Wednesday, December 7 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Dec 05
Week of Nov 28
Week of Nov 21
Week of Nov 14
Week of Nov 07
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    ANRE applied, during period 2019-2022, to participants in wholesale market of contraventional sanctions in total amount of 14,991,316 , 39 lei


    September 20, 2022 - Contify Energy News

     

      As a result of the European directives transposed into the national legislation, ANRE established the Directorate of Investigations with the object of investigation activity on the wholesale electricity and natural gas market. ANRE is the competent authority to carry out investigations in the field of electricity and natural gas in order to ensure a good functioning of the wholesale energy market and in full compliance with national and European regulations.

      Original Press Release:

      Sept. 19 -- National Energy Regulatory Authority issued the following news release:

      As a result of the European directives transposed into the national legislation, ANRE established the Directorate of Investigations with the object of investigation activity on the wholesale electricity and natural gas market. ANRE is the competent authority to carry out investigations in the field of electricity and natural gas in order to ensure a good functioning of the wholesale energy market and in full compliance with national and European regulations.

      The investigative activity is carried out based on the provisions of art. 9 para. (1) lit. y) and lit. z) as well as of art. 10 para. (1) lit. b) and para. (6) lit. d) from Government Emergency Ordinance no. 33/2007, regarding the organization and functioning of the National Energy Regulatory Authority, approved with amendments and additions by Law no. 160/2012, with subsequent amendments and additions, respectively of the provisions of art. 84 and art. 183 of the Electricity and Natural Gas Law no. 123/2012, with subsequent amendments and additions.

      Starting from 2018 and until now, ANRE has started and/or carried out a number of 68 investigations on participants in the wholesale electricity and natural gas market (producers, traders and suppliers of electricity and natural gas, transport operator and system in the electricity sector), license holders, who carry out activities on the wholesale energy market. Of these, at the present date, 49 investigations have been completed .

      Mainly, the object and purpose of the investigative actions consisted/consists in verifying the way in which the participants in the wholesale electricity and natural gas market complied/comply with the provisions of Regulation (EU) no. 1227/2011 of the European Parliament and of the Council of 25 October 2011 on the integrity and transparency of the wholesale energy market (REMIT) . A priority emphasis was placed on compliance with art. 5 of this normative act, according to which " It is forbidden to manipulate or attempt to manipulate the market on wholesale energy markets " .

      For violating the provisions of art. 5 of REMIT, ANRE applied contraventional sanctions in the total amount of 14,991,316.39 lei to the participants in the wholesale electricity and natural gas market , as follows:

      a. for the electricity sector, fines in the amount of 12,991,316.39 lei applied to 20 participants in the wholesale electricity market, following 36 completed investigations, for the manipulation of the wholesale electricity market , as a result of transactions carried out with quantities of electricity on OPCOM platforms, considered wash trades[1], qualified in the subcategory ,, type A – B – A laundering transactions[2], layering[3]” or “ pre-arranged transactions[4]", as follows:

      * MET ROMANIA ENERGY SAwas investigated as a result of the suspicion of manipulation of the wholesale electricity market, following transactions carried out on the PCCB - LE platform managed by OPCOM. Following the analysis and completion of the investigation, ANRE found that the operator MET ROMNIA ENERGY SA, through a number of 18 transactions concluded with the electricity producer PETOSOLAR SRL, violated the provisions of art. 5 of REMIT regarding the prohibition of market manipulation or attempted market manipulation on wholesale energy markets, in conjunction with the provisions of art. 2 point 2. lit. a) subsection i) and point 3. lit. a) subsection i) from the same normative act. For the deed committed, by the 2019 Investigation Completion Decision, MET ROMNIA ENERGY SA was fined 400,000 lei

      * PETOSOLAR SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, following transactions carried out on the PCCB - LE platform managed by OPCOM. Following the analysis and completion of the investigation, ANRE found that the electricity producer PETOSOLAR SRL, through a number of 18 transactions concluded with the operator MET ROMNIA ENERGY SA, violated the provisions of art. 5 of REMIT, in conjunction with the provisions of art. 2 point 2. lit. a) subsection i) and point 3. lit. a) subsection i) from the same normative act. For the deed committed, by the Decision to complete the investigation from 2019, PETOSOLAR SRL was penalized with a fine of 400,000 lei.

