Energy firms call for further rise in commodity clearing level

Industry says proposed €1 billion increase would not be enough following spike in wholesale prices

Wholesale-gas-prices-have-spiked

European energy firms have said proposals by the European Securities and Markets Authority (Esma) to raise the commodity derivatives threshold will not be enough to help them weather the economic storm caused by the spike in wholesale oil and electricity prices.

Energy firms, which Esma classifies as non-financial counterparties (NFCs), are among the principal users of commodity derivatives. Rising wholesale prices mean these firms could end up breaching clearing thresholds and having to post

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