A group of EU experts has concluded that the EU’s gas market and the market for gas-linked financial contracts are functioning well.
The analysis was produced by the Gas Market Task Force, which brings together officials from the European Commission and two EU regulators — the Agency for the Cooperation of Energy Regulators and the European Securities and Markets Authority, the Commission informed on Tuesday.
The task force reviewed how gas trading works in practice, including trading in “gas derivatives”, which are financial contracts whose value is linked to gas prices.
Its report covers monitoring of trends in algorithmic trading, the development of new market monitoring tools, implementation of REMIT — the EU rules on wholesale energy market integrity and transparency — and certain rules for commodity derivatives trading such as position management controls and position reporting.
Why the task force was set up
The Gas Market Task Force was established in February 2025 as part of the EU’s Clean Industrial Deal and Affordable Energy Action Plan.
It was tasked with looking for possible shortcomings in the EU gas and gas derivatives markets and proposing actions to address them.
The work was set in the context of the 2024 Draghi report on competitiveness and the role gas played in the energy crisis linked to Russia’s invasion of Ukraine.
The European Commission also launched a stakeholder consultation in 2025 on commodity derivatives markets, including gas derivatives, to assess whether further legislative changes were needed.
That consultation looked at regulatory oversight and alignment between energy and financial market rules, including the Markets in Financial Instruments Directive (MiFID) and REMIT, and at reducing administrative burdens on companies through measures such as single-reporting mechanisms.