      * QMB ENERG SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, following transactions carried out on the PC-OTC platform managed by OPCOM. Following the analysis and completion of the investigation, ANRE found that QMB ENERG SRL, through a number of 63 transactions concluded with economic operators NOVA POWER & GAS SRL and ADERRO GP ENERGY SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of wash trades type A – B – C – A”, respectively sent false indications regarding the price of the traded product, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the 2020 Investigation Completion Decision, QMB ENERG SRL was penalized with a fine of 400,000 lei.

      * NOVA POWER & GAS SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, following transactions carried out on the PC-OTC platform managed by OPCOM. Following the analysis and completion of the investigation, ANRE found that NOVA POWER & GAS SRL, through a number of 63 transactions concluded with economic operators QMB ENERG SRL and ADERRO GP ENERGY SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of wash trades type A – B – C – A”, respectively sent false indications regarding the price of the traded product, thus violating the provisions of art. 5 of REMIT. For the committed deed, through the 2020 Investigation Completion Decision, NOVA POWER & GAS SRL was penalized with a fine of 400,000 lei.

      * ADERRO GP ENERGY SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, following transactions carried out on the PC-OTC platform managed by OPCOM. Following the analysis and completion of the investigation, ANRE found that ADERRO GP ENERGY SRL, through a number of 63 transactions concluded with economic operators NOVA POWER & GAS SRL and QMB ENERG SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of wash trades type A – B – C – A”, respectively sent false indications regarding the price of the traded product, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the 2020 Investigation Completion Decision, ADERRO GP ENERGY SRL was fined 400,000 lei.

      * A ENERGY IND SRL . was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform managed by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A - B - A ". Following the analysis and completion of the investigation, ANRE found that A ENERGY IND SRL, through 27 transactions concluded with the economic operators EFT FURNIZARE SRL and TRANSFORMER ENERGY SUPPLY SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being of the type wash trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed acts, by the Decision to complete the investigation from 2021, A ENERGY IND SRL was penalized with a fine of 800,000 lei.

      * EFT FURNIZARE SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A washing transactions - B - A ". Following the analysis and completion of the investigation, ANRE found that EFT FURNIZARE SRL, through 15 transactions concluded with the economic operator A ENERGY IND SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory ,, washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from 2021, EFT FURNIZARE SRL was penalized with a fine of 400,000 lei.

      * TRANSFORMER ENERGY SUPPLY SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A ”. Following the analysis and completion of the investigation, ANRE found that TRANSFORMER ENERGY SUPPLY SRL, through transactions concluded with the economic operator A ENERGY IND SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from the year 2021, TRANSFORMER ENERGY SUPPLY SRL was penalized with a fine of 400,000 lei.

      * ELECTROMAGNETICA SA was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A wash transactions - B-A ". Following the analysis and completion of the investigation, ANRE found that through 7 transactions concluded with the economic operator AXPO ENERGY ROMNIA SA, it was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of transactions washing type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from 2021, ELECTROMAGNETICA SA was penalized with a fine of 400,000 lei.

      * AXPO ENERGY ROMANIA SA was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A ”. Following the analysis and completion of the investigation, ANRE found that through 7 transactions concluded with the economic operator

      * ELECTROMAGNETICA SA, it was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from 2021, AXPO ENERGY ROMNIA SA was penalized for contravention with a fine of 400,000 lei.

      * ELECTROMAGNETICA SA was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A wash transactions - B-A ". Following the analysis and completion of the investigation, ANRE found that through 8 transactions concluded with the economic operator AXPO ENERGY ROMNIA SA, it was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of transactions washing type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed deed, by the 2021 Investigation Completion Decision, ELECTROMAGNETICA SA was penalized with a fine of 400,000 lei.

      * AXPO ENERGY ROMANIA SA was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A ”. Following the analysis and completion of the investigation, ANRE found that through 8 transactions concluded with the economic operator

      * ELECTROMAGNETICA SA, it was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from 2021, AXPO ENERGY ROMNIA SA was penalized for contravention with a fine of 400,000 lei.

