achievements and encourages regulators to keep the innovation and transparency track they have so successfully pursued, for the benefit of energy consumers and energy undertakings in Europe."

Last year, since the ETA was assigned for the first time, the Selection Committee decided to give special emphasis to past achievements, thus rewarding Nord Pool for their pioneering and inspiring activity. This year, the Selection Committee was forward looking, taking into account the fact that the recently approved Regulation on Energy Market Integrity and Transparency has a remarkable potential to substantially improve transparency of European energy markets. It will be the responsibility of the Agency for the Cooperation of Energy Regulators (ACER) to implement this Regulation and to make sure that the expected benefits will materialize soon.

The CEER Pilot Project Energy Trade Data Reporting Scheme demonstrated within a period of only six months that the establishment of an effective European monitoring of wholesale energy trading based on a largely electronic data collection will be challenging, but is feasible. It served as a prototype for the implementation of the Regulation on Energy Market Integrity and Transparency and hence it contributed to persuade EU legislators about the possibility and usefulness of more systemic and sophisticated EU-wide market monitoring. The pro-active role of energy regulators along the whole legislative process should also be emphasized. In fact, the CEER initiated a close and productive dialogue with financial market regulators many years ago aimed at providing comprehensive and coherent supervision and regulation of all energy markets, physical and financial. Moreover, the CEER has always asked the European Institutions to set up appropriate EU wide market and price monitoring mechanisms.