1. Johannes Kindler Vice-Chairman Bundesnetzagentur Vice-President of CEER 3rd FTS – CEER meeting St-Petersburg, 17 May 2011 New Regulation of Energy Trading in Europe

2. 2 3rd FTS-CEER meeting, 17 May 2011 Energy Trading Trading Transport Generation Single European Market

3. 3 3rd FTS-CEER meeting, 17 May 2011 Current situation Energy Trading MiFID EMIR MAD

4. 4 3rd FTS-CEER meeting, 17 May 2011 Current situation Energy Trading MiFID National Authorities ESMA ACER EMIR MAD Energy Trading MiFID EMIR MAD

5. 5 3rd FTS-CEER meeting, 17 May 2011 Solution R R egulation on E E nergy M M arket I I ntegrity and T T ransparency

6. 6 3rd FTS-CEER meeting, 17 May 2011 Transparency REMIT Transaction Reporting Market Abuse Insider Dealing

7. 7 3rd FTS-CEER meeting, 17 May 2011 New regulation MiFID EMIR MAD REMIT Energy Trading

8. 8 3rd FTS-CEER meeting, 17 May 2011 There is a risk! MiFID EMIR MAD REMIT Energy Trading Split between Spot Derivatives

9. 9 3rd FTS-CEER meeting, 17 May 2011 REMIT: Licensing

10. 10 3rd FTS-CEER meeting, 17 May 2011 REMIT: Licensing

11. 11 3rd FTS-CEER meeting, 17 May 2011 REMIT: Licensing

12. 12 3rd FTS-CEER meeting, 17 May 2011 Key aspects of CEER advice One single trading license:  permits European-wide trading activities  covers electricity and gas  necessary for wholesale trading (not supply)  considered by the home country of the trading companies headquarters  fees are cost-based Public consultation until 17th June. CEER workshop on 31st May in Brussels.

13. 13 3rd FTS-CEER meeting, 17 May 2011 Спасибо за внимание (Thank you for your attention!) www.energy-regulators.eu