      * LJG GREEN SOURCE ENERGY BETA SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PCCB-NC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, washing type A – B – A ”. Following the analysis and completion of the investigation, ANRE found that LJG GREEN SOURCE ENERGY BETA SRL, through 4 transactions concluded with the economic operator E.ON ENERGIE ROMNIA SA, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being of the wash type trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed deed, through the 2021 Investigation Completion Decision, LJG GREEN SOURCE ENERGY BETA SRL was penalized for contravention with a fine of 400,000 lei.

      * LJG GREEN SOURCE ENERGY GAMMA SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PCCB-NC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, washing type A – B – A ”. Following the analysis and completion of the investigation, ANRE found that LJG GREEN SOURCE ENERGY GAMMA SRL, through 4 transactions concluded with the economic operator E.ON ENERGIE ROMNIA SA, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being of the type wash trades , qualified in the subcategory,,laundering transactions type A – B – A ”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from 2021, LJG GREEN SOURCE ENERGY GAMMA SRL was penalized with a fine of 400,000 lei.

      * E.ON ENERGIE ROMANIA SA was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to transactions carried out on the PCCB-NC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, washing type A – B – A ”. Following the analysis and completion of the investigation, ANRE found that E.ON ENERGIE ROMNIA SA, through 8 transactions concluded with economic operators LJG GREEN SOURCE ENERGY BETA SRL and LJG GREEN SOURCE ENERGY GAMMA SRL, was involved in practices of manipulation of the wholesale energy market electricity, the transactions carried out being wash trades, qualified in the subcategory of "washing transactions type A - B - A ", thus violating the provisions of art. 5 of REMIT. For the committed acts, by the Decision to complete the investigation from 2021, E.ON ENERGIE ROMCANIA SA was penalized with a fine of 800,000 lei.

      * MONSSON TRADING SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform managed by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A washing transactions - B - A ". Following the analysis and completion of the investigation, ANRE found that the supplier MONSSON TRADING SRL, through 13 transactions concluded with the economic operator NEXT ENERGY PARTNERS SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory,,laundering transactions type A – B – A ”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from the year 2021, MONSSON TRADING SRL was penalized with a fine of 400,000 lei.

      * NEXT ENERGY PARTNERS SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A ”. Following the analysis and completion of the investigation, ANRE found that the supplier NEXT ENERGY PARTNERS SRL, through 13 transactions concluded with the economic operator MONSSON TRADING SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory,, washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from the year 2021, NEXT ENERGY PARTNERS SRL was penalized with a fine of 400,000 lei.

      * NEXT ENERGY PARTNERS SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades qualified in the "layering" subcategory. Following the analysis and completion of the investigation, ANRE found that the supplier NEXT ENERGY PARTNERS SRL, through its trading behavior from 29.11.2019, successively introducing offers in both directions (sale and purchase), thus reducing the difference between the best prices of sale/purchase offered in the PC-OTC platform, the electricity supplier NEXT ENERGY PARTNERS SRL influenced the award price for the product it intended to purchase, causing it to decrease. Through the staged placement of offers in both directions (sale and purchase), at different price levels, NEXT ENERGY PARTNERS SRL created the impression that the product targeted for purchase is in the attention of several market participants, so that they reacted by modifying their own offers in the sense expected by NEXT ENERGY PARTNERS SRL, so that towards the end of the trading session the price offered for this product decreased. For the deed committed, by the Decision to complete the investigation from the year 2022, NEXT ENERGY PARTNERS SRL was penalized for contravention with a fine of 200,000 lei.

      * ALIVE CAPITAL SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform managed by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A washing transactions - B - A ". Following the analysis and completion of the investigation, ANRE found that the supplier ALIVE CAPITAL SRL, through 16 (sixteen) transactions concluded with the economic operator ENGIE ROMNIA SA, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory ,, type A – B – A laundering transactions”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from 2022, ALIVE CAPITAL SRL was penalized with a fine of 400,000 lei.

