URSO Plans Regional Regulator Platform to Coordinate EU Energy Response

Bratislava, 6 June (TASR) - The Office for Regulation of Network Industries (URSO) plans to create a platform of regulatory authorities from the Central European region that would be able to respond to developments in European energy in a coordinated, faster, more professional and less political way than today. To that effect, URSO intends to convene a meeting of representatives of these institutions in Bratislava. URSO analyses show that the EU single market fails during crises and penalises low-emission countries, which should instead be advantaged. Marginal pricing and emission allowances subsequently transfer into prices factors that have nothing to do with real costs. "At a recent Bratislava conference, I asked my colleagues from other regulatory authorities in our region directly — do we consider the current functioning of energy markets in the EU satisfactory if they distort prices and increase risks for our consumers and industry? If not, then it is our shared duty to seek, in the name of common sense, solutions that are professional, realistic and based on data," said URSO chair Jozef Holjencik. The meeting of regulators from the region is intended to serve as a working platform for open discussion on unfair market prices, technological changes and the need to strengthen the analytical capacity of regulatory authorities. "Regulatory authorities today can no longer only monitor the market, they must be able to stabilise it before it causes damage. If regulation is to protect people, it must have the courage to name system failures and demand their correction. Individual solutions are no longer sufficient," Holjencik added. The expected outcome of the meeting is a joint regional position on stabilising energy prices and strengthening the competitiveness of the EU. URSO will inform the public about further developments of the initiative as needed. mf/ko