The CRE has released its report on the operation of French electricity, CO2, and natural gas wholesale markets for 2010 and the first half of 2011.
This is the first time the CRE has provided an analysis of CO2 markets. Since the law on banking and financial regulation entered into force in October 2010, the CRE should "monitor transactions by electricity and natural gas suppliers, traders, and producers on greenhouse gas emissions quotas [...] as well as contracts and derivative financial instruments constituting the underlying assets". Monitoring the CO2 market is done in coordination with the Financial Markets Authority (AMF).
In addition, the adoption of the EU regulation on energy market integrity and transparency (REMIT) paves the way for a consistent monitoring framework for European energy markets conducted by the Agency for the Cooperation of Energy Regulators (ACER) in conjunction with national regulators.
As a reminder, in the context of its monitoring mission, CRE ensures that wholesale energy market prices are consistent with the technical and economic fundamentals of these markets. Among other things, the CRE checks that there is no exercise of market power by which a stakeholder misuses its position to obtain abnormal prices, particularly in relation to its costs.