      * ALIVE CAPITAL SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform managed by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A washing transactions – B – A". Following the analysis and completion of the investigation, ANRE found that the supplier ALIVE CAPITAL SRL, through 6 (six) transactions concluded with the economic operator ENTREX SERVICES SRL, through 9 (nine) transactions concluded with the electricity supplier ENERGIATAVERDE.RO FURNIZARE SRL (formerly APURON ENERGY SRL), through 6 (six) transactions concluded with the economic operator ENERO FURNIZARE SRL, through 6 (six) transactions concluded with the economic operator WE POWER TEAM SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being type wash trades , qualified in the subcategory of wash trades type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed acts, by the Decision to complete the investigation from the year 2022, ALIVE CAPITAL SRL was sanctioned for contravention with a fine in the total amount of 800,000 lei.

      * XPV SA was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to transactions with green certificates through which it influenced some electricity transactions made on the PC-OTC platform administered by OPCOM, the transactions made being qualified in the subcategory " pre-arranged transactions ". Following the analysis and completion of the investigation, ANRE found that the manufacturer XPV SA, through the transactions with green certificates concluded with the economic operator EFT FURNIZARE SRL, influenced the transactions concluded between A ENERGY IND SRL and EFT FURNIZARE SRL, and through the transactions with green certificates concluded with the operators economic TRANSFORMER ENERGY SUPPLY SRL and BEPCO SRL influenced the transactions concluded between A ENERGY IND SRL and TRANSFORMER ENERGY SUPPLY SRL For the committed acts, by the Decision to complete the investigation from the year 2022, XPV SA was sanctioned contraventionally with a fine in the total amount of 800,000 lei

      * ENERGIATAVERDE.RO FURNIZARE SRL (formerly APURON ENERGY SRL) was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to transactions made on the PC-OTC platform administered by OPCOM, the transactions made being wash trades , qualified in the subcategory of "washing transactions type A - B - A ". Following the analysis and completion of the investigation, ANRE found that ENERGIATAVERDE.RO FURNIZARE SRL (formerly APURON ENERGY SRL), through 9 (nine) transactions concluded with the supplier ALIVE CAPITAL SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory,,laundering transactions type A – B – A ”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from the year 2022, ENERGIATAVERDE.RO FURNIZARE SRL (formerly APURON ENERGY SRL) was penalized with a fine of 400,000 lei

      * ENTREX SERVICES SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A washing transactions - B - A ". Following the analysis and completion of the investigation, ANRE found that the supplier ENTREX SERVICES SRL through 6 (six) transactions concluded with the economic operator ALIVE CAPITAL SRL was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory,, washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the 2022 Investigation Completion Decision, ENTREX SERVICES SRL was penalized with a fine of 400,000 lei.

      * QMB ENERG SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, following the transactions carried out on the PC - OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A ”. Following the analysis and completion of the investigation, it was found that QMB ENERG SRL, through a number of 6 (six) transactions concluded with the economic operator NOVA POWER & GAS SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being type wash trades , qualified in the subcategory of wash trades type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the 2020 Investigation Completion Decision, QMB ENERG SRL was penalized with a fine of 400,000 lei.

      * NOVA POWER & GAS SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, following the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, washing type A – B – A ”. Following the analysis and completion of the investigation, it was found that NOVA POWER & GAS SRL, through a number of 6 (six) transactions concluded with the economic operator QMB ENERG SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being of wash trades type , qualified in the subcategory of wash trades type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed deed, through the 2020 Investigation Completion Decision, NOVA POWER & GAS SRL was penalized with a fine of 400,000 lei.

      * TRANSFORMER ENERGY SUPPLY SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A ”. Following the analysis and completion of the investigation, ANRE found that TRANSFORMER ENERGY SUPPLY SRL, through 9 (nine) transactions concluded with the economic operator A ENERGY IND SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory ,, type A – B – A laundering transactions”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from the year 2022, TRANSFORMER ENERGY SUPPLY SRL was penalized with a fine of 400,000 lei.

