Webinar Outline

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.

Webinar Agenda

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Moderator:

Swora, Mariusz, dr hab.

Member of EU ACER’s Board of Appeal, ERRA Strategic Advisory Board Member

13:20

Market Surveillance & Regulatory Powers

13:20

Data Collection under REMIT (Regulation on Wholesale Energy Market Integrity and Transparency)

Data collection represents the building block of market surveillance under REMIT. The presentation will provide an overview of the legal basis and the organization of the data collection process at ACER under REMIT, highlighting as well the relations with NRAs and stakeholders.

Nagali, Eleonora

Policy Officer, European Union Agency for the Cooperation of Energy Regulators (ACER)

13:40

Market Abuse under REMIT

REMIT is the European regulation on wholesale energy market integrity and transparency. The presentation introduces the notions of market manipulation/insider trading and provides an overview of the role of national regulators and ACER in the REMIT framework.

Ihasz-Toth, Daniel

Policy Officer, European Union Agency for the Cooperation of Energy Regulators (ACER)

14:00

U.S. Electric Markets: A Brief History, A Little Bit of Law, and An Overview of Surveillance

The Natural Gas Act (NGA) and Federal Power Act (FPA) form the statutory basis for the regulation of gas and electric markets in the United States by the Federal Energy Regulatory Commission (FERC). This presentation reviews the historical context in which, and legal framework upon which, FERC has developed its oversight of modern energy markets. It also introduces the surveillance structure that FERC has implemented to monitor market behavior and identify market manipulation.

Bowler, Nancy

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

DeLiso, Mike

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

Matson, Jay

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

14:20

Q&A

14:30 - 14:45 Technical Break

14:45

Case Studies: Types of Abusive Practices

14:45

Types of Market Manipulation in Energy Markets in Light of European National Regulatory Authorities (NRA) Case Law

Market manipulation takes on many forms in the energy markets. The presentation will provide an overview of the types of abusive practices on the background of sanction decisions issued by European national regulatory authorities under REMIT regulation.

Suski, Piotr

Legal Counsel, SworaLegal

15:05

Case Studies: Types of Abusive Practices

This presentation identifies types of behavior that FERC considers to be inappropriate market manipulation, and describes in further detail specific scenarios that typically lead to assessment of financial penalties.

Hinds, Jordan

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

Jarrett, Ben

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

Matson, Jay

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

15:25

Q&A

15:35

Panel Discussion

Moderator:

Swora, Mariusz, dr hab.

Member of EU ACER’s Board of Appeal, ERRA Strategic Advisory Board Member

15:50

Webinar concludes

Webinar Recording

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