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ESMA and ACER publish preliminary data reports on the introduction of the market correction mechanism

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Published on: 23 January 2023

Published by LNB News

LNB News 23/01/2023

Document Information

Issue Date: 23 January 2023

Published Date: 23 January 2023

Jurisdiction(s): United Kingdom

Article summary

The European Securities and Markets Authority (ESMA) and the European Union Agency for the Cooperation of Energy Regulators (ACER) have published preliminary data reports on the introduction of the market correction mechanism (MCM). The MCM covers natural gas transactions in Title Transfer Facility (TTF) exchange-traded derivatives with maturities between month-ahead and year-ahead as an instrument against episodes of excessively high gas prices. ESMA was required to publish the preliminary data report by 23 January 2023, to be followed by an effects assessment by 1 March 2023. ACER and ESMA have produced their respective reports in close co-operation.

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