Fast Facts
| Wholesale Trading Licence | No licence required for pure wholesale trading between intermediaries not supplying end-consumers |
| Federal Supply Licence | Required only for supply to end customers connected to the transmission grid or to a direct line above 70 kV |
| Grid Access | Elia Access Contract required for physical injection or offtake; request at least 1 month before start date |
| Balancing Market | Over 100 BRPs and several accredited BSPs active in the balancing market |
| Exchange Admission | EPEX SPOT/EEX requires ECC clearing admission and at least EUR 50,000 liable equity |
| Market Scale | Installed capacity around 28 GW; renewables supply around 30% of generation |
Belgium Power Market Fundamentals
Belgium's power market has been fully liberalised since 2003, with generation and supply open to competition and separated from regulated transmission and distribution networks.
CREG is the federal regulator and Elia is Belgium's sole electricity TSO. VREG, CWaPE and BRUGEL regulate the regional markets in Flanders, Wallonia and Brussels.
Installed capacity reached around 28 GW. Renewables supply around 30% of generation, while nuclear remains the largest single source at around 42%. Belgium is a net importer, with net imports of around 11 TWh mainly from France and the Netherlands.
When Is a Licence Required in Belgium's Power Market?
CREG does not require a licence for pure wholesale trades between intermediaries that do not supply end-consumers.
A federal supply licence is needed only for supply to end customers connected to the transmission grid or to a direct line above 70 kV. CREG advises the Minister and the licence is valid for five years.
Regional supply licences are required for sales to end users on a regional distribution or local transmission grid. They are not required where the customer connects directly to the national grid.
What Are Belgium's Power Market Licence Requirements for EU and Non-EU Entities?
EU: No local entity or licence is needed for pure wholesale trading. Physical trading requires an Elia Access Contract, and each access point must have a designated Balance Responsible Party (BRP), held either by the entrant or by an appointed third party. A federal supply licence is needed only for supply to end customers connected to the transmission grid or to a direct line above 70 kV, and eligibility is limited to EU-established persons (EEA by analogy).
Non-EU: Belgium imposes no local entity requirement for wholesale trading, and access is contractual, via an Elia Access Contract and BRP coverage, with the same VAT and registration considerations as for EU traders. Federal supply-licence eligibility is limited to EU/EEA-established persons, so supplying end customers requires an EU/EEA establishment.
Balancing in the Belgium Power Market
Elia is responsible for system balancing. Every Balance Responsible Party must keep its own portfolio balanced on a quarter-hourly basis.
Every access point must have a designated BRP. A participant can either register as a BRP itself or appoint an existing BRP to cover its access points. Registration applications go through Elia's EPIC portal.
Elia procures FCR, aFRR and mFRR to correct system imbalances. Since 2023, all three reserve products have been subject to daily auctions.
Transmission Capacity in the Belgium Power Market
Physical injection or offtake requires an Access Contract with Elia. The request must be submitted at least one month before the desired start date.
The Access Contract Holder can be the grid user itself or a designated third party, such as a supplier or BRP. The contract only takes effect once the required bank guarantee has been submitted.
Two codes are needed: an EIC code obtained via Elia and, for REMIT-reportable transactions, ACER registration through CEREMP.
Belgium Power Market Exchange(s)
EPEX SPOT and Nord Pool are Belgium’s designated Nominated Electricity Market Operators (NEMO) for day-ahead and intraday spot trading. ICE Endex and EEX provide the derivatives markets for longer-term hedging. EPEX SPOT admission is cleared through EEX’s clearing house (ECC).
EPEX SPOT/EEX admission requires membership, ECC clearing admission, at least EUR 50,000 in liable equity and a technical connection to the trading system.
Nord Pool requires financial soundness, VAT registration and a balancing agreement with the TSO.
A valid Elia access contract is required before EPEX SPOT or Nord Pool access can be granted. ICE Endex clearing members need a minimum net capital of USD 20 million, while non-clearing Trade Participants have no minimum net capital requirement.
5 Market Entry Steps for Belgium Power Market
- 01No licence required for pure wholesale trading.
- 02Register with Elia and sign the Access Contract to become an Access Contract Holder.
- 03Obtain an EIC code and register with ACER through CEREMP where REMIT applies.
- 04Register as a BRP through Elia's EPIC portal and provide the required financial guarantee, or appoint an existing BRP.
- 05Apply for admission to EPEX SPOT, Nord Pool and/or ICE Endex.
- Post-Market Entry Reporting Obligations.
CorreggioNET, Belgium Power Market Access Report
Market Access Reports: CorreggioNET offers Pre-Market Entry Reports (PMER) as part of the PMER Library, providing firms with an A-to-Z guide for market entry.
CorreggioNET Alert Service: Helps you never miss a reporting obligation. Note that Belgium has multiple power market reporting obligations across CREG and the Directorate-General for Energy, with a complex regulatory landscape. The Alert Service ensures you never miss a deadline.
CorreggioNET Hotline: For your time-sensitive queries, the Regulatory Hotline Service provides direct support through an online interaction with a qualified regulatory specialist.
Consulting Solutions: For those firms which require additional assistance, Correggio Consulting is on hand to assist with all your licensing needs:
- Market entry & registration in Belgium;
- Federal supply-licence applications to CREG and regional licences to VREG, CWaPE and BRUGEL;
- Elia Access Contract and BRP onboarding;
- EPEX SPOT/EEX and Nord Pool admission;
- Corporate structuring;
- EFET Contract negotiation;
- Yearly compliance audits.
Market Info
Stay Compliant After Market Entry
Entering a new market is only the beginning.
Once trading activity starts, the real challenge is staying compliant with ongoing regulatory updates and reporting obligations. CorreggioNET supports this post-market entry stage through its regulatory platform and monitoring services.
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