1. Pilot project – Energy Trade Data Reporting Scheme 1 st Steering Committee Meeting Brussels, 5 October 2010

2. Motivation Enhanced framework for the supervision of traded energy markets is needed – Ongoing public consultations by DG Markets and DG Energy Need to further develop market transparency – ERGEG’s draft advice on Comitology Guidelines Current (national) wholesale energy market monitoring initiatives are not harmonised and comprehensive - Patchwork of reporting schemes may not support effective surveillance Further increase in electricity and gas trading activities due to advances in European energy market integration Pilot project for energy trade data reporting

3. Objectives 1.Demonstration of the feasibility of an efficient and cost effective standardised trade data collection, storage and monitoring scheme; 2.Recommendations for a future European trade data reporting and monitoring scheme on issues such as data field definition standardisation, communication interfaces, transaction data anonymisation, secure data access and data publication; 3.Development of a concept and examples for analyses of trade (and other relevant) data for market monitoring purposes including potential market abuse; 4.Development of a concept and representative examples for statistical analyses of trade data.

4. Project organisation European Energy Regulators Financial Services Working Group (chaired by BNetzA) Steering Committee (European Commission, European energy regulators, EFET, EEX, Spectron, RWE, FORMAET) E-Control Project Management & Support Cooperation with EFETnet (eXRP) Project partner: FORMAET Services Cooperation with Energy Exchanges (historical data)

5. Project organisation (continued) Guidance of the Financial Services (FIS) Working Group ensures continuous involvement of European energy regulators; Project Steering Committee with representatives from the European Commission, regulators, EFET, exchanges, brokers and traders, FORMAET; E-Control provides project management and support and coordinates activities with project partners.

6. The role of the Steering Committee Provide guidance and market expertise on specific issues; Support provision of test data for pilot project; Communicate and disseminate pilot project issues and conclusions.

7. Project plan Jul 2010 – Jan 2011 Jul 10Aug 10Sep 10Oct 10Nov 10Dec 10Jan 11 Concept phase: Data sourcing, access & analysis, IT specification & software Implementation phase: Set up IT application, test runs Proof of concept phase: Data exchange & analysis Kick-off 1 st Steering C 2 nd Steering C* First results * planned

8. Pilot project status First round of discussions with stakeholders and market participants; Kick-off meeting with potential project partners; Establishment of project organisation & setting up Steering Committee; Development of IT concept for pilot project; Identification of key aspects of a potential future European trade reporting scheme.

9. Pilot project IT concept Trade database Test trade data (EFETnet eXRP project partners) Fundamental data Data analysis tool Trade data (e.g. historical data from selected exchanges) eXRP standard Data analysis and statistics (examples)

10. Pilot project IT concept (continued) Pilot project test data exchange based on eXRP (EFETnet) standard; Pilot project trade data analyses based on historical data provided by selected project partners (e.g. exchanges, brokers, traders); Fundamental data provided by various existing sources.

11. First ideas for a potential European energy trade data reporting scheme

12. General concept Comprehensive Data collection Comprehensive Data collection Comprehensive data collection 27 EU countries All market places (trader, broker, exchange) All standard* products (spot, derivatives) Fundamental data (generation, network, consumption) Energy regulators Financial regulators Competition authorities Academia, public, etc individual access rights * inclusion of non-standardised products to be determined

13. Some key aspects to be addressed Market players to report trades only once and in a standardised format; Traders to be able to verify own trade data reported; Rights for national regulators to access data from other countries to be determined; Integration of fundamental data for market monitoring purposes essential.

14. Some key aspects to be addressed (continued) Consistency of data (e.g. counterparty information) across countries has to be guaranteed; Central versus de-central trade data collection process; Governance structures and procedures of a European trade reporting scheme have to be defined; Access rights for academia and public to be determined; Other issues to be determined in the course of the pilot project.