ZURICH, Dec 16 (Reuters) – The Swiss cabinet on Friday opened the consultation process for a new law aimed at strengthening transparency and supervision in wholesale energy trading in Switzerland.
Under the planned Federal Act on Supervision and Transparency in the Wholesale Energy Markets (GATE), the cabinet wants to oblige market participants to register with the Federal Electricity Commission (ElCom) and to provide it with details of their transactions and trading orders on the wholesale market.
The measure will also ban insider trading and market manipulation in wholesale energy trading.
“It serves to create more transparency, improve supervision and strengthen system stability and security of supply,” the federal council, or cabinet, said in a statement.
Writing by Paul Carrel, editing by Rachel More
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