The European Commission has launched a formal investigation into Paris-based power exchange EPEX SPOT over concerns it may be hindering the activities of competitors on the market for electricity intraday trading services.
The investigation will focus on intraday trading services in at least six member states – Austria, Belgium, France, Germany, Luxembourg and the Netherlands.
Intraday markets are markets where sellers and buyers of electricity can trade power in the last hours before it is injected into the network.
They play an essential role for the safety of the network but also for the efficient use of green technologies such as solar and wind, whose output can be forecast most accurately just prior to production.
Executive Vice President Margrethe Vestager, in charge of competition policy said: “Power exchanges are central to the efficient functioning of electricity markets. Electricity trading plays an important and growing role in the effective and safe management of electricity grids. It helps ensure that electricity flows from where it is produced to where it is most needed to the benefit of European consumers.
“Preserving healthy competition between power exchanges and between traders contributes to accurate price and investment signals for new sources of energy, which are central for the cost-effective integration of renewable technologies in the electricity mix.”