Energy Market Surveillance I: Fundamentals of Enforcement and Abusive PracticesEnergy Market Surveillance I: Fundamentals of Enforcement and Abusive PracticesEnergy Market Surveillance I: Fundamentals of Enforcement and Abusive PracticesEnergy Market Surveillance I: Fundamentals of Enforcement and Abusive Practices
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Energy Market Surveillance I: Fundamentals of Enforcement and Abusive Practices
  • Webinar Outline

  • Speakers

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    ERRA is launching a series of webinars on energy market surveillance and market manipulations. The purpose of the first such webinar is to present fundamentals of effective functioning of energy market regulatory surveillance and monitoring systems. This introductory program shall give guidance to regulators on how to plan and develop sound systems of energy market surveillance. The theoretical presentations will be supported by case studies illustrating types of abusive practices in energy markets.

    Roster of Webinar Speakers

    Moderator
    Swora, Mariusz, dr hab.
    ERRA Strategic Advisory Board Member, Former ERRA Vice-Chair; Former President, Energy Regulatory Office, Poland
    Speaker bio
    Swora, Mariusz, dr hab.
    ERRA Strategic Advisory Board Member, Former ERRA Vice-Chair; Former President, Energy Regulatory Office, Poland
    Swora, Mariusz, dr hab.

    Mariusz Swora, dr hab., Attorney At Law, is a member of the ERRA Strategic Advisory Board. A full member of the Board of Appeal at the EU Agency for the Cooperation of Energy Regulators (2016-2021). He holds Ph.D. in law and habilitation titles. For several years he was a senior lecturer at the law department of Adam Mickiewicz University in Poznan and an associate professor at the law department of Jagiellonian University in Krakow. Mariusz Swora is an international expert in energy law and has authored over 140 publications in this area (including problems related to the energy markets regulation and regulators, energy transition, and commentary on Energy Law).

    He was the President of the Energy Regulatory Office in Warsaw (2007-2010). During his term of office as the vice chairman of ERRA, he represented the organization at the G8 meeting in Rome (2009). Together with dr Gabor Szörényi, he initiated studies on the intersection of innovation and energy regulation at ERRA (presented during ERRA Energy Regulatory Innovation Day, Poznan 2015).

    Mariusz Swora was a member of the advisory council at A.T. Kearney in Poland (2015). Between 2017-2018, he was the chairman of the steering committee of a sectoral program for energy at the National Centre for Research and Development.

    Winner of the ERRA Energy Regulatory Research Award 2014 (study devoted to the obligation to exchange electricity), also recognized for outstanding leadership of ERRA (2020). Laureate of the Laurel of Merit for the Polish Industry (2016).

    Webinar Speakers
    Nagali, Eleonora
    Policy Officer, Agency for the Cooperation of Energy Regulators (ACER)
    Speaker bio
    Nagali, Eleonora
    Policy Officer, Agency for the Cooperation of Energy Regulators (ACER)
    Nagali, Eleonora

    Eleonora Nagali, Ph.D., joined the European Union Agency for the Cooperation of Energy Regulators (ACER) in April 2019 as Policy Officer in the Market Integrity and Transparency department. She is in charge of providing guidance to stakeholders on REMIT policy topics and on the transaction reporting obligation under REMIT. She is also dedicated to the monitoring of the energy market design evolution potentially relevant for the REMIT data collection, with particular reference to market coupling. Before joining ACER, Eleonora has spent two years as Assistant to the Board at the Italian Regulatory Authority for Energy Networks and Environment (ARERA), and more than five years as senior analyst at the Italian energy exchange (GME) where she has been dedicated to the surveillance of the spot natural gas markets, REMIT compliance and Registered Reporting Mechanisms (RRM) management, and NEMO representative in several market coupling working groups. Eleonora has a M.Sc. in physics and a Ph.D. in Material Science, with a specialization in quantum information, both from “La Sapienza” University of Rome, and an Executive Master in Energy Resources and Global Environmental Strategies from “Luiss Business School” University of Rome.