      * WE POWER TEAM SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of wash trades A – B – A". Following the analysis and during the investigation, ANRE found that WE POWER TEAM SRL committed the contravention provided for in art. 93 para. (1) point 50 of the Electricity and Natural Gas Law no. 123/2012, with subsequent amendments and additions, respectively sent inaccurate, incomplete data and information at the request of ANRE representatives. Consequently, by the Sanctioning Decision of 2022, WE POWER TEAM SRL was sanctioned with 0.5% of the annual turnover achieved from the licensed activity in the financial year 2020, respectively with a fine of 51,022.12 lei, in accordance with the provisions of art. 93 para. (2), point 2, letter f) and para. (5) from the Electricity and Natural Gas Law no. 123/2012, with subsequent amendments and additions. ANRE also found that WE POWER TEAM SRL,wash trades , qualified in the subcategory of "washing transactions type A - B - A ", thus violating the provisions of art. 5 of REMIT. For this deed committed, by the Decision to complete the investigation from the year 2022, WE POWER TEAM SRL was penalized with a fine of 400,000 lei.

      * A ENERGY IND SRL . was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC-OTC platform managed by OPCOM, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A - B - A ". Following the analysis and completion of the investigation, ANRE found that A ENERGY IND SRL, through 9 (nine) transactions concluded with the economic operator EFT FURNIZARE SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed deed, by the Decision to complete the investigation from the year 2022, A ENERGY IND SRL was sanctioned in accordance with the provisions of art. 93 para. (4) and para. (5) from the Electricity and Natural Gas Law no. 123/2012, published in the Official Gazette of Romania, Part I, no. 485 of July 16, 2012, with subsequent amendments and additions, in force on the date of the commission of the acts, with a fine of 1% of the annual turnover achieved from the licensed activity in the electricity sector related to the financial year 2020, respectively 340,294.27 lei.

      * EFT FURNIZARE SRL was investigated as a result of the suspicion of manipulation of the wholesale electricity market, due to the transactions carried out on the PC - OTC platform administered by OPCOM, the transactions carried out being wash trades , qualified in the subcategory, type A washing transactions - B - A ". Following the analysis and completion of the investigation, ANRE found that EFT FURNIZARE SRL, through 9 (nine) transactions concluded with the economic operator A ENERGY IND SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being wash trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the deed committed, by the Decision to complete the investigation from the year 2022, EFT FURNIZARE SRL was penalized with a fine of 400,000 lei.

      b. for the natural gas sector fines in the amount of 2,000,000 lei to a number of 4 participants in the wholesale natural gas market, as a result of a number of 9 completed investigations , for the manipulation of the wholesale natural gas market, as a result of Pre-arranged transactions , carried out on the La available platform managed by the licensed operator of the centralized market Bursa Româna de Marfuri (Romanian Commodities Exchange) SA, hereinafter referred to as BRM , respectively as a result of a series of wash trades transactions, qualified in the subcategory, washing type A – B – A ”, as follows:

      * E.ON ENERGIE ROMNIA SA was investigated as a result of the suspicion of market manipulation on the wholesale natural gas market, due to the transactions made with the economic operator E.ON GAZ FURNIZARE SA on the platforms managed by BRM. Following the analysis and completion of the investigation, as a result of the Pre-arranged transaction , carried out on the La platform available, administered by BRM, proven with evidence by ANRE's authorized staff, it was found that he violated the provisions of art. 5 of REMIT, regarding the prohibition of market manipulation or attempted market manipulation on wholesale energy markets. For the deed committed, by the 2020 Investigation Completion Decision, E.ON ENERGIE ROMANIA SA was sanctioned for contravention with a fine of 500,000 lei.

      * E.ON GAZ FURNIZARE SA was investigated as a result of the suspicion of market manipulation on the wholesale natural gas market, due to the transactions made with the economic operator E.ON ENERGIE ROMNIA SA on the platforms managed by BRM. Following the analysis and completion of the investigation, as a result of the Pre-arranged transaction , carried out on the La available platform managed by BRM, it was found that it violated the provisions of art. 5 of REMIT. For the deed committed, by the 2020 Investigation Completion Decision, E.ON GAZ FURNIZARE SA was penalized with a fine of 500,000 lei.

      * PREMIER ENERGY SRL was investigated as a result of the suspicion of market manipulation on the wholesale natural gas market, due to auction sessions held between 01.10.2019 - 31.12.2019, on the Centralized Market of bilateral natural gas contracts - trading method through auction and negotiation - PCGN-LN platform, administered by OPCOM. Following the analysis and completion of the investigation, it was found that PREMIER ENERGY SRL, through a number of 7 (seven) transactions concluded with the economic operator TINMAR ENERGY SA, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being of the wash type trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed act, by the Decision to complete the investigation from the year 2022, PREMIER ENERGY SRL was penalized for contravention with a fine of 500,000 lei.

