National Council wants stricter controls on the electricity market
Published: Wednesday, Jun 12th 2024, 11:20
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The National Council wants to control the electricity market more strictly. To this end, the upper chamber unanimously approved the Federal Act on Supervision and Transparency in the Wholesale Energy Markets on Wednesday.
The new law is intended to limit the economic risks for system-critical Swiss electricity companies and increase transparency. The aim is to achieve fairer prices. For example, insider trading and market manipulation in wholesale energy trading are to be prohibited.
Anyone who violates this is to be prosecuted by the federal prosecution authorities. The Federal Electricity Commission (Elcom) should be able to enforce the obligations of market participants and sanction violations.
The measures are intended to enable Elcom to better assess risks in the electricity and gas trading market and the liquidity situation of companies.
The background to the new law is the sharp price fluctuations on the energy markets since the outbreak of the war in Ukraine.
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