ACER’s activity report highlights the main achievements in 2023

ACER publishes today its Consolidated Annual Activity Report (CAAR) for 2023, which details the regulatory activities it performed in relation to:

• the ongoing integration of Europe’s electricity and gas markets;

• its market surveillance under the Regulation on wholesale energy markets integrity and transparency (REMIT) to protect against market abuse.

The CAAR assesses the extent to which ACER achieved the objectives of its 2023 work programme. It also addresses some ACER management and governance matters. The report was adopted on 19 June 2024 by ACER's Administrative Board, following the favourable opinion of ACER's Board of Regulators.

What were the main developments in 2023?

In 2023, ACER successfully adapted to a rapidly changing landscape marked by the energy crisis, the evolving geopolitical circumstances and the ongoing pursuit of Europe’s ambitious Green Deal goals. These developments brought to prominence ACER's role in EU energy regulation and in monitoring energy markets to ensure that they are trustworthy.

In 2023, ACER focused on:

• Promoting a competitive and integrated EU energy market, supporting decarbonisation, and enhancing energy security of supply.

• Providing insights on the European energy market through many reports and engagement, including its Market Monitoring Reports.

• Detecting suspected energy market abuse and promoting consistency in REMIT’s application.

Besides contributing its expertise to the three key legislative packages (revised REMIT regulation, the electricity market design, and the hydrogen and decarbonised gas market package), some highlights include:

In the European electricity market

• Policy paper on the further development of the EU electricity forward market;

• Analysis of the Emergency Measures adopted by Member States in response to the crisis;

• Development of long-term capacity calculation methodologies;

• Introduction of the MONOCLE monitoring tool to monitor electricity market codes;

• Contribution to improve the European Resource Adequacy Assessment.

In the European gas market

• Extensive monitoring of gas market trends and price drivers;

• Mapping of gas storage filing regulations;

• Establishment of a daily LNG price assessment and benchmark

In REMIT

• Implementation of the Market Correction Mechanism;

• Extensive collection, analysis and screening of data to prevent market abuse and manipulation, and promoting consistency in REMIT’s application.

Access previous editions.