      * TINMAR ENERGY SA was investigated as a result of the suspicion of market manipulation on the wholesale natural gas market, due to auction sessions held between 01.10.2019 - 31.12.2019, on the Centralized Market of bilateral natural gas contracts - the trading method through auction and negotiation - PCGN - LN platform, administered by OPCOM. Following the analysis and completion of the investigation, it was found that TINMAR ENERGY SA, through a number of 7 (seven) transactions concluded with the economic operator PREMIER ENERGY SRL, was involved in practices of manipulation of the wholesale electricity market, the transactions carried out being of the wash type trades , qualified in the subcategory of washing transactions type A – B – A”, thus violating the provisions of art. 5 of REMIT. For the committed deed, by the Decision to complete the investigation from the year 2022, TINMAR ENERGY SA was penalized with a fine of 500,000 lei.

      Most of the sanctions were applied for violating the provisions of art. 5 of Regulation (EU) no. 1227/2011 of the European Parliament and of the Council of 25 October 2011 regarding the integrity and transparency of the wholesale energy market (REMIT), respectively the manipulation of the wholesale electricity or natural gas market, as a result of the transactions made with quantities of electricity or natural gas on OPCOM platforms, considered wash trades .

      In 2022, ANRE is currently analyzing/conducting investigations on a number of 19 participants in the wholesale energy market suspected of market manipulation (suppliers, traders) of which 14 in the electricity sector and 5 in the natural gas sector.

      Starting from 25.09.2020, according to the provisions of the Electricity and Natural Gas Law no. 123/2012, with the subsequent amendments and additions, the sanctions applied by ANRE have been increased, so that participants in the wholesale electricity and natural gas market who manipulate or attempt to manipulate the wholesale energy market, can be fined in the amount of 5 -10% of the annual turnover . The sums related to the sanctions applied by ANRE are fully constituted as income to the state budget.

      At the same time, we want to reiterate the fact that ANRE's investigative activity is carried out in close collaboration and cooperation with the Agency for the Cooperation of Energy Regulatory Authorities - ACER. The direct interface with ACER allows effective communication with ACER representatives and members, for the purpose of coherent and coordinated application of the REMIT Regulation, both at the national level and at the level of the entire European Union.

      ANRE permanently informs ACER about the initiation, stage and/or completion of investigations, ensuring that national and European regulations are respected and/or properly applied by the participants in the wholesale electricity and natural gas market. At the same time, ANRE collaborates with the regulatory authorities of the states in the region, including through cooperation agreements, with ACER and the European Commission, for the harmonization of the regulatory framework for the development of the regional market, the rules regarding cross-border exchanges of electricity and natural gas, those regarding the management and allocation of interconnection capacities, without prejudice to their attributions and competences.

      In this sense, ANRE welcomes the support it receives from ACER regarding the interpretation of the provisions of the REMIT regulation, especially with regard to the evaluation of wash trade transactions provided for in REMIT and proposes to intensify cooperation with ACER to ensure transparency and integrity the European energy market.

      Footnotes:

      [1] Wash trade transaction : represents the action of a market participant involved in arrangements for the sale or purchase of wholesale energy products that does not bring about any change in material interests or market risk or where the material interest or market risk is transferred between the acting parties in concert and complicity;

      [2] A-B-A wash trade transaction : refers to the practice of entering into agreements/arrangements for the sale and purchase of products on the wholesale energy market, in which the financial benefits and market risk are only between the parties/participants (2 or more) acting in concert or in collusion;

      [3] Layering : This behavior consists in issuing several non-genuine orders for trading at different price levels (layers) on one side of the order book, in order to be able to carry out one or more transactions on the other side of the order book;

      [4] Pre-arranged : Pre-arranged transactions by concluding agreements for the sale or purchase of a wholesale energy product where the transfer of market interest or risk is carried out only between parties acting in concert or in collusion, with the aim of excluding other participants from market and to obtain a tax advantage or both.

      Disclaimer: The Above Content is Auto-Translated

      Source: National Energy Regulatory Authority

      [Category: Energy]

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.