On Monday 6 March, the European Securities and Markets Authority (ESMA) and the European Agency for the Cooperation of Energy Regulators (ACER) signed an updated Memorandum of Understanding (MoU), which strengthens the collaboration between the two institutions. This protocol specifically incorporates new areas of cooperation under the Market Correction Mechanism (MCM) Regulation (see EUROPE 13132/13) and benchmarks that are related to the energy sector.
ESMA and ACER will continue to cooperate in relation to the regulation of wholesale energy markets, which encompass both energy derivatives and spot markets. They will also work on liquefied natural gas (LNG) price assessments and energy-related benchmarks, whether or not they are administered by ACER.
In October 2022, in the context of the energy crisis, ESMA and ACER intensified their efforts to strengthen oversight of energy and energy derivatives markets. They launched the idea of a joint task force and highlighted possible areas of cooperation. The protocol also details the role of the task force.
To consult the Memorandum of Understanding: https://aeur.eu/f/5na (Original version in French by Anne Damiani)