* Energy traders must sign national and EU
* Energy regulator ACER will monitor EU carbon market
* EU govts agree framework of fines for non-compliance
By Pete Harrison
BRUSSELS, June 29 European Union governments
struck a provisional deal on Wednesday on preventing market
abuse and insider trading in energy markets, negotiators said.
EU Energy Commissioner Guenther Oettinger proposed new
rules in December to prevent market abuse in a wholesale market
estimated to be worth around 500 billion euros ($708 billion)
"As the EU internal energy market for electricity and gas is
becoming more and more liberalised and interconnected, the
potential for abuse and manipulation is also growing," said a
statement from EU government negotiators.
"The proposed regulation sets up a framework for monitoring
wholesale energy markets in order to detect market abuse and
manipulation, thereby ensuring the integrity and transparency of
those markets," it added.
A team of about 15 market monitors, based at the Agency for
the Cooperation of Energy Regulators (ACER) in Slovenia, will be
handed extensive powers to collect market data and act on
manipulative behaviour and insider trading.
The deal, which still needs approval by the European
Parliament, forces energy traders and other market participants
to sign up to national register and ACER's European register.
Wednesday's agreement also outlines the levels of fines for
non-compliance, aimed to be "proportionate, dissuasive and
ACER will also have access to data on the trade of carbon
emissions permits in the EU's Emissions Trading Scheme (ETS) to
prevent cross-market and cross-commodity abuses. The European
Parliament has already pushed for that option.
The EU's executive Commission may follow up with a specific
proposal for regulating the ETS, which forces 11,000 factories
and power suppliers to obtain permits for each tonne of carbon
(Reporting by Pete Harrison, editing by Rex Merrifield and