Parliament wants stricter controls on the electricity market
Published: Thursday, Dec 5th 2024, 12:00
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Stricter rules will apply to the electricity and gas markets in Switzerland in future. Following the National Council, the Council of States has also approved the Federal Act on the Supervision and Transparency of Wholesale Energy Markets. The aim of the bill is to ensure fairer energy prices.
In the overall vote on Thursday, the small chamber adopted the law by 39 votes to 0 with two abstentions. Due to some remaining differences, the matter will return to the National Council.
The law obliges market participants to provide the Swiss Federal Electricity Commission (ElCom) with information on their transactions and trading orders. The decree also prohibits insider trading and market manipulation. The provisions are based on those of financial market law.
Overall, the bill was not very controversial in the small chamber. However, the Council of States deviated from the National Council's decision on some important points.
On the one hand, this concerns the definition of market manipulation. On the other hand, the Council of States wants the Federal Council to be able to exempt gas deliveries within Switzerland that are intended for end consumption and cannot influence wholesale prices from the reporting obligation.
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