The EU regulation 1227/2011 on wholesale energy market integrity and transparency (REMIT) outlines rules for market participants active in wholesale energy markets. In force since December 28, 2011, the regulation prohibits insider trading and market manipulation. To deter and detect such practices, ACER (the Agency for the Cooperation of Energy Regulators) will establish a European-wide market monitoring system which will be complemented by the investigative powers of member states.
REMIT complements and expands upon financial market regulation, since energy products are also traded as financial instruments. The coming into force of the REMIT implementing acts, which is expected in mid-2013, will further clarify the position of REMIT within the regulatory framework.
E-Control’s REMIT portal provides an overview of the latest developments, relevant documents, Q&As as well as details about past and upcoming REMIT events.