For the stabilization of energy markets, change is needed in Brussels!

The European Parliament (EP) today adopted the regulation on action against market manipulation in the wholesale energy market. (amending the so-called REMIT regulation) Fidesz MEP András Gyürk highlighted with regard to the decision: “The measures outlined in the adopted legislation have the potential to make energy market processes more predictable. However, the implementation of these cannot be entrusted to the failed Brussels bureaucrats.”

The European Commission’s failed sanctions and energy policy led to a serious crisis in the European Union. “The overturning of the normal functioning of the energy markets has contributed to the increase in household utility bills and made the planning of the operation of businesses more difficult. This is why it is timely to tighten the corresponding legislation,” underlined the Fidesz MEP.

The amendment of the REMIT regulation may represent progress. “The amended legislation increases the transparency of energy markets and acts against market manipulation. The regulation also proposes action regarding new commercial practices, such as algorithmic trading,” the Hungarian MEP pointed out.

The REMIT regulation can make the planning of energy costs more predictable for families and businesses. “However, for a real stabilization of the energy markets, a European energy policy based on common sense is of utmost importance. We cannot expect this change from the Brussels bureaucrats. Therefore, a change must be achieved in Brussels in June,” said MEP András Gyürk.