Market Abuse: Price Controls in the Wholesale Electricity Market
In this webinar with Christoph Riechmann (Frontier Economics) and Matthew Levitt (Baker Botts LLP), we had a look at market abuses surrounding pricing in the EU wholesale electricity market from both a legal and economic perspective.
We examined the criteria for compliance with Article 102 TFEU on the abuse of a dominant position by undertakings within the internal market and the role of REMIT – the EU regulation on Wholesale Energy Market Integrity and Transparency. In particular, we focused on the application of the new pricing guidelines from BKartA, Germany’s federal cartel office and weigh the definitions they have employed when it comes to abuse and dominance in the market. Is BKartA’s approach suitable? What can we learn from the recent Elsam case? When is peak pricing key to an effective market design and when should competition authorities investigate price spikes as a signal of market manipulation? How can competition authorities effectively police these complex issues?