Improving the Union's protection against manipulation of the wholesale energy market

I voted in favor of the report on the proposal for a regulation to improve the Union's protection against manipulation of the wholesale energy market. The energy crisis, significantly aggravated by Russia's invasion of Ukraine, has led the European Commission to propose a reform of the configuration of the electricity market. As part of this reform, several key pieces of EU legislation are being revised, including the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT).This 2011 regulation aims to prevent and combat illicit practices such as insider trading and market manipulation, thus helping to ensure the transparency, competitiveness and stability of energy markets. In this proposed revision, the Commission plans to strengthen the capacity of the Agency for the Cooperation of Energy Regulators (ACER) and national regulators to monitor the integrity and transparency of the energy market. With the amendments tabled by the Greens, we went further than the Commission's proposal: we suggested giving ACER stronger investigative powers and instruments in cross-border cases. We also suggested that national regulatory authorities or Member States should not be allowed to prevent investigations from taking place

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