ACER has published this report, “Final Assessment of the EU Wholesale Electricity Market Design” which looks at how well the current market in the EU performs. In general, the report finds that the current market design is fit for purpose. The recent market events have led to several proposals and in some cases implementation, of market interventions. The report argues against these in principle. Several suggestions are included for improvement, which are stated both in the opening summary and also in the detail of the report. Previous pushback against market interventions (see here) have recently been joined by this open letter from several industry associations. A webinar will be held by ACER to review the contents of the report on the 5th May (see here).

ACER and CEER have also released this report providing views on the proposals recently published by the European Commission to legislate for targets relating to gas in store (see here). While the report understands a possible need for such targets in the short term, it does not support long term market intervention. ACER and CEER will run a webinar on the topic of gas storage on the 17th May (see here).