Open letter from CEOs of European NEMOs calling for deletion of the Single Legal Entity (SLE)

10 Nov Open letter from CEOs of European NEMOs calling for deletion of the Single Legal Entity (SLE)

We, the CEOs of the power exchanges representing all Nominated Electricity Market Operators (NEMOs) from the 27 EU Member States, wish to voice our very grave concerns about a specific aspect of the proposed Electricity Market Design reform – namely the EMD paving the way to take the organisation of the Market Coupling Operation (MCO) function away from the TSOs and NEMOs, transferring it instead to a Single Legal Entity (SLE). The establishment of such an entity is foreseen in the Council general approach, in Article 7, paragraph (1), and Article 59 of the amended Regulation (EU) 2019/943.

The power exchanges we represent cover the whole EU geographical scope, plus Norway. Together with the electricity transmission system operators (TSOs), we develop, implement, and operate the European Market Coupling, a highly efficient and exceptionally reliable solution for integrating the European day-ahead and intraday markets. This has proved itself to be the cornerstone of the EU Internal Market for electricity, as also stated in ACER’s report of April 2022 ‘Final Assessment of the EU Wholesale Electricity Market Design’.

Read the full letter in the PDF – NEMO CEOs SLE Open letter