    Ihasz-Toth, Daniel
    Policy Officer, Agency for the Cooperation of Energy Regulators (ACER)
    Speaker bio
    Ihasz-Toth, Daniel
    Policy Officer, Agency for the Cooperation of Energy Regulators (ACER)
    Ihasz-Toth, Daniel

    Daniel Ihász-Tóth has been working with the European Union Agency for the Cooperation of Energy Regulators (ACER) since 2014. He has worked on implementation and then on the operations of the EU-wide energy market transparency and integrity framework (REMIT). Daniel worked on the technical aspects of wholesale trading data collection as well drafting policy papers and guidance for market participants on the prohibition of market abuse. In his current role, he is advising national regulators on potential market manipulation and insider trading cases. Prior to joining ACER, Daniel has worked with investment planning at the Hungarian national energy champion, MVM. Before that, he was a consultant at Nielsen, a global data and analytics company; and at Encore, a boutique consultancy specialised on energy market risk management. Daniel received a degree in social sciences and energy economics from the Corvinus University of Budapest and a degree in finance at the ESSCA School of Management in Angers, France.

    Suski, Piotr
    Legal Counsel, SworaLegal
    Speaker bio
    Suski, Piotr
    Legal Counsel, SworaLegal
    Suski, Piotr

    Piotr Suski is attorney-at-law at SworaLegal law firm. He specializes in energy law, competition & antitrust law, as well as EU law. Piotr was involved in implementing REMIT compliance programs and regimes in several energy companies. He also advised PPATs (i.a. transmission system operators and power exchanges) on different legal issues related to identification and notification of market manipulations and insider trading. His legal practice covers a broad range of REMIT related matters, including also transaction reporting and handling inside information. He conducted a number of workshops on the application of the prohibitions of market abuse on wholesale energy and gas markets. Piotr graduated from the Jagiellonian University in Cracow with a Master's Degree in Law and from the School of American Law organized by the Catholic University of America Columbus School of Law and the Jagiellonian University. He is currently PhD candidate at the Jagiellonian University.

    Matson, Jay
    Branch Chief, Office of Enforcement, Division of Investigations, Federal Energy Regulatory Commission (FERC), United States of America
    Speaker bio
    Matson, Jay
    Branch Chief, Office of Enforcement, Division of Investigations, Federal Energy Regulatory Commission (FERC)
    United States of America
    Matson, Jay

    Jay Matson has been a Branch Chief in the Office of Enforcement, Division of Investigations at the Federal Energy Regulatory Commission since 2015.  In that role, he manages teams of lawyers and other professionals that investigate alleged instances of non-compliance with federal statutes, regulations, tariff provisions, and other FERC-related requirements.  Prior to becoming Branch Chief, Jay served as the lead attorney for DOI on several matters, including the negotiation of an $8.1 million settlement with Louis Dreyfus Energy Services and one of its traders to resolve claims of market manipulation. Before joining FERC, Jay spent 20 years in the private sector at various law firms, advising and representing clients on a broad array of energy and public utility issues.  Jay received his J.D. from George Washington University and his A.B. from Dartmouth College.

    Bowler, Nancy
    Branch Chief, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC), United States of America
    Speaker bio
    Bowler, Nancy
    Branch Chief, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC)
    United States of America
    Bowler, Nancy

    Nancy Bowler is a Branch Chief at the Federal Energy Regulatory Commission in the Office of Enforcement’s Division of Analytics and Surveillance.  In this role she leads a team in developing statistical and analytical surveillance tools, and conducting screening of FERC jurisdictional markets for non-compliant trading behavior.  Nancy has over 20 years of energy trading, compliance, and risk management experience.  This includes stints trading oil for Cargill, a large commodity trading house, as well as managing an 11,000 MW portfolio of physical assets and associated financial positions for a diversified power trading firm.  Nancy has an A.B. from Dartmouth College, and a master’s degree in International Affairs from Columbia University.

