Market monitoring includes supervision of wholesale electricity trading. The main focus of ElCom’s supervisory activities is to secure a smoothly functioning market and detect insider trading and market manipulation.
In the EU, supervision of wholesale energy trading is carried out on the basis of Regulation (EU) No. 1227/2011 on wholesale energy market integrity and transparency (EU-REMIT). This Regulation and its associated reporting and registration requirements also apply to market participants domiciled or resident in Switzerland. Based on Article 26a of the Federal Electricity Supply Ordinance, the same data relating to whole electricity trading as those required in accordance with EU-REMIT have to be submitted to ElCom simultaneously and in the same form. ElCom’s Market Supervision section evaluates the submitted data. If it detects any irregularities, it contacts the involved market participants after it has examined the situation.
A higher degree of transparency on the wholesale electricity markets reduces the risk of market distortion and interference with price signals, and ensures that end consumers pay a fair price for their electricity. Wholesale trade markets generate price signals that are significant not only regarding the choice of suppliers and consumers, but also with respect to decisions concerning investments in production facilities and transmission network infrastructure. It is therefore crucial that these signals are generated through smoothly functioning market forces. ElCom publishes a weekly forward market report on ongoing price developments on the Swiss and neighbouring markets.