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Market design review, impacts of MCM, LNG price assessment

The European Commission has opened a consultation on the future design of the European energy markets. The consultation suggests changes in the structures of the market, partly in response to the energy crisis. The consultation documents can be found here. In Great Britain the results of the “REMA” process are still in progress (see here).

ESMA and ACER have each published reports on the current and potential impact of the recently announced gas Market Correction Mechanism (MCM, see here), from the financial markets and energy markets perspectives. Concerns are raised about the impact to price stability and supply, amongst other things. The reports can be found here (ESMA) and here (ACER).

Last week, the first LNG market assessments containing a price were published by ACER as part of the new rules as part of the Council Regulation (see here). The assessments can be found here.

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