MCM, UK CBAM and AAE – Seasonal greetings
It has been agreed that the Market Correction Mechanism(MCM), which limits the price of wholesale gas (see here) together with other emergency measures, will be extended for another year. The announcement…
MCM to be extended
The Market Correction Mechanism, which limits the price of wholesale gas (see here) and which was due to expire at the end of the year, is proposed to be extended…
Catching up: GB TCLC penalty, IOLC and market design (GB/EU)
This is the final "catching up" post following our offline period. The previous post on REMIT can be found here and CBAM/EMIR here. In Great Britain a generator was asked…
MCM to apply to all VTPs – ACER LNG benchmark starts
On Friday the European Commission announced that the Market Correction Mechanism (MCM), which limits the price of derivatives with TTF as the underlying, will apply to derivatives with all EU…
New REMIT and market design legislative proposals
The European Commission has released legislative proposals relating to an updated version of REMIT level 1 and also the changes to the EU energy market design, on which a consultation…
Start of MCM and response to market design consultation
The EU gas Market Correction Mechanism(MCM, see here) goes into effect today. In the event that the required conditions are reached, i.e. the relevant TTF related commodity derivative goes above…
Catch up: LNG reference price, REMIT Quarterly, UK AAT and more
We have been offline for a couple of weeks and this post aims to catch up on some key news: ACER published the first "reference price", which will be a…
Market design review, impacts of MCM, LNG price assessment
The European Commission has opened a consultation on the future design of the European energy markets. The consultation suggests changes in the structures of the market, partly in response to…
First LNG price assessment not calculated on Friday
On Friday, ACER started to publish price assessments relating to LNG, as per the requirements of the Council Regulation (see here). However, the data received was insufficient to calculate an…
LNG price assessment and reporting commences today
As of today ACER will be publishing an LNG price assessment as per the Council Regulation published in the Official Journal of the European Union in late December (see here).…