The second session of inter-institutional negotiations on the ‘REMIT’ regulation, as part of the reform of the European electricity market (see EUROPE 13244/8), took place on Thursday 26 October and returned to the two sticking points between the Council of the EU and the European Parliament, namely the investigative powers granted to the Agency for the Cooperation of Energy Regulators (ACER) and market participants established in third countries.
Discussions have made little progress since the last trilogue, which took place on 21 September (see EUROPE 13255/2).
Parliament wants ACER to be able to carry out investigations autonomously, while the EU Council wants the national regulatory authorities to have the final say by giving their consent. The EU Council also considers that the issue of criminal sanctions is the responsibility of the Member States.
A parliamentary source told EUROPE that positions on this point were still far apart and that more meetings were needed to find a solution, in particular by looking at other European legislation that takes into account the role of agencies such as ESMA (European Securities and Markets Authority).
A solution has also yet to be found for market participants established in a third country, namely whether they should register with the national regulatory authority of the Member State in which they have declared an office, as Parliament would like, or whether they should appoint a representative in the Member State in which they are active and register with the national regulatory authority of that Member State, as the EU Council advocates.
According to several parliamentary sources, for both the Parliament and the EU Council, it is not the distinction between “an office or a representative” that really counts, but “the result”. The aim is for these companies established in third countries to “provide information and be reliable and responsible”. It remains to be decided which option will best meet this objective.
The next political negotiations will take place on 16 November, the same day as those on the electricity market design (EMD), with the aim of reaching a general agreement in December. (Original version in French by Pauline Denys)