    Jarrett, Ben
    Branch Chief, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC), United States of America
    Speaker bio
    Jarrett, Ben
    Branch Chief, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC)
    United States of America
    Jarrett, Ben

    Ben Jarrett has been a Branch Chief in the Office of Enforcement, Division of Analytics and Surveillance at the Federal Energy Regulatory Commission since 2016. In that role, he supervises teams of analysts, economists, and data scientists who work in tandem with FERC’s Division of Investigations to investigate alleged instances of non-compliance with federal statutes, regulations, tariff provisions, and other-FERC related requirements. Prior to becoming a Branch Chief, Ben spent six years as an analyst, contributing on multiple investigations, settlements, and litigation. Before joining FERC, Ben earned his M.S. in Applied Mathematics from Indiana University of Pennsylvania and B.S. in Mathematics from Westminster College.

    DeLiso, Mike
    Branch Chief, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC), United States of America
    Speaker bio
    DeLiso, Mike
    Branch Chief, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC)
    United States of America
    DeLiso, Mike

    Mike DeLiso has been the Natural Gas Market Surveillance Branch Chief in the Office of Enforcement, Division of Analytics and Surveillance at the Federal Energy Regulatory Commission since 2019. In that role, he leads FERC's market surveillance program for physical natural gas markets and related financial products. Gas Surveillance builds analytical tools to detect anomalous activity, identifies potential subjects of nonpublic investigations that are conducted in conjunction with the Division of Investigations, and conducts forensic analysis of complex market data to assess whether manipulation or other improper conduct occurred. Prior to becoming Branch Chief, Mike served in the branch as an analyst for five years. Before joining FERC, Mike served four years at the U. S. Bureau of Labor Statistics as a software developer for the Occupational Employment Statistics program. Mike received an M.S.E. in Systems Engineering and a B.S.E. in Electrical Engineering from the University of Pennsylvania.

    Hinds, Jordan
    Energy Industry Analyst, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC), United States of America
    Speaker bio
    Hinds, Jordan
    Energy Industry Analyst, Office of Enforcement, Division of Analytics and Surveillance, Federal Energy Regulatory Commission (FERC)
    United States of America
    Hinds, Jordan

    Jordan Hinds is an Energy Industry Analyst in the Office of Enforcement, Division of Analytics and Surveillance at the Federal Energy Regulatory Commission.  In that role, he develops and implements screening tools to detect potential manipulation, anti-competitive practices, and other anomalous behavior in physical natural gas markets and associated financial products.  Jordan assists the Division of Investigations in conducting formal, nonpublic investigations of market participants by analyzing trading portfolios and evaluating risk management methods. Currently, Jordan serves on an inter-agency team examining electric grid reliability and leads an intensive training program for new employees.  Jordan offers eleven years of experience in the energy industry and earned his M.A. in Economics from Georgia State University and his B.A. in Economics from Morehouse College.

    Supporter

    ERRA is grateful for the support by the Hungarian Energy and Public Utility Regulatory Authority that made this webinar available for the public.

    Energy Market Surveillance I: Fundamentals of Enforcement and Abusive Practices
     

    Webinar Content Contributors

    Energy Market Surveillance I: Fundamentals of Enforcement and Abusive Practices
    Energy Market Surveillance I: Fundamentals of Enforcement and Abusive Practices
    Energy Market Surveillance I: Fundamentals of Enforcement and Abusive Practices

    Webinar Recording


    If you are interested only in a particular session,
    click to watch on YouTube, expand the video’s description and jump directly to it by clicking the timeline links.

    Webinar Presentations

    • Mariusz Swora: Opening Remarks and Introduction of Findings of ERRA Survey
    • Eleonora Nagali, ACER: Data Collection under REMIT (Regulation on Wholesale Energy Market Integrity and Transparency)
    • Daniel Ihasz-Toth, ACER: Market Abuse under REMIT
    • Nancy Bowler /Mike DeLiso/ Jay Matson, FERC: U.S. Electric Markets: A Brief History, A Little Bit of Law, and An Overview of Surveillance
    • Piotr Suski, Swora Legal: Types of Market Manipulation in Energy Markets in Light of European National Regulatory Authorities (NRA) Case Law
    • Jordan Hinds /Ben Jarrett /Jay Matson, FERC: Case Studies - Types of Abusive Practices

    Suggested Materials

    Webinar II: Regulators and Market Participants

    Webinar III: Supervisory Tools and Sanctioning

    Interested in other topics?

    Check our upcoming webinars and training courses in energy regulation.
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