Bloomberg Law
Jan. 31, 2023, 4:00 PM

EU’s Power Market is Failing to Curb Manipulation, Watchdog Says

John Ainger
John Ainger
Bloomberg Editorial

The European Union’s electricity market is vulnerable to exploitation due to its failure to integrate better across national boundaries, according to a report by the bloc’s auditing watchdog, highlighting the challenges the bloc faces ahead of a crucial reform.

Despite nearly three decades of development, the EU’s power market is still governed by 27 national regulatory frameworks, which opens the door to “abuse and manipulation,” the European Court of Auditors said in a report Tuesday.

“Electricity producers, suppliers and brokers may all exploit loopholes,” the institution warned Tuesday, after assessing the market over the past six years. “Or – worse ...