This ACER LNG report reviews key market trends in 2025 and the implications for Europe’s energy security, including the risks linked to tensions in the Middle East.

This report analyses the preparedness of persons professionally arranging transactions (PPATs) to detect and report suspicious behaviour. PPATs are trading intermediaries such as energy exchanges, organised market places (OMPs) or brokers, who arrange or facilitate transactions in wholesale energy products.

This report focuses on national regulatory authorities’ (NRAs’) analysis of suspicious transaction and order reports (STORs) submitted by PPATs, their enforcement actions and penalties.