This redefinition of strategy follows a decision in December 2013 to adopt a new organizational structure for the Association. This was deemed necessary in order to increase the effectiveness and the profile as the representative organization for a wide range of European energy commodities exchanges. The main reason for redefining strategy is that the environment in which energy exchanges operate is facing massive changes such as the completion of the internal energy market as well as new and complex regulations for physical and financial markets; Grid codes and guidelines, REMIT, MiFID II just to name a few.
Main strategic objectives
The main strategic objectives Europex decided to pursue, are the following:
- encourage that the regulatory environment (energy policy and financial regulation) stimulates exchange based trading thus increasing transparency and integrity of European wholesale energy markets;
- promote the development of local spot and forward markets for gas and power in order to achieve liquid and efficient energy markets resulting in linked trading hubs and improved security of supply;
- promote development and implementation of market based solutions in general and in particular for renewable energy (RES) support schemes (integration of RES in the power market), carbon emissions trading and capacity markets;
- create a level playing field for financial and physical energy markets in Europe, avoiding regulatory arbitrage between exchanges and other less regulated trading venues;
These goals will be pursued through a number of means comprising actively contributing to the legislative process, entering into active dialogue with relevant stakeholders and improved internal and external communication.
Evaluation of membership criteria
Europex also welcomed the possibility of widening the membership of the Association, taking stock of the diversity of its members in terms of the functions they perform, ownership structure, regulatory environment they operate in, location, size and expertise.
In order to strengthen and improve Europex's ability to reach its strategic goals, the flexibility to accept new members of the Association has been increased, under the condition that their values, strategic goals and scope of activities comply with the newly formulated Europex’ principles.
Massimo Ricci, Chairman of Europex stated that "with the adoption of this new strategy Europex has further strengthened its position as the organization that truly represents the interests of all energy commodity exchanges in Europe. I and the other members of the Europex board look forward to work constructively with other stakeholders to establish a well-functioning European energy market ".
About: Based in the European quarter of Brussels, Europex is a not-for-profit Association of European Energy Exchanges, currently with twenty one members. It represents the interests of exchange-based wholesale electricity, gas and environmental markets with regard to developments of the European regulatory framework for wholesale energy trading and provides a discussion platform at European level.
For further information, please contact:
| Rue Montoyer 31 Bte 9 | BE-1000 Brussels, Belgium | +32 2 512 34 10 |
| firstname.lastname@example.org | www.europex.org