Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-253-125"
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"en.20110914.24.3-253-125"2
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"I applaud the Commission proposal, which aims to prevent abuse of the energy market. In my view, however, the failure to include markets in CO2 within the framework of EU emissions trading is a mistake. The major participants in the carbon markets, especially the electricity companies, also participate in the electricity and gas wholesale markets. The gas and electricity markets are also interlinked with the oil and coal market, the evolution of which has an impact on them. Nevertheless, these markets have a global dimension and cannot be adequately regulated at EU level. Market participants in these sectors should be invited to provide information, without being subject to the control and enforcement mechanism. The Agency for the Cooperation of Energy Regulators must be provided with sufficient financial and human resources to be able to set up liaison offices close to the places where major deals are concluded. Furthermore, it could be envisaged that the Agency serves in the future as a trade repository for energy-specific financial transactions. This would facilitate the operations of energy traders, as they would avoid having to report to the trade repository for the financial sector created under the European Market Infrastructure Regulation (EMIR)."@en1
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