New EU rules may be a fix for something that isn't broken
The pricing of oil, gas, and other commodities has been under fierce regulatory scrutiny since 2008. Regulators – especially those in Europe – have focused on the role of Price Reporting Agencies (PRAs) and questioned the subjective nature of their price assessments. The regulatory mind likes tidy m...
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| Format: | Journal article |
| Language: | English |
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Oxford Institute for Energy Studies
2013
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| Summary: | The pricing of oil, gas, and other commodities has been under fierce regulatory scrutiny since 2008. Regulators – especially those in Europe – have focused on the role of Price Reporting Agencies (PRAs) and questioned the subjective nature of their price assessments. The regulatory mind likes tidy methodologies based on ‘verifiable’ data, and this bias could now be leading to the introduction of tightly prescriptive rules that would seriously distort physical commodity trading and make it less, rather than more, transparent. |
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