Remit requires participants to register with the regulator in their home state
By Hannah Meakin, partner and Mark
Chalmers, associate, Norton Rose Fulbright
Regulation (EU) 1227/2011 on wholesale
energy market integrity and transparency (Remit) was enacted to
increase the integrity and transparency of wholesale
electricity and gas markets across Europe. It is part of a
package of measures introduced at the EU level designed to
tackle market abuse in sectors of the economy that previously
had been subject to minimal (if any) market abuse
Remit prohibits insider trading and market
manipulation in relation to wholesale energy products and
imposes various transparency requirements for those active in
wholesale energy markets. Wholesale energy products means
contracts for the supply of electricity or natural gas where
delivery is in the EU, derivatives relating to electricity or
natural gas produced, traded or delivered in the EU and
contracts or derivatives relating to the transportation of
electricity or natural gas in the EU, irrespective of where and
how such contracts or derivatives are